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

News Corporation announced continued progress on its $1 billion stock repurchase program, having acquired approximately $691.7 million in Class A and Class B common stock to date, with daily buybacks reported for July 2, 2025.

Summary

• News Corporation is continuing its stock repurchase program, authorized to acquire up to $1 billion in aggregate of its Nasdaq-listed Class A common stock and Class B common stock.
• The primary objective of this repurchase program is to enhance shareholder value.
• As of July 2, 2025, the company has repurchased approximately $691,665,828.00 worth of Class A and Class B shares combined under the program.
• This leaves approximately $308,334,172.00 remaining under the current $1 billion authorization.
• On July 2, 2025, 11,527 Class A shares were bought back for a total consideration of $340,315.08, with prices ranging from $29.40 to $29.81.
• On July 2, 2025, 5,773 Class B shares were bought back for a total consideration of $197,756.42, with prices ranging from $34.15 to $34.39.
• The highest price paid for Class A shares since the program's inception was $30.69 on February 19, 2025, and the lowest was $14.88 on September 29, 2022.
• The highest price paid for Class B shares since the program's inception was $35.25 on February 19, 2025, and the lowest was $15.17 on September 29, 2022.
• The buyback program does not require security holder approval and has no restrictions on foreign participation.

Sentiment

Score: 7

Explanation: The document indicates consistent execution of a shareholder-friendly capital return program, which is generally positive. No negative news or significant deviations from expectations are present, suggesting a stable outlook regarding this specific program.

Positives

• The ongoing stock repurchase program is explicitly stated to enhance shareholder value.
• The company is actively executing its authorized buyback, demonstrating a commitment to returning capital to shareholders.
• A significant portion of the $1 billion authorization has already been utilized, indicating consistent progress.

Risks

• Actual results of the repurchase program may vary materially from forward-looking statements due to changes in the market price of the company's stock, general market conditions, applicable securities laws, and alternative investment opportunities.
• The program is subject to various risks, uncertainties, and other factors described in the company's filings with the Securities and Exchange Commission.

Future Outlook

The company intends to repurchase Class A and Class B common stock from time to time, subject to market conditions, the market price of its stock, applicable securities laws, and alternative investment opportunities. Forward-looking statements are made only as of the report date, and the company does not undertake any obligation to publicly update them, except as required by law or regulation.

Management Comments

• "The Company is authorized to acquire from time to time up to $1 billion in the aggregate of the Company's outstanding shares of Class A common stock and Class B common stock."
• "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."
• "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

This filing primarily details News Corporation's ongoing capital management strategy through its share repurchase program. It does not provide broader industry trends or competitive analysis within the media and information services sector.

Stakeholder Impact

• Shareholders: Potential for enhanced shareholder value through a reduced share count, which can lead to increased earnings per share and support the stock price.

Next Steps

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

Key Dates

Recommendation

Keywords

News Corporation, stock repurchase, share buyback, Class A common stock, Class B common stock, shareholder value, capital return, media, publishing, information services, Nasdaq, ASX