News Corporation provided a notification of a buy-back program for Class A and Class B common stock.
The company authorized a repurchase program of up to US$1 billion in 2021, with an additional US$1 billion authorized in 2025.
The intention is to repurchase shares based on market conditions and stock price.
No ASX-listed CDIs will be repurchased in these programs.
Type of Buy-back
Other buy-back - Repurchase program for up to US$1 billion of Class A and Class B common stock.
Total Number of Securities on Issue
371,458,287 in the class of securities to be bought back.
Maximum Number of Securities
The company intends to buy back up to US$1 billion of Class A and Class B common stock.
- The buy-back program indicates News Corporation's confidence in its financial position and the belief that its stock is undervalued.
- This move could potentially lead to an increase in shareholder value over time.
The repurchase program reflects News Corporation's commitment to enhancing shareholder value and capitalizing on strategic opportunities in the market.