News Corporation has announced a significant increase in its share repurchase program. The company, which had previously authorized a repurchase program for up to an aggregate of US$1 billion of its Nasdaq-listed Class A common stock and Class B common stock as of September 21, 2021, has now authorized an additional US$1 billion as of July 15, 2025. This brings the total authorized amount to US$2 billion.
As of the latest notification, the total number of securities on issue in the class of securities to be bought back is 372,357,131. The company may purchase up to an aggregate of US$1 billion of 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.
In the most recent buy-back notification, the company bought back a total of 27,193,681 securities for a total consideration of US$595,783,536. This represents a significant uptick in the buy-back activity compared to the previous period when 72,000 securities were bought back for a total consideration of US$1,836,849.60.
The highest price paid for securities during the latest buy-back was US$30.93, while the lowest price paid was US$14.88. It's noteworthy that 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$900,905,762 worth of Class A and Class B shares under the 2021 Repurchase Program.
This increase in share repurchase authorization and the significant buy-back activity indicate the company's commitment to returning value to its shareholders and confidence in its financial position and future prospects. The market has reacted to these announcements by moving the company's shares 0.39% to a price of $25.68. Check out the company's full 8-K submission here.
