News Corporation has reported an update on its buy-back program, with the total number of securities bought back or in relation to which acceptances have been received on the previous day being 26,611,277. This represents a significant increase from the previous period, where the total number of securities bought back was 70,004.
The total consideration paid or payable for the securities also saw a substantial increase, reaching US$580,960,503, compared to US$1,819,697.98 in the previous period. The highest price paid for the securities during the current period was US$30.93, while the lowest price paid was US$14.88.
In terms of the remaining number of securities to be bought back as at the end of the previous day, the company is authorized to acquire up to 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. To date, the company has purchased approximately US$878,740,242 worth of Class A and Class B shares based on the total consideration paid under the 2021 Repurchase Program.
The company's buy-back program has seen a significant increase in both the number of securities bought back and the total consideration paid, reflecting its commitment to returning value to its shareholders. As a result of these announcements, the company's shares have moved -0.46% on the market, and are now trading at a price of $26.15. For more information, read the company's full 8-K submission here.
