News Corporation (NWS) details $1B stock buyback reports to ASX
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 aggregate of its outstanding shares under these programs, which has been reported previously. Because its shares also trade on the Australian Securities Exchange (ASX), News Corp must provide daily disclosure to the ASX of any buyback transactions. Copies of this ASX information, covering activity under the repurchase programs, are included as Exhibits 99.1 and 99.2 to this report. The company notes that statements about its intent to repurchase shares are forward-looking and may change based on stock price, market conditions, laws and other risks described in its SEC filings.
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FAQ
What did News Corporation (NWS) disclose in this 8-K filing?
News Corporation provided an update on its existing stock repurchase programs and furnished to investors the same information about buyback activity that it is required to supply daily to the Australian Securities Exchange, included as Exhibits 99.1 and 99.2.
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.
Which classes of News Corporation shares are covered by the repurchase programs?
The repurchase programs cover both Class A common stock and Class B common stock, each with a par value of $0.01 per share.
Why is News Corporation providing information to the Australian Securities Exchange?
Under Australian Securities Exchange rules, News Corporation must provide daily disclosure of transactions made under its stock repurchase programs, so it supplies that information to the ASX and has attached copies as exhibits for investors.
Does News Corporation consider its repurchase plans forward-looking statements?
Yes. The company states that comments about its intent to repurchase Class A and Class B shares are forward-looking statements subject to risks and uncertainties, including stock price changes, market conditions, securities laws and other factors described in its SEC filings.
Where can investors find the detailed repurchase information mentioned in the filing?
Detailed information that News Corporation provided to the Australian Securities Exchange regarding its repurchase programs is attached to this report as Exhibit 99.1 and Exhibit 99.2.
