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News Corp (NASDAQ:NWSA, NASDAQ:NWS), with a market capitalization of $15.8 billion and robust free cash flow of $727 million, announced this week that it remains authorized to repurchase up to $1 billion of its outstanding Class A and Class B common stock. The company, which maintains a "Good" Financial Health Score according to InvestingPro, provided this update in a statement to the Australian Securities Exchange, as disclosed in a regulatory filing.
Under its ongoing stock repurchase programs, News Corp may acquire shares from time to time. The company is required by the rules of the Australian Securities Exchange to disclose daily any transactions made under these programs. Information about the repurchase activity is also included in News Corp’s quarterly and annual reports.
The filing reiterates that forward-looking statements about the company’s intent to repurchase shares are subject to market conditions, applicable laws, and other factors. News Corp stated that it does not undertake any obligation to update these statements, except as required by law.
This information is based on a press release statement included in News Corp’s recent SEC filing.
In other recent news, News Corp has reiterated its authorization to repurchase up to $1 billion in aggregate of its outstanding Class A and Class B common shares. The company has been actively providing daily disclosures to the Australian Securities Exchange (ASX) regarding these transactions, as mandated by ASX rules. These repurchase activities are also documented in News Corp’s quarterly and annual reports, ensuring transparency for investors. The updates were disclosed through a press release and filings with the Securities and Exchange Commission (SEC), emphasizing the company’s ongoing commitment to its stock repurchase programs. News Corp highlighted that while it intends to continue repurchasing shares, these plans are subject to market conditions and other factors detailed in its SEC filings. The company’s consistent communication about its stock buyback strategy reflects its dedication to shareholder value.
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