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News Corp (NASDAQ:NWSA, NASDAQ:NWS), with a market capitalization of $17.7 billion and a strong financial health score of "GOOD" according to InvestingPro, provided an update on its ongoing share repurchase programs in a filing with the Securities and Exchange Commission on Monday. The company remains authorized to acquire up to $1 billion in total of its outstanding Class A and Class B common stock, supported by its robust free cash flow of $727 million.
According to the statement, News Corp reports daily to the Australian Securities Exchange (ASX) on transactions conducted under these repurchase programs, in line with ASX requirements. The company also includes related disclosures in its quarterly and annual reports. With a healthy current ratio of 1.84 and a conservative debt-to-equity ratio of 0.34, News Corp maintains a strong balance sheet position.
The filing included copies of information previously provided to the ASX as exhibits. The company noted that statements regarding its intent to repurchase shares are forward-looking and subject to changes in market price, general market conditions, applicable securities laws, and alternative investment opportunities.
The information in this article is based on a press release statement included in the SEC filing.
In other recent news, News Corp has reiterated its ongoing commitment to its stock repurchase programs, which authorize the company to buy back up to $1 billion in Class A and Class B common stock. The company is obligated to provide daily disclosures of these transactions to the Australian Securities Exchange (ASX) and includes this information in its quarterly and annual reports. This disclosure is part of the company’s compliance with ASX rules, and it also files related updates with the Securities and Exchange Commission (SEC). News Corp has attached copies of the information provided to the ASX as exhibits in its latest SEC filing. The company emphasizes that its intent to repurchase shares may vary based on market prices, general market conditions, and relevant securities laws. There have been no new changes to the authorization amount or the terms of the repurchase program. News Corp has not disclosed any modifications to the authorization limit or the terms of the program. The company continues to operate under the previously established authorization for stock repurchases.
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