News Corp Resumes Buyback Program, Repurchases US$177.6M

By Ahmed Jamerson • Monday, June 01 10:53 • Permanent Link

News Corporation has returned to its buyback program with a fresh update showing it had repurchased US$177.6 million of stock in the latest reporting period, taking total purchases under the program to about US$276.9 million.

The company said it bought back 7,129,100 shares before the previous day and another 70,004 shares on the previous day, for a combined 7,199,104 shares. The latest purchases were made at prices ranging from US$22.20 to US$27.40 a share.

News Corp’s 2025 repurchase program authorizes up to US$1 billion of its Nasdaq-listed Class A and Class B common stock. On the latest tally, that leaves roughly US$723.1 million still available for repurchase.

The company said the program covers Class A and Class B shares, not ASX-listed CDIs, and the repurchases are being carried out through Goldman Sachs & Co. LLC. The announcement also noted an anticipated buyback date of 22 September 2021. Following these announcements, the company's shares moved 0.71%, and are now trading at a price of $26.285. Check out the company's full 8-K submission here.

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