News Corporation has provided a notification of a buy-back program for its Class A common stock and Class B common stock.
The 2021 Repurchase Program authorized up to US$1 billion for buybacks, with an additional US$1 billion authorized in 2025.
The company intends to repurchase shares based on market conditions and stock prices.
Buy-Back Programs
Two buy-back programs were authorized: the 2021 Repurchase Program and the 2025 Repurchase Program, totaling US$2 billion.
Securities Involved
The buy-back program includes Class A common stock and Class B common stock of News Corporation.
No ASX-Listed CDIs Repurchased
The buy-back programs do not include the repurchase of ASX-listed CDIs.
- The buy-back program signals News Corporation's confidence in its financial position and future growth prospects.
- Share repurchases can enhance shareholder value by reducing the number of outstanding shares, potentially leading to increased earnings per share.
News Corporation's buy-back program demonstrates proactive capital management and a commitment to enhancing shareholder value through strategic repurchases.