8-K: News Corporation Continues Share Repurchase Program, Nearing $700 Million Mark

News Corporation has filed an 8-K report detailing its ongoing stock repurchase program, confirming continued buy-back activity for both Class A and Class B common stock under its authorized $1 billion program.

Summary

• News Corporation is continuing its stock repurchase program, authorized to acquire up to $1 billion in aggregate of its Class A and Class B common stock.
• As of June 3, 2025, the company has repurchased approximately US$680,544,436.02 worth of Class A and Class B shares combined.
• On June 3, 2025, the company bought back 13,126 shares of Class A common stock for US$366,807.38, with prices ranging from US$27.82 to US$28.08.
• Prior to June 3, 2025, a total of 21,988,947 Class A shares had been repurchased for US$450,655,575.50.
• On June 3, 2025, the company bought back 6,574 shares of Class B common stock for US$212,718.86, with prices ranging from US$32.24 to US$32.58.
• Prior to June 3, 2025, a total of 10,855,499 Class B shares had been repurchased for US$229,309,334.28.
• The highest price paid for Class A stock since the program's inception 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 stock since the program's inception was US$35.25 on February 19, 2025, and the lowest was US$15.17 on September 29, 2022.
• The repurchase program aims to enhance shareholder value and is conducted in the open market or otherwise, subject to market conditions and stock price.

Sentiment

Score: 7

Explanation: The document provides a factual update on an ongoing share repurchase program, which is generally viewed positively by investors as it aims to enhance shareholder value and indicates financial strength. There are no negative surprises or new risks introduced beyond standard forward-looking statement disclaimers.

Positives

• The ongoing stock repurchase program demonstrates the company's commitment to returning capital to shareholders.
• The program is intended to enhance shareholder value.

Risks

• Forward-looking statements regarding the repurchase program are subject to uncertainty and changes in circumstances.
• Actual results may vary materially due to changes in the market price of the Company's stock.
• General market conditions could impact the effectiveness or continuation of the program.
• Applicable securities laws and alternative investment opportunities may influence the program's execution.

Future Outlook

News Corporation intends to continue repurchasing its Class A and Class B common stock from time to time, subject to market conditions, the market price of its stock, and other factors, as part of its ongoing $1 billion 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."
• "The repurchase program is designed to enhance shareholder value."

Industry Context

Share repurchase programs are a common capital allocation strategy employed by mature companies to return value to shareholders, often signaling management's confidence in the company's valuation and future cash flows. This ongoing program by News Corporation aligns with typical practices in the media and information services industry.

Stakeholder Impact

• Shareholders: Potential positive impact through enhanced shareholder value due to reduced share count and increased earnings per share, assuming the repurchased shares are retired.
• Investors: Provides transparency on the company's capital allocation strategy and ongoing efforts to return capital.

Next Steps

• News Corporation will continue to execute its authorized $1 billion stock repurchase program.
• The company will provide daily disclosures of transactions to the Australian Securities Exchange (ASX) if any repurchases occur.
• Further information concerning the Repurchase Program will be disclosed in the Company's quarterly and annual reports.

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