News Corp continues share buyback, reports to ASX

News Corp (NASDAQ:NWSA), the global media and information services company, reported its ongoing share repurchase activities in a recent SEC filing. The company, known for its newspaper and publishing operations and currently valued at $17.48 billion in market capitalization, is executing a stock buyback program that allows for the repurchase of up to $1 billion of its Class A and Class B common stock.

According to InvestingPro analysis, the company’s stock has gained nearly 6% year-to-date, though current valuations suggest the stock may be trading above its Fair Value.

As part of its regulatory obligations, News Corp is providing daily updates to the Australian Securities Exchange (ASX) regarding the transactions under this program. These updates, which are also included in the company’s quarterly and annual reports, were attached as exhibits to the 8-K filing with the SEC. The company maintains a healthy financial position with a current ratio of 1.73 and a conservative debt-to-equity ratio of 0.35.

The repurchase program is part of News Corp’s broader strategy to manage its capital and reward shareholders. The buybacks are conducted based on market conditions, stock prices, and other investment opportunities, and are subject to applicable securities laws.

In the filing, News Corp included forward-looking statements concerning its intentions to continue repurchasing shares. However, the company highlighted that actual results could vary due to market conditions, legal requirements, and other factors detailed in their SEC filings.

The information regarding the share repurchases, as disclosed to the ASX and now to the SEC, reflects News Corp’s compliance with market regulations and transparency in its financial practices.

The SEC filing, dated February 11, 2025, provides investors with the latest data on the company’s buyback activities as of February 10, 2025, and emphasizes that forward-looking statements are based on current expectations and are subject to change. With $663 million in levered free cash flow over the last twelve months, News Corp demonstrates strong cash generation ability.

For deeper insights into News Corp’s financial health and valuation metrics, investors can access the comprehensive Pro Research Report available on InvestingPro, which includes detailed analysis of the company’s capital allocation strategy and growth prospects.

This disclosure is part of News Corp’s ongoing communication with shareholders and the investment community regarding its financial maneuvers and is based on the press release statement included in the SEC filing.

In other recent news, News Corp continues to affirm its commitment to its stock repurchase program, designed to acquire up to $1 billion of its Class A and Class B common stock. This ongoing initiative reflects the company’s strategy to manage its capital allocation and potentially increase shareholder value. The company is required by the Australian Securities Exchange (ASX) to report daily transactions related to the repurchase program, providing transparency regarding the execution of the program.

News Corp’s management has indicated its intent to continue repurchasing shares, but notes that actual results may vary due to market conditions, legal requirements, and other investment opportunities. These forward-looking statements are based on current expectations and could change, with no obligation to update the public except as required by law. This is part of News Corp’s recent developments in its capital allocation strategies. The company has not specified the number of shares repurchased to date or the specific timeline for the completion of the program.

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