News Corp continues share buyback program

Today, News Corporation, with a current market capitalization of $17.18 billion, disclosed ongoing transactions under its stock repurchase program, which authorizes the company to buy back up to $1 billion of its Class A and Class B common stock.

The company’s commitment to the program was affirmed in a recent filing with the Securities and Exchange Commission. According to InvestingPro data, the stock has shown strong momentum with a 17.5% return over the past year.

The filing, dated February 5, 2025, indicates that News Corp (NASDAQ:NWSA) is required to report daily to the Australian Securities Exchange (ASX) any buyback activities due to regulations. This information is also included in the company’s quarterly and annual reports for shareholder transparency. Based on InvestingPro’s comprehensive analysis, the company maintains a GOOD overall Financial Health Score, suggesting strong operational performance.

In the document, News Corp stated its intent to repurchase shares from time to time, based on various factors, including market conditions and stock prices. Currently trading at $28.78, the stock is near its 52-week high of $30.04, with analysts setting price targets ranging from $24.14 to $44.00. For deeper insights into News Corp’s valuation and growth potential, InvestingPro subscribers can access detailed financial analysis and exclusive ProTips.

News Corp’s repurchase plan is part of a broader strategy to manage its capital and potentially increase shareholder value. The company’s management has the discretion to adjust the buyback program in response to changing market conditions and other relevant factors. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading above its intrinsic value, though analysts maintain a Strong Buy consensus.

The SEC filing also contains disclaimers regarding forward-looking statements, emphasizing that they reflect the company’s current expectations and are subject to change. News Corp explicitly disclaims any obligation to update these statements, except as required by law.

This announcement is based on a press release statement and is a part of News Corp’s regular communications regarding its capital allocation strategies. The company’s stock is traded on the Nasdaq Global Select Market under the symbols NWSA for Class A shares and NWS for Class B shares.

In other recent news, News Corporation has announced the continuation of its $1 billion stock repurchase program. The company’s decision was disclosed in recent filings with the Securities and Exchange Commission (SEC) and is part of a broader plan that News Corp has been implementing. As part of this initiative, the company is required to provide daily updates to the Australian Securities Exchange (ASX), ensuring transparency for investors.

The repurchase program is subject to change based on various factors, including market conditions and other investment opportunities, as stated in the company’s forward-looking statements. These statements are based on the current expectations and beliefs of the company’s management, but actual results could vary due to market risks and uncertainties.

News Corp’s commitment to the buyback program reflects a common corporate strategy to return value to shareholders. This latest development is part of News Corp’s broader financial strategy and is reported in compliance with market regulations.

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