News Corporation has disclosed key details regarding their buy-back program in a recent notification to ASX.
The buy-back program involves repurchasing Class A common stock and Class B common stock with specific authorization amounts.
The company's intention is to conduct the buy-backs based on market conditions and stock prices.
Repurchase Programs
Authorized two repurchase programs totaling US$2 billion for Class A and Class B common stock.
Buy-back Type
Defined as 'Other buy-back' for the repurchase of specified stock within set parameters.
Maximum Securities Repurchase
Plan to repurchase up to an aggregate of US$1 billion of Class A and Class B common stock.
- The buy-back program signifies News Corporation's strategic approach to capital management and returning value to shareholders.
- Market conditions and stock prices will play a crucial role in determining the pace and extent of the buy-back activities.
News Corporation's buy-back notification sheds light on their proactive approach to enhancing shareholder value and managing capital efficiently in the current market landscape.