News Corporation (NWS) outlines $1B buyback disclosure to Australian Securities Exchange
Rhea-AI Filing Summary
News Corporation filed an update describing how it reports activity under 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 the aggregate of these outstanding shares from time to time. Under Australian Securities Exchange rules, News Corporation must provide daily disclosure to the ASX of any transactions executed under these repurchase programs and also includes this information in its quarterly and annual reports.
The filing notes that the attached ASX materials, furnished as Exhibits 99.1 and 99.2, contain forward‑looking statements about the company’s intent to repurchase shares. These statements depend on factors such as the stock price, overall market conditions, securities laws and alternative investment opportunities, as well as risks described in the company’s SEC reports. News Corporation emphasizes that these forward‑looking statements speak only as of the report date and that it does not undertake to update them except as required by law.
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FAQ
What did News Corporation (NWS) disclose in this 8-K about its stock repurchase programs?
News Corporation described how it reports activity under its existing stock repurchase programs for its Class A and Class B common stock. It explained that information on any share repurchases is provided daily to the Australian Securities Exchange and is also included in the company’s quarterly and annual reports.
How large are News Corporation’s current 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. These repurchases may occur from time to time, subject to market conditions and other factors.
Why is News Corporation providing information to the Australian Securities Exchange (ASX)?
Under ASX rules, News Corporation must give the ASX daily disclosure of any transactions conducted under its stock repurchase programs. The filing attaches as Exhibits 99.1 and 99.2 copies of the information provided to the ASX on the dates indicated in those exhibits.
What forward-looking statements are associated with News Corporation’s repurchase programs?
The attached ASX materials include forward-looking statements about News Corporation’s intent to repurchase its Class A and Class B common stock from time to time. These statements reflect management’s current expectations and are subject to uncertainties and changes in circumstances.
What factors could affect News Corporation’s future share repurchases?
The company notes that actual repurchase activity may differ from forward-looking statements due to factors such as changes in the market price of its stock, general market conditions, applicable securities laws, and alternative investment opportunities, as well as risks and uncertainties described in its SEC filings.
Does News Corporation commit to updating its forward-looking statements on share repurchases?
News Corporation states that the forward-looking statements included in the attached information are made only as of the date of the report. The company does not undertake any obligation to publicly update these statements to reflect subsequent events or circumstances, except as required by law or regulation.
