News Corporation provided details about their buy-back program in a recent announcement.
The company plans to repurchase Class A and Class B common stock under the 2021 and 2025 Repurchase Programs.
The buy-back program allows for the repurchase of up to an aggregate of US$1 billion of the company's stock.
Type of Buy-back
Other buy-back for repurchase program of up to US$1 billion of Class A and B common stock.
Total Number of Securities on Issue
375,475,749 securities in the class to be bought back.
Maximum Number of Securities to be Bought Back
Up to US$1 billion of Class A common stock and Class B common stock.
- The buy-back program signals News Corporation's confidence in its financial position and future prospects.
- Repurchasing the company's stock may indicate undervaluation, leading to potential stock price appreciation.
News Corporation's buy-back program updates reflect a strategic decision to enhance shareholder value and capitalize on market opportunities.