News Corporation (NASDAQ: NWS) details $1B stock repurchase disclosures to ASX
Rhea-AI Filing Summary
News Corporation filed an 8-K to update investors on its existing stock repurchase programs covering its Class A and Class B common stock. The company is authorized to buy back up to $1 billion in total of its outstanding shares under these programs, as previously reported. Because its shares also trade on the Australian Securities Exchange, News Corporation must provide daily disclosure to that exchange when it repurchases stock, and it has attached to this filing the same information that was sent to the ASX as Exhibits 99.1 and 99.2. The company notes that any statements about future repurchases are forward-looking and may change based on stock price, market conditions, laws, and other factors described in its SEC reports.
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FAQ
What did News Corporation (NWS) report in this 8-K filing?
News Corporation reported that it continues to operate its stock repurchase programs for Class A and Class B common stock and attached information it provided to the Australian Securities Exchange about these repurchases as Exhibits 99.1 and 99.2.
How large are News Corporation's authorized stock repurchase programs?
The company is authorized to acquire up to $1 billion in the aggregate of its outstanding Class A and Class B common stock under its stock repurchase programs.
Why does News Corporation provide repurchase information to the Australian Securities Exchange?
Under Australian Securities Exchange rules, News Corporation must disclose on a daily basis any share transactions made under its stock repurchase programs, so it supplies that information regularly to the ASX.
What are Exhibits 99.1 and 99.2 in the News Corporation 8-K?
Exhibits 99.1 and 99.2 are copies of the information the company provided to the Australian Securities Exchange on the respective dates noted in those exhibits regarding activity under its stock repurchase programs.
Does News Corporation describe its stock repurchase plans as forward-looking?
Yes. Statements about the company's intent to repurchase Class A and Class B shares from time to time are identified as forward-looking and may differ from actual results due to stock price changes, market conditions, laws, and other risk factors in its SEC filings.
Where else does News Corporation disclose information about its stock repurchase programs?
The company states that it also discloses information about its stock repurchase programs in its quarterly and annual reports filed with the Securities and Exchange Commission.
