8-K: News Corp Continues $1 Billion Share Repurchase Program, Nearing 70% Completion

News Corporation announced ongoing progress in its authorized $1 billion stock repurchase program, having acquired approximately $696.6 million in Class A and Class B common stock to date.

Summary

• News Corporation is executing a stock repurchase program authorized to acquire up to $1 billion of its outstanding Class A and Class B common stock.
• The program aims to enhance shareholder value by repurchasing shares from time to time in the open market or otherwise, subject to market conditions.
• As of July 14, 2025, the company has repurchased approximately US$696,592,921.62 worth of Class A and Class B shares.
• On July 14, 2025, the company bought back 11,527 Class A shares for US$342,640.08 and 5,773 Class B shares for US$199,498.14.
• Prior to July 14, 2025, a total of 22,345,352 Class A shares were bought back for US$460,854,906.93, and 11,033,994 Class B shares for US$235,195,876.47.
• The highest price paid for Class A shares was US$30.69 on February 19, 2025, and the lowest was US$14.88 on September 29, 2022.
• The highest price paid for Class B shares was US$35.25 on February 19, 2025, and the lowest was US$15.17 on September 29, 2022.
• Approximately US$303.4 million remains authorized under the $1 billion repurchase program.

Sentiment

Score: 7

Explanation: The document reports on an ongoing share repurchase program, which is generally viewed positively by investors as it aims to enhance shareholder value and signals financial strength. No negative operational or financial news is present.

Positives

• The ongoing stock repurchase program is intended to enhance shareholder value.
• The company is actively returning capital to shareholders through share buybacks.

Risks

• Actual results of the repurchase program may vary materially due to changes in the market price of the company's stock.
• General market conditions could impact the effectiveness and execution of the buyback program.
• Applicable securities laws may impose restrictions or changes on the repurchase activities.
• Alternative investment opportunities could influence the company's capital allocation decisions.
• The forward-looking statements regarding the intent to repurchase are subject to uncertainty and changes in circumstances.

Future Outlook

The company intends to continue repurchasing its Class A and Class B common stock from time to time, in the open market or otherwise, subject to market conditions and the market price of its stock, as well as other factors.

Management Comments

• Management's current expectations and beliefs support the ongoing stock repurchase program.
• The company intends to repurchase Class A and Class B common stock from time to time to enhance shareholder value.

Industry Context

Share repurchase programs are a common corporate finance strategy used by mature companies to return capital to shareholders, reduce the number of outstanding shares, and potentially boost earnings per share, signaling management's confidence in the company's valuation.

Stakeholder Impact

• Shareholders: Potential for enhanced shareholder value through reduced share count and increased earnings per share.

Next Steps

• Continue to execute the authorized stock repurchase program for Class A and Class B common stock.

Key Dates

Keywords

News Corporation, stock repurchase, share buyback, Class A common stock, Class B common stock, capital allocation, shareholder value, SEC filing, ASX notification