8-K: News Corp Continues $1B Share Buyback Program

News Corporation announced further progress on its $1 billion stock repurchase program, detailing recent Class A and Class B common stock acquisitions.

Summary

• News Corporation is executing its previously authorized stock repurchase program, allowing for the acquisition of up to $1 billion of its Class A and Class B common stock.
• The program, known as the 2025 Repurchase Program, was authorized on July 15, 2025, with the objective of enhancing shareholder value.
• As of February 13, 2026, the company has repurchased approximately US$51,686,694 worth of Class A and Class B shares under this program.
• On February 13, 2026, the company bought back 100,017 shares of Class A common stock for US$2,259,864.11, with prices ranging from US$22.314 to US$22.765.
• On the same day, 49,983 shares of Class B common stock were repurchased for US$1,292,690.34, with prices ranging from US$25.49 to US$26.05.
• Goldman Sachs & Co. LLC is the designated broker for these buy-back transactions.
• The company has approximately US$948,313,306 remaining under the US$1 billion authorization.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive update, reflecting consistent execution of a shareholder-friendly capital allocation strategy, which can support share price and investor confidence.

Positives

• The ongoing share repurchase program aims to enhance shareholder value by reducing the number of outstanding shares.
• The company is actively executing its capital allocation strategy, demonstrating confidence in its valuation.
• The program has a substantial remaining authorization of approximately US$948 million, indicating continued potential for shareholder returns.

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, applicable securities laws, and alternative investment opportunities.
• The company does not undertake any obligation to publicly update forward-looking statements regarding the repurchase program, except as required by law or regulation.

Future Outlook

The company intends to continue repurchasing Class A and Class B common stock from time to time in the open market or otherwise, subject to market conditions, stock price, applicable securities laws, and alternative investment opportunities, under its US$1 billion 2025 Repurchase Program.

Management Comments

• The Company intends to repurchase, from time to time, in the open market or otherwise, a combination of the Company's Class A common stock and Class B common stock.
• These statements are based on management's current expectations and beliefs and are subject to uncertainty and changes in circumstances.
• We do not have and do not undertake any obligation to publicly update any 'forward-looking statements' to reflect subsequent events or circumstances, and we expressly disclaim any such obligation, except as required by law or regulation.

Industry Context

StockSavvy.ai notes that ongoing share repurchase programs are a common strategy among mature media and information services companies like News Corporation to return capital to shareholders and signal management's confidence in the company's intrinsic value. This activity can support share price stability and potentially boost earnings per share by reducing the share count, aligning with broader industry trends of optimizing capital structure.

Comparison to Industry Standards

• News Corporation's US$1 billion repurchase program is a significant capital allocation initiative, comparable in scale to similar programs by other large media conglomerates such as Paramount Global (PARA) or Warner Bros. Discovery (WBD), which also frequently engage in share buybacks to manage capital and enhance shareholder returns.
• The stated reason 'to enhance shareholder value' is a standard justification for such programs across the industry, reflecting a focus on capital efficiency and shareholder yield.
• The use of Goldman Sachs & Co. LLC as a broker is consistent with practices among major corporations for executing large-scale market transactions.

Stakeholder Impact

• Shareholders: Potential for enhanced shareholder value through reduced share count and improved earnings per share.
• Investors: Provides transparency on the execution of the capital return program.

Next Steps

• Continue repurchasing Class A and Class B common stock under the US$1 billion 2025 Repurchase Program.
• Provide daily disclosure of transactions to the Australian Securities Exchange (ASX) if any.
• Disclose information concerning the Repurchase Program in quarterly and annual reports.

Key Dates

Recommendation

The filing details the ongoing execution of a previously announced share repurchase program, which is a positive for shareholder value. However, it does not introduce new information that would fundamentally alter the company's outlook or warrant a change in investment thesis. The buyback is an expected capital allocation activity, suggesting a 'hold' recommendation as the company continues its established strategy.

Keywords

News Corporation, Share Buyback, Stock Repurchase, Capital Allocation, NWSA, NWS, ASX, SEC Filing, Shareholder Value