News Corporation has provided an update on its buy-back program, indicating a significant increase in the total consideration paid for the securities compared to the previous period. The total number of securities bought back or in relation to which acceptances have been received stands at 26,611,277, compared to 70,004 in the previous period. However, the total consideration paid or payable for the securities has increased substantially, reaching US$580,960,503, up from US$1,819,697.98 in the previous period.
In terms of the highest and lowest prices paid for the securities, the highest price paid was US$30.93, and the lowest price paid was US$14.88. These figures represent a fluctuation in the price paid for the securities, indicating potential changes in market conditions and the company's buying strategy.
The company's authorization to acquire an aggregate of US$1 billion of the Company’s Nasdaq-listed Class A common stock and Class B common stock under the 2021 Repurchase Program and an aggregate of US$1 billion under the 2025 Repurchase Program has led to the purchase of approximately US$878,740,242 worth of Class A and Class B shares. This demonstrates a significant utilization of the authorization and a substantial investment in the buy-back program.
As a result of these announcements, the company's shares have moved -2.54% on the market, and are now trading at a price of $25.485. Check out the company's full 8-K submission here.
