NEWS CORP (NWSA) Announces $190.4M Share Buyback

By Tamara Parker • Wednesday, June 10 13:04 • Permanent Link

News Corporation said it had bought back 7,611,446 shares on the prior day for US$190.4 million, followed by another 66,163 shares for US$1.8 million on the previous day, according to its latest daily buy-back notification.

The repurchases are part of the company’s 2025 Repurchase Program, which authorizes up to US$1 billion of Class A and Class B common stock. To date, News Corp said it has spent about US$296.1 million under the program, leaving roughly US$703.9 million of capacity remaining.

The company reported 362,505,701 shares on issue in the class covered by the notice. It said the highest price paid in the buy-back program was US$27.40, while the lowest price paid was US$22.20. The repurchases are being handled by Goldman Sachs & Co. LLC. As a result of these announcements, the company's shares have moved 0.53% on the market, and are now trading at a price of $27.345. Check out the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.