News Corp details ongoing $1 billion stock repurchase program in SEC filing

News Corp (NASDAQ:NWSA, NASDAQ:NWS), with a market capitalization of $15.47 billion, disclosed Thursday that it remains authorized to repurchase up to $1 billion in aggregate of its Class A and Class B common stock under its existing stock repurchase programs. According to InvestingPro data, the company maintains a healthy financial position with $727 million in free cash flow and a solid current ratio of 1.84. The company stated that it provides daily transaction disclosures to the Australian Securities Exchange (ASX) and includes repurchase information in its quarterly and annual reports.

According to the press release statement included in the SEC filing, News Corp is required by ASX rules to report any stock repurchase transactions on a daily basis. The company noted that copies of information provided to the ASX were attached as exhibits to the filing. With a conservative debt-to-equity ratio of 0.34 and an overall Financial Health Score rated as "Good" by InvestingPro, the company appears well-positioned to execute its repurchase program.

The company reiterated that statements regarding its intent to repurchase shares are forward-looking and subject to changes in stock price, market conditions, and applicable securities laws. News Corp emphasized that it is not obligated to update any forward-looking statements except as required by law or regulation.

This information is based on a press release statement included in News Corp’s Form 8-K filed with the Securities and Exchange Commission.

In other recent news, News Corp has reiterated its authorization to repurchase up to $1 billion of its outstanding Class A and Class B common stock. This ongoing stock repurchase program was highlighted in a statement to the Australian Securities Exchange, as required by ASX rules. News Corp is committed to providing daily disclosures of any transactions under this program to the Australian Securities Exchange. Additionally, the company includes information about these repurchase activities in its quarterly and annual reports. The company has also filed a press release with the Securities and Exchange Commission, detailing these activities and including forward-looking statements about its intent to repurchase shares. These statements are subject to various uncertainties and risks, including changes in market price and conditions, as outlined in their SEC filings. News Corp’s disclosures are part of its regulatory obligations and ensure transparency with its investors.

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