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News Corporation (market cap: $16.83B) provided updates on its ongoing $1 billion stock repurchase program to the Australian Securities Exchange (ASX), according to an 8-K filing released Monday. The company's strong free cash flow of $701M and healthy current ratio of 1.68 support its buyback initiative.
The company, which is dual-listed on Nasdaq and the ASX, disclosed that it is required to provide daily transaction updates to the ASX regarding any repurchases of its Class A common stock (NASDAQ:NWSA), currently trading at $28.35, and Class B common stock (NASDAQ:NWS).
The filing included two exhibits containing information that was submitted to the ASX on June 20, 2025, detailing specific repurchase activities. These exhibits contain forward-looking statements regarding the company's intent to repurchase shares from time to time.
News Corp noted that actual repurchase activities may vary based on several factors, including changes in stock price, general market conditions, applicable securities laws, and alternative investment opportunities.
The company also reminded investors that it regularly discloses information about the repurchase program in its quarterly and annual reports, in addition to the daily ASX disclosures.
The stock repurchase program represents News Corp's ongoing capital allocation strategy as the media conglomerate continues to manage its financial position in the current market environment.
In other recent news, News Corporation has announced the continuation of its stock repurchase program, which allows the company to buy back up to $1 billion of its Class A and Class B common stock. This program is part of News Corp's strategy to manage its capital and enhance shareholder value. The company is required to report daily repurchase transactions to the Australian Securities Exchange (ASX) and include these details in its quarterly and annual financial statements. According to recent SEC filings, the repurchase plan is subject to market conditions and other factors, and the company has issued forward-looking statements regarding its intentions to repurchase shares. These statements are based on current management expectations but may change due to various factors such as market price fluctuations and legal requirements. News Corp has also stated that it does not have an obligation to update these forward-looking statements unless required by law. The company's stock is listed on The Nasdaq Global Select Market under the symbols NWSA and NWS.
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