News Corp continues stock repurchase program

News Corp (market cap: $14.52 billion) 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, in compliance with the Australian Securities Exchange (ASX) rules, provides daily updates on the repurchase activity. According to InvestingPro data, the stock currently trades at $24.58 and appears slightly undervalued based on Fair Value analysis.

The information, released as part of the company’s routine financial disclosures, reaffirms News Corp’s strategy to reacquire shares from the market. With a healthy current ratio of 1.73 and substantial free cash flow of $663 million, the company appears well-positioned to execute its buyback program. The repurchase decisions are subject to market conditions, stock price, applicable laws, and other investment opportunities. These factors could influence the timing and amount of any buybacks.

The recent disclosure, based on a statement filed with the Securities and Exchange Commission (SEC) on Monday, is in line with News Corp’s approach to shareholder returns and capital management. The company’s management has not specified a timeline for the completion of the repurchase program, indicating that the buybacks will occur intermittently and depend on various market and company factors.

Investors should note that the forward-looking statements regarding the repurchase program are subject to change due to market risks and uncertainties. News Corp has stated that it does not have an obligation to update any forward-looking statements unless required by law.

This latest development reflects News Corp’s ongoing efforts to manage its capital effectively and deliver value to its shareholders. The company maintains a GOOD financial health score according to InvestingPro analysis, with annual revenue of $10.25 billion. The company’s stock is traded on the Nasdaq Global Select Market under the tickers (NASDAQ:NWSA) for Class A shares and (NASDAQ:NWS) for Class B shares. For deeper insights into News Corp’s financial health and growth potential, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

The repurchase program is part of News Corp’s broader financial strategy, as detailed in its quarterly and annual reports. The company’s filings with the SEC provide additional context and information about its financial decisions and performance.

For further details on the repurchase transactions, investors can refer to the exhibits attached to the SEC filing by News Corp. The exhibits include information provided to the ASX on specified dates regarding the repurchase program.

In other recent news, News Corp has reaffirmed its commitment to its $1 billion stock repurchase program. According to recent filings with the U.S. Securities and Exchange Commission (SEC), the company is actively purchasing its Class A and Class B common stock as part of this initiative. The repurchase program is a strategic move to manage capital allocation and potentially enhance shareholder value. News Corp is required to report these buyback activities daily to the Australian Securities Exchange (ASX) and include updates in its quarterly and annual reports. The company’s management has expressed confidence in the long-term value of its stock, although the repurchase plans are subject to change based on market conditions and other factors. The SEC filings also contain forward-looking statements, highlighting potential risks and uncertainties that could affect the outcomes of these repurchase activities. Investors are advised to monitor News Corp’s financial reports for further updates on the progress of this program. The company has emphasized that it will continue adhering to regulatory requirements to ensure transparency and compliance.

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