News Corporation has provided details about their buy-back program in a recent notification to ASX.
The company has authorized repurchase programs for their Class A and Class B common stock.
The buy-back programs are subject to market conditions and other factors.
Authorized Repurchase Programs
The 2021 and 2025 Repurchase Programs allow for the repurchase of up to US$2 billion of Class A and Class B common stock.
Market Repurchase Intent
News Corporation intends to buy back stock from time to time, considering market conditions and stock prices.
ASX-Listed CDIs Exclusion
The buy-back programs do not include the repurchase of ASX-listed CDIs.
- The buy-back programs signal News Corporation's confidence in its financial position and future growth prospects.
- This move could potentially boost shareholder value and indicate management's belief in the company's long-term performance.
News Corporation's buy-back program demonstrates a strategic use of capital and a commitment to enhancing shareholder value.