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News Corp (NASDAQ:NWSA, NASDAQ:NWS), with a market capitalization of $16.7 billion and a solid financial health rating according to InvestingPro, reported Wednesday that it remains authorized to repurchase up to $1 billion of its outstanding Class A and Class B common stock under its ongoing stock repurchase programs. The company stated that, as required by the Australian Securities Exchange (ASX), it provides daily disclosures of transactions related to these repurchase programs to the ASX and includes updates in its quarterly and annual reports. With $727 million in levered free cash flow and an 8.1% year-to-date return, News Corp demonstrates strong financial performance.
The filing notes that information about the repurchase programs, including forward-looking statements regarding the company’s intent to repurchase shares, was provided to the ASX and is attached as exhibits to the filing. News Corp cautioned that these statements are based on current expectations and are subject to changes in market conditions, stock price, and other factors.
The company emphasized that it does not undertake any obligation to update forward-looking statements except as required by law or regulation.
This information is based on a press release statement included in News Corp’s recent SEC filing.
In other recent news, News Corp has announced updates regarding its ongoing stock repurchase programs. The company is authorized to acquire up to $1 billion in aggregate of its outstanding Class A and Class B common shares. These updates were disclosed in filings with the U.S. Securities and Exchange Commission and include information provided to the Australian Securities Exchange (ASX). News Corp is required to provide daily disclosures to the ASX regarding transactions under these repurchase programs. The company also includes information about these programs in its quarterly and annual reports. While the authorization to repurchase remains in place, News Corp noted that its intent to repurchase shares could be influenced by factors such as market price and general market conditions. The company has not specified any new transactions or changes to the repurchase authorization.
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