News Corporation (NWS) outlines $1B share repurchase disclosures to ASX
Rhea-AI Filing Summary
News Corporation filed an update describing how it reports activity under its existing stock repurchase programs. The company is authorized to buy back up to $1 billion of its Class A and Class B common stock from time to time. Under Australian Securities Exchange rules, News Corp must disclose any such transactions to the ASX on a daily basis and also reports information about these repurchases in its quarterly and annual reports.
The company has attached to this report two exhibits that reproduce the information it provided to the ASX on the dates noted in those exhibits. It also highlights that any statements about its intent to repurchase shares are forward-looking, may change with market conditions and legal requirements, and are not being updated beyond the date of this report.
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FAQ
What did News Corporation (NWS) announce in this 8-K filing?
News Corporation described how it reports activity under its stock repurchase programs, reaffirming that it may buy back up to $1 billion of its Class A and Class B shares and attaching to this report the same daily disclosure information it provided to the Australian Securities Exchange.
How large is News Corporation's current stock repurchase authorization?
The company is authorized to acquire, from time to time, up to $1 billion in the aggregate of its outstanding Class A and Class B common stock under its stock repurchase programs.
How does News Corporation (NWS) disclose share repurchases to the Australian Securities Exchange?
Under Australian Securities Exchange rules, News Corporation must provide daily disclosure of any transactions executed under its stock repurchase programs, and copies of this information are attached as Exhibits 99.1 and 99.2 to the report.
Where can investors find more details on News Corporation's repurchase activity?
Details are included in the information provided to the Australian Securities Exchange, which is attached as Exhibits 99.1 and 99.2, and in the company’s quarterly and annual reports.
Are News Corporation's share repurchase plans guaranteed to occur as described?
No. The company states that its repurchase intentions are forward-looking statements subject to changes in stock price, market conditions, securities laws, alternative investments and other risks described in its SEC filings.
Does News Corporation commit to updating its repurchase-related forward-looking statements?
The company notes that its forward-looking statements about repurchases are made only as of the date of the report and that it does not undertake any obligation to publicly update them, except as required by law or regulation.
