News Corporation provided details about its buy-back notification regarding the repurchase program for its Class A and Class B common stock.
The buy-back includes two authorized repurchase programs totaling US$2 billion, aimed at enhancing shareholder value and capital efficiency.
The entity does not intend to buy back ASX-listed CDIs in these programs.
Type of Buy-Back
The buy-back type is categorized as 'Other buy-back' for the repurchase program of up to US$2 billion for Class A and Class B common stock.
Total Securities
There are 372,357,131 securities in the class to be bought back, with a proposed buy-back of up to US$2 billion under the authorized programs.
On-Market Buy-Back
The entity intends to buy back a maximum number of securities, with US$1 billion allocated for each of the 2021 and 2025 Repurchase Programs.
- The buy-back programs reflect News Corporation's commitment to returning value to shareholders and optimizing capital allocation.
- By repurchasing Class A and Class B common stock, the company aims to signal confidence in its financial position and long-term prospects.
News Corporation's buy-back notification signifies a strategic move to enhance shareholder value and demonstrates confidence in the company's future growth potential.