8-K: News Corp Continues $1 Billion Stock Repurchase Program
Daily Buy-Back Notification
News Corporation reports ongoing activity in its stock repurchase program, aiming to buy back up to $1 billion of Class A and Class B common stock.
Summary
- News Corporation is continuing its stock repurchase program, authorized to buy back up to $1 billion of its Class A and Class B common stock.
- The company discloses daily transactions related to the repurchase program to the Australian Securities Exchange (ASX).
- As of April 28, 2025, the company has already spent approximately $666,231,474.49 on repurchasing Class A and Class B shares.
- On April 28, 2025, News Corp repurchased 14,192 shares of Class A common stock for a total consideration of $382,111.08, with prices ranging from $26.7354 to $27.22.
- On April 28, 2025, News Corp repurchased 7,108 shares of Class B common stock for a total consideration of $221,284.83, with prices ranging from $30.9691 to $31.36.
Sentiment
Score: 7
Explanation: The announcement is neutral to positive, indicating a continuation of a previously announced buyback program, which is generally viewed favorably by investors.
Positives
- The ongoing stock repurchase program signals management's confidence in the company's value and future prospects.
- The buyback aims to enhance shareholder value.
Risks
- The company's ability to repurchase shares is subject to market conditions, stock price fluctuations, and applicable securities laws.
- Alternative investment opportunities could impact the repurchase program.
Future Outlook
The company intends to continue repurchasing shares from time to time, subject to market conditions and other factors.
Industry Context
Stock repurchase programs are a common way for companies to return capital to shareholders, especially when they believe their stock is undervalued.
Comparison to Industry Standards
- Comparing News Corp's buyback program to similar media companies like Fox Corporation or Paramount Global, the size of the buyback is substantial, reflecting a strong cash position.
- Other companies such as Alphabet and Meta have also implemented large buyback programs to enhance shareholder value.
- The execution of the buyback through open market purchases is a standard practice.
Stakeholder Impact
- Shareholders may benefit from the increased stock value due to the buyback program.
- The buyback program demonstrates the company's commitment to returning value to shareholders.
Next Steps
- The company will continue to disclose daily buy-back transactions to the ASX.
- News Corporation will provide updates on the repurchase program in its quarterly and annual reports.
Key Dates
| Date | Description |
|---|---|
| 22/9/2021 | Anticipated date buy-back will occur |
| 29/09/2022 | Date lowest price was paid for Class A shares during the buyback program. |
| 29/09/2022 | Date lowest price was paid for Class B shares during the buyback program. |
| 19/02/2025 | Date highest price was paid for Class A shares during the buyback program. |
| 19/02/2025 | Date highest price was paid for Class B shares during the buyback program. |
| 28/04/2025 | Previous day on which securities were bought back. |
| 29/04/2025 | Date of this notification. |
Keywords
stock repurchase, share buyback, News Corporation, NWSA, NWS, Class A common stock, Class B common stock, ASX, Morgan Stanley & Co. LLC
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