News Corp Continues $1 Billion Stock Repurchase

NEW YORK - News Corporation (NWSA), a global media and information services company with a market capitalization of $15.9 billion and annual revenue of $10.25 billion, has announced the continuation of its stock repurchase program, which authorizes the acquisition of up to $1 billion of the company’s Class A common stock and Class B common stock. According to InvestingPro analysis, the company is currently fairly valued based on its proprietary Fair Value model. The disclosure, required by the Australian Securities Exchange (ASX) rules, was also included in the company’s recent SEC filing.

The repurchase program, part of News Corp (NASDAQ:NWSA)’s capital allocation strategy, allows the company to buy back shares on a discretionary basis. With a strong Piotroski Score of 9 and a healthy current ratio of 1.73, InvestingPro data indicates the company maintains a FAIR financial health rating. The program’s transactions are reported daily to the ASX and are also disclosed in the company’s quarterly and annual reports.

The information provided to the ASX includes forward-looking statements regarding the company’s intent to repurchase its stock over time. However, these plans are subject to change based on various factors such as the market price of News Corp’s stock, general market conditions, applicable securities laws, and alternative investment opportunities.

News Corp’s filings with the Securities and Exchange Commission outline the risks, uncertainties, and factors that could cause actual results to differ from those expressed in the forward-looking statements. The company has stated that it does not have any obligation to update these statements to reflect events or circumstances that occur after the date of the report, except as required by law or regulation.

The repurchase program reflects News Corp’s confidence in its financial strength and commitment to delivering value to its shareholders. The company’s strategic management of its capital demonstrates a focus on long-term growth and shareholder returns.

The stock repurchase program is a common practice among publicly traded companies, allowing them to return capital to shareholders and potentially increase earnings per share by reducing the number of outstanding shares.

This news is based on a press release statement and the latest 8-K filing with the SEC by News Corporation.

In other recent news, News Corp continues to actively execute its $1 billion stock repurchase program for its Class A and Class B common stock. This initiative, disclosed in a recent filing with the U.S. Securities and Exchange Commission (SEC), underscores the company’s strategy to enhance shareholder value. The program requires daily transaction reports to the Australian Securities Exchange (ASX), ensuring transparency in its buyback activities. News Corp’s filings reveal that the repurchase plans are subject to market conditions, stock price fluctuations, and applicable legal requirements. The company has emphasized that its forward-looking statements are based on current management expectations and may change due to various factors. Investors are advised that News Corp does not commit to updating these statements unless required by law. The buyback program is part of News Corp’s broader financial strategy, detailed in its quarterly and annual reports filed with the SEC. This ongoing activity reflects News Corp’s confidence in its financial health and future prospects.

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