News Corporation (NWS) details up to $1B share repurchase programs
Rhea-AI Filing Summary
News Corporation filed an update about its existing stock repurchase programs for its Class A and Class B common stock. The company is authorized to acquire up to $1 billion in total of its outstanding shares under these programs. Because its shares also trade on the Australian Securities Exchange (ASX), News Corporation must provide the ASX with daily disclosure of any repurchase transactions and also includes information on these programs in its quarterly and annual reports.
The filing notes that information furnished to the ASX, attached as Exhibits 99.1 and 99.2, includes forward-looking statements about the company’s intent to repurchase stock from time to time. These statements are based on current expectations and could change due to stock price movements, market conditions, securities laws, alternative investment opportunities, and other risk factors described in the company’s SEC filings.
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FAQ
What stock repurchase authority does News Corporation (NWS) currently have?
News Corporation is authorized under its stock repurchase programs to acquire, from time to time, up to $1 billion in the aggregate of its outstanding Class A and Class B common stock.
Which News Corporation (NWS) share classes are covered by the repurchase programs?
The repurchase programs cover both Class A common stock and Class B common stock of News Corporation.
Why does News Corporation (NWS) provide repurchase information to the Australian Securities Exchange?
Under the rules of the Australian Securities Exchange (ASX), News Corporation is required to provide daily disclosure to the ASX of transactions made under its stock repurchase programs, if any.
Where can investors find more details on News Corporation’s (NWS) buybacks?
Information about the repurchase programs is included in News Corporation’s quarterly and annual reports, and copies of the information provided to the ASX are attached as Exhibits 99.1 and 99.2 to this report.
Does News Corporation (NWS) make forward-looking statements about its share repurchases?
Yes. The information provided to the ASX includes forward-looking statements about News Corporation’s intent to repurchase its Class A and Class B common stock from time to time, which are subject to risks and uncertainties.
What factors could affect News Corporation’s (NWS) future share repurchases?
The company states that actual repurchases may differ from current intent due to factors such as changes in the market price of its stock, general market conditions, applicable securities laws, alternative investment opportunities, and other risks described in its SEC filings.
