News Corporation has released an update on its buy-back program, with significant changes since the last announcement. The total number of securities bought back or in relation to which acceptances have been received is 28,331,709, with a total consideration paid or payable for the securities amounting to US$625,224,508. This is a substantial increase from the previous period, where the total number of securities bought back was 72,000, with a total consideration of US$1,880,877.60. The highest price paid for securities during this period was US$30.93, while the lowest price paid was US$14.88.
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$944,959,138 worth of Class A and Class B shares (based on total consideration paid) under the 2021 Repurchase Program. These figures indicate a significant increase in the buy-back activity compared to the previous period, reflecting the company's commitment to enhancing shareholder value. The market has reacted to these announcements by moving the company's shares -0.93% to a price of $25.985. If you want to know more, read the company's complete 8-K report here.
