News Corporation (NASDAQ: NWS) updates on $1 billion stock repurchase reporting
Rhea-AI Filing Summary
News Corporation filed a report describing how it handles disclosures related to its existing stock repurchase programs. The company is authorized to acquire up to $1 billion in total of its outstanding Class A and Class B common stock under these programs. Because its shares also trade on the Australian Securities Exchange (ASX), News Corporation must provide the ASX with daily updates on any repurchase activity.
The company has attached as Exhibits 99.1 and 99.2 the same information it provided to the ASX. It explains that any statements about future share repurchases are forward-looking, based on management’s current expectations, and may change if stock prices, market conditions, laws, or alternative investment opportunities shift.
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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 and furnished to investors the same repurchase information it provides daily to the Australian Securities Exchange as Exhibits 99.1 and 99.2.
How large are News Corporation's stock repurchase programs mentioned in the filing?
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.
Why is News Corporation reporting buyback information to the Australian Securities Exchange?
Under ASX rules, News Corporation is required to provide the Australian Securities Exchange with daily disclosure of any transactions executed under its stock repurchase programs, and this filing shares those disclosures with U.S. investors.
What are Exhibits 99.1 and 99.2 in the News Corporation (NWS) 8-K?
Exhibit 99.1 and Exhibit 99.2 are copies of the information that News Corporation provided to the Australian Securities Exchange on the dates noted in each exhibit regarding its stock repurchase programs.
How does News Corporation describe forward-looking statements about its share repurchases?
The company states that comments about its intent to repurchase Class A and Class B common stock are forward-looking statements based on current expectations, and that actual results may differ due to stock price movements, market conditions, securities laws, and other risk factors described in its SEC filings.
Does News Corporation commit to updating its forward-looking repurchase statements?
News Corporation states that its forward-looking statements are made only as of the date of the report and that it does not undertake any obligation to update them, except as required by law or regulation.
