News Corp Repurchases $192.24M in Shares

By Tamara Parker • Thursday, June 11 16:53 • Permanent Link

News Corp reported another step in its share repurchase program, buying back 66,163 shares on the previous day for US$1.81 million, at an average cost of about US$27.31 a share. That brought the cumulative total repurchased under the program to 7.67 million shares for US$192.24 million.

The company’s buyback activity has now reached roughly 19.8% of the US$1 billion authorization, based on the US$298.79 million it said had been spent to date. The remaining capacity under the program is about US$701.2 million.

The latest daily filing also showed the company bought back 7.68 million shares before the previous day, with total consideration of US$192.24 million, underscoring that the program has been active at scale. The repurchase plan covers Nasdaq-listed Class A and Class B stock, while no ASX-listed CDIs are included. The market has reacted to these announcements by moving the company's shares -1.5% to a price of $26.565. If you want to know more, read the company's complete 8-K report 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.