[8-K] NEWS CORP Reports Material Event
Rhea-AI Filing Summary
News Corporation filed an 8-K describing its ongoing stock repurchase programs, under which it is authorized to acquire up to $1 billion in aggregate of its outstanding Class A and Class B common stock. The company explains that, under Australian Securities Exchange rules, it must provide daily disclosure of any repurchase transactions and that this information is also included in its quarterly and annual reports. The filing attaches as Exhibits 99.1 and 99.2 the information supplied to the ASX and notes that these materials contain forward-looking statements about potential future share repurchases that are subject to market conditions, legal requirements and other risk factors outlined in its SEC filings.
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FAQ
What did News Corporation (NWS) announce in this 8-K filing?
News Corporation reported on its existing stock repurchase programs, under which it is authorized to buy back up to $1 billion of its Class A and Class B common stock, and furnished related disclosure it provided to the Australian Securities Exchange as exhibits.
How large is News Corporation's current share repurchase authorization?
The company is authorized to repurchase, from time to time, up to $1 billion in the aggregate of its outstanding Class A common stock and Class B common stock under its stock repurchase programs.
Why is News Corporation providing information to the Australian Securities Exchange about its buybacks?
Under Australian Securities Exchange (ASX) rules, News Corporation must provide daily disclosure of transactions under its stock repurchase programs, if any, and it has attached the information provided to the ASX as Exhibits 99.1 and 99.2.
Which exhibits are included with this News Corporation 8-K?
The filing includes Exhibit 99.1 and Exhibit 99.2, which contain information provided to the Australian Securities Exchange, and Exhibit 104, the cover page interactive data file embedded within the Inline XBRL document.
What forward-looking statements does News Corporation highlight in this filing?
The company notes that the attached information contains forward-looking statements regarding its intent to repurchase, from time to time, its Class A and Class B common stock, and that actual results may differ materially due to factors such as stock price changes, market conditions, securities laws and alternative investment opportunities.
Does News Corporation commit to updating its forward-looking repurchase statements?
News Corporation states that its forward-looking statements in the information provided are made only as of the date of the report and that it does not undertake any obligation to publicly update these statements, except as required by law or regulation.
