8-K: News Corp Continues Share Buyback Programs

News Corporation announced ongoing share repurchases under its $2 billion aggregate Class A and Class B common stock buyback programs, with over $895 million spent under the 2021 program to date.

Summary

• News Corporation is executing its previously authorized stock repurchase programs for its Nasdaq-listed Class A and Class B common stock.
• The company has two active repurchase programs: a 2021 program authorized for up to US$1 billion and a 2025 program authorized for an additional US$1 billion, totaling US$2 billion in aggregate authorization.
• As of November 25, 2025, approximately US$895,410,103 has been purchased under the 2021 Repurchase Program.
• On November 24, 2025, the company bought back 72,000 shares of Class A common stock for US$1,832,097.60 and 31,304 shares of Class B common stock for US$907,947.48.
• To date, 27,049,681 Class A shares have been bought back for a total consideration of US$592,118,109.
• To date, 13,095,947 Class B shares have been bought back for a total consideration of US$300,551,949.
• The buy-back programs are intended to enhance shareholder value.

Sentiment

Score: 7

Explanation: The ongoing share repurchase program is a positive signal for shareholder value, demonstrating consistent capital management. However, it is a routine update on an existing program rather than a new strategic initiative, hence a moderately positive score.

Positives

• The ongoing share repurchase programs demonstrate a commitment to returning capital to shareholders.
• The company has significant remaining authorization under its repurchase programs, with approximately US$104.6 million remaining under the 2021 program and the full US$1 billion under the 2025 program largely untouched, indicating continued potential for shareholder value enhancement.
• The buybacks are explicitly stated to enhance shareholder value.

Risks

• Actual results of the repurchase programs 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 programs.
• Applicable securities laws and alternative investment opportunities may influence the company's ability or decision to repurchase shares.
• The forward-looking statements are subject to uncertainty and changes in circumstances, and the company does not undertake to publicly update them.

Future Outlook

News Corporation 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, the market price of its stock, applicable securities laws, and alternative investment opportunities. The company does not undertake to publicly update any forward-looking statements.

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 to enhance shareholder value.

Industry Context

Share buybacks are a common capital management strategy employed by established companies to return value to shareholders, reduce the number of outstanding shares, and potentially boost earnings per share. News Corporation's continued execution of its repurchase programs aligns with broader industry trends where companies with strong cash flows utilize buybacks to signal confidence in their valuation and optimize capital structure.

Stakeholder Impact

• Shareholders: Potential for enhanced shareholder value through reduced share count and potential price support from ongoing buybacks.

Next Steps

• Continued execution of the authorized share repurchase programs for Class A and Class B common stock.

Key Dates

Recommendation

This filing provides a routine update on News Corporation's ongoing share repurchase programs. While buybacks generally support shareholder value, this announcement does not introduce new information that would fundamentally alter the company's valuation or strategic outlook, thus a 'hold' recommendation is appropriate for investors awaiting more substantive operational or financial news.

Keywords

News Corporation, NWSA, NWS, stock buyback, share repurchase, capital management, shareholder value, SEC filing, 8-K, ASX