News Corp continues $1 billion stock repurchase

News Corporation has disclosed ongoing transactions under its stock repurchase program, which authorizes the buyback of up to $1 billion of its Class A and Class B common stock. The company, listed on the Nasdaq Global Select Market under the tickers (NASDAQ:NWSA) for Class A shares and (NASDAQ:NWS) for Class B shares, provided this information to the Australian Securities Exchange (ASX) as required by ASX rules, and also includes updates on the repurchase program in its quarterly and annual reports.

With a current market capitalization of $17.02 billion and trading at $28.50, InvestingPro analysis indicates the stock is currently trading above its Fair Value.

The latest filing, dated February 6, 2025, indicates that News Corp remains committed to the repurchase initiative. The stock has shown strong momentum, delivering an 18.32% return over the past year and maintaining a GOOD Financial Health Score according to InvestingPro metrics. However, the company also notes that the actual results of the repurchase program may vary based on several factors, including stock price fluctuations, market conditions, and changes in securities laws or investment opportunities.

News Corp’s management states that these forward-looking statements are based on current expectations and beliefs, acknowledging that circumstances could change, potentially affecting the outcome of the repurchase program. The company has not specified the number of shares repurchased to date or the specific timeline for the completion of the program.

This information, based on a press release statement, emphasizes News Corp’s ongoing efforts to manage its capital allocation strategy through the repurchase of its own shares, a common practice among publicly traded companies seeking to return value to shareholders.

For deeper insights, InvestingPro subscribers can access the comprehensive Pro Research Report, which includes detailed analysis of News Corp’s financial health, valuation metrics, and growth prospects among 1,400+ top US stocks.

In other recent news, News Corporation continues to execute its ongoing stock repurchase program, which allows the company to buy back up to $1 billion of its Class A and Class B common stock. This initiative is a part of News Corp’s strategy to manage its capital and potentially increase shareholder value.

According to recent filings with the Securities and Exchange Commission (SEC), the company is required to report daily to the Australian Securities Exchange (ASX) about any buyback activities for transparency and regulatory compliance.

The SEC filings contain forward-looking statements, indicating that News Corp intends to repurchase shares based on various factors, including market conditions and stock prices. However, these statements are subject to change, and the actual outcomes may differ due to market fluctuations, legal requirements, and other investment opportunities.

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