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News Corp (NASDAQ:NWSA) (NASDAQ:NWSA, NASDAQ:NWS), currently trading at $29.67 with a market capitalization of $17.63 billion, reported Monday that it continues to be authorized to repurchase up to $1 billion in aggregate of its outstanding Class A and Class B common stock under its existing stock repurchase programs. According to InvestingPro analysis, the company appears fairly valued at current levels. The company is required to provide daily disclosure of transactions related to these repurchase programs to the Australian Securities Exchange, and also includes related information in its quarterly and annual reports.
The company attached copies of the information provided to the Australian Securities Exchange as exhibits to its SEC filing. News Corp stated that forward-looking statements regarding its intent to repurchase shares are based on current management expectations and are subject to change due to various factors, including market price, general market conditions, and applicable securities laws.
This information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, News Corp has provided updates on its ongoing stock repurchase program, which allows the company to buy back up to $1 billion of its Class A and Class B common stock. This authorization is part of a broader strategy to manage its capital structure and is included in filings with the Securities and Exchange Commission. The company is required to disclose any transactions related to this program on a daily basis to the Australian Securities Exchange, as per ASX rules. News Corp also includes this information in its quarterly and annual reports, ensuring transparency with its investors.
The company has reiterated that any statements about its intent to repurchase shares are forward-looking, based on current management expectations. These statements are subject to change due to various factors such as market conditions, applicable securities laws, and alternative investment opportunities. No specific financial statements or transaction details were disclosed in the recent filings. The information about the stock repurchase program is based on press release statements included in SEC filings.
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