[8-K] NEWS CORP Reports Material Event
Rhea-AI Filing Summary
News Corporation filed a Form 8-K to update investors on activity under its existing stock repurchase programs. The company is authorized to buy back, from time to time, up to $1 billion in total of its outstanding Class A and Class B common stock. Because its shares also trade on the Australian Securities Exchange (ASX), News Corp must provide the ASX with daily disclosure of any repurchase transactions and makes related disclosures in its quarterly and annual reports.
The filing attaches as Exhibits 99.1 and 99.2 the information supplied to the ASX on the dates noted in those exhibits. News Corp emphasizes that these materials contain forward-looking statements about potential future repurchases, which may differ materially from actual results due to stock price movements, market conditions, legal requirements, and other risks described in the company’s SEC filings.
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FAQ
What did News Corp (NWS) announce in this Form 8-K?
News Corp reported that it continues to operate existing stock repurchase programs authorizing buybacks of up to $1 billion of its Class A and Class B common stock and is providing related disclosure to the Australian Securities Exchange (ASX).
How large are News Corp’s current stock repurchase programs?
The programs authorize News Corp to acquire up to $1 billion in the aggregate of its outstanding Class A and Class B common stock from time to time.
Why is News Corp providing information to the Australian Securities Exchange (ASX)?
Under ASX rules, News Corp must give the ASX daily disclosure of any transactions executed under its stock repurchase programs, and it also reports related information in its quarterly and annual SEC filings.
What are Exhibits 99.1 and 99.2 in News Corp’s 8-K?
Exhibits 99.1 and 99.2 are copies of the information News Corp provided to the ASX about its stock repurchase activity on the respective dates noted in each exhibit.
Does News Corp’s filing include forward-looking statements about share repurchases?
Yes. The attached ASX information includes forward-looking statements about News Corp’s intent to repurchase Class A and Class B shares, subject to market prices, general conditions, securities laws, alternative investments, and risks described in its SEC filings.
Is News Corp obligated to update its forward-looking repurchase statements?
News Corp states that its forward-looking statements are made only as of the date of the report and that it does not undertake to publicly update them, except as required by law or regulation.
