News Corporation has announced a buyback program for its Class A common stock and Class B common stock. The company has authorized an additional US$1 billion for the 2025 Repurchase Program, which is in addition to the US$1 billion 2021 Repurchase Program. As of the latest announcement, the total number of securities on issue in the class of securities to be bought back is 372,723,535.
The company has disclosed that it may purchase up to the aggregate of US$1 billion worth of Class A common stock and Class B common stock under each of the 2021 and 2025 Repurchase Programs. The buyback is intended to enhance shareholder value.
As for the recent daily buy-back notification, the total number of securities bought back or in relation to which acceptances have been received is 26,681,281. The total consideration paid or payable for the securities is US$582,780,201, with the highest price paid at US$30.93 and the lowest at US$14.88. The remaining number of securities to be bought back under the Repurchase Programs is approximately US$118,493,954.
As a result of these announcements, the company's shares have moved -2.56% on the market, and are now trading at a price of $25.48. If you want to know more, read the company's complete 8-K report here.
