News Corp has accelerated its share repurchase program, buying back 66,163 shares on July 14 for $1.82 million, according to its latest daily buy-back notice.
That followed a much larger buyback the prior day, when the company repurchased 9.31 million shares for $234.79 million. Combined, the two-day total came to 9.38 million shares at a cost of $236.61 million.
The company said it has now spent about $364.27 million under its 2025 repurchase program, which authorizes up to $1 billion of buybacks of its Nasdaq-listed Class A and Class B common stock. That leaves roughly $635.73 million of capacity still available.
The company reported 360.81 million shares on issue in the class covered by the notice. The highest price paid so far in the program was $27.60 a share on June 10, while the lowest was $22.20 on Feb. 9.
News Corp said the program is being run through Goldman Sachs & Co. LLC and is intended to enhance shareholder value. Today the company's shares have moved 2.1% to a price of $28.18. If you want to know more, read the company's complete 8-K report here.
