News Corporation has notified ASX of its buy-back program involving the repurchase of Class A and Class B common stock.
The program includes two repurchase programs, the 2021 Repurchase Program and the 2025 Repurchase Program, totaling up to US$2 billion.
The buy-back intends to enhance shareholder value and capitalize on market opportunities.
Type of Buy-back
Other buy-back program authorized for up to US$2 billion in Class A and Class B common stock.
Total Securities on Issue
372,357,131 securities in the class to be bought back.
Maximum Securities to be Bought back
Up to US$1 billion under the 2021 Repurchase Program and up to US$1 billion under the 2025 Repurchase Program.
- The buy-back program indicates News Corporation's confidence in its financial position and future prospects.
- Repurchasing shares may signal an undervaluation of the company's stock, attracting investor interest.
News Corporation's buy-back program reflects a strategic move to return value to shareholders and optimize capital structure.