News Corporation (NWS) outlines $1B stock buyback 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 in total of its Class A and Class B common stock from time to time. It explains that, under Australian Securities Exchange rules, it must provide daily disclosure of any repurchase transactions and that it also reports this information in its quarterly and annual reports. The company has attached to this report the same information it provided to the Australian exchange, and notes that these materials contain forward-looking statements about potential future share repurchases that may change based on market conditions and other factors.
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FAQ
What did News Corporation (NWS) disclose about its share repurchase programs?
News Corporation described its existing stock repurchase programs, under which it is authorized to acquire up to $1 billion in aggregate of its Class A and Class B common stock from time to time.
How does News Corporation report share repurchases related to the $1 billion program?
Under Australian Securities Exchange rules, News Corporation provides the ASX with daily disclosure of any transactions under its repurchase programs and also reports this information in its quarterly and annual reports.
What are Exhibits 99.1 and 99.2 in News Corporations 8-K?
Exhibits 99.1 and 99.2 are copies of the information that News Corporation provided to the Australian Securities Exchange on the dates noted in those exhibits regarding activity under its repurchase programs.
Do the News Corporation repurchase disclosures contain forward-looking statements?
Yes. The company states that the information provided to the ASX and attached as Exhibits 99.1 and 99.2 includes forward-looking statements about its intent to repurchase Class A and Class B shares from time to time.
What risks could affect News Corporations future share repurchases?
News Corporation notes that actual repurchase activity may differ due to factors such as changes in its stock price, general market conditions, applicable securities laws, alternative investment opportunities, and risks described in its SEC filings.
Is News Corporation obligated to update its forward-looking repurchase statements?
The company states that it does not undertake any obligation to publicly update forward-looking statements about repurchases to reflect later events or circumstances, except as required by law or regulation.
