8-K: News Corporation Continues US$1 Billion Stock Repurchase Program, Details Latest Buy-back Activity

News Corporation has filed an 8-K detailing its ongoing stock repurchase program, including recent daily buy-back transactions for its Class A and Class B common stock.

Summary

• News Corporation is authorized to acquire up to US$1 billion in aggregate of its outstanding Class A and Class B common stock under its Repurchase Program.
• As of July 1, 2025, the company has repurchased approximately US$691,127,756.50 worth of Class A and Class B shares combined under the program.
• On July 1, 2025, News Corporation repurchased 11,527 Class A shares for US$343,602.58 and 5,773 Class B shares for US$198,845.21.
• The highest price paid for Class A shares under the program 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 shares under the program was US$35.25 on February 19, 2025, and the lowest was US$15.17 on September 29, 2022.
• The remaining authorization under the US$1 billion program is approximately US$308,872,243.50.

Sentiment

Score: 7

Explanation: The document details the ongoing execution of a significant stock repurchase program, which is generally viewed positively by investors as a means of returning capital to shareholders and enhancing shareholder value.

Positives

• The ongoing stock repurchase program is designed to enhance shareholder value.
• The company continues to actively execute on its previously announced US$1 billion buy-back authorization, demonstrating commitment to capital return.

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 could impact the effectiveness and execution of the program.
• Applicable securities laws and alternative investment opportunities may influence the company's ability to complete the repurchases as intended.
• Other risks, uncertainties, and factors described in the company's filings with the Securities and Exchange Commission could affect the program.

Future Outlook

The company intends to repurchase 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 the company's stock, and other factors.

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 buy-back is to enhance shareholder value.

Industry Context

Stock repurchase programs are a common corporate finance strategy used by mature companies to return capital to shareholders, reduce the number of outstanding shares, and potentially boost earnings per share, signaling management's confidence in the company's valuation.

Stakeholder Impact

• Shareholders: Potential for enhanced shareholder value through a reduced share count and increased earnings per share.

Next Steps

• Continue repurchases of Class A and Class B common stock under the existing US$1 billion program.
• Provide daily disclosures to the Australian Securities Exchange (ASX) regarding transactions under the Repurchase Program.
• Disclose information concerning the Repurchase Program in quarterly and annual reports.

Key Dates

Keywords

News Corporation, stock repurchase, share buyback, Class A common stock, Class B common stock, shareholder value, ASX, SEC filing, capital return