News Corp updates on $1 billion stock repurchase program in SEC filing

News Corporation (NASDAQ:NWSA, NASDAQ:NWS), with a market capitalization of $17.75 billion, provided an update Monday regarding its ongoing stock repurchase programs. According to a statement based on a Securities and Exchange Commission filing, the company remains authorized to acquire up to $1 billion in aggregate of its outstanding Class A and Class B common shares. Based on InvestingPro analysis, the stock is currently fairly valued, with a healthy free cash flow of $701 million.

News Corp (NASDAQ:NWSA) stated that under Australian Securities Exchange (ASX) rules, it is required to disclose daily any transactions related to these repurchase programs. The company also reports such information in its quarterly and annual filings. The stock has shown solid momentum with an 8.83% return year-to-date, and maintains a strong financial position with a current ratio of 1.68.

The filing noted that News Corp periodically provides updates to the ASX, and copies of these communications were included as exhibits in the SEC filing. The company reiterated that its statements about the repurchase program include forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, and that actual results may differ due to factors such as market price, general conditions, and applicable laws. For deeper insights into News Corp’s financial health (rated GOOD by InvestingPro) and detailed analysis of its repurchase program impact, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

The information is based on a press release statement and the company’s current SEC filing.

In other recent news, News Corp has reiterated its authorization to repurchase up to $1 billion in aggregate of its Class A and Class B common stock under its ongoing stock repurchase programs. The company disclosed these details in a filing with the U.S. Securities and Exchange Commission, emphasizing its compliance with Australian Securities Exchange (ASX) rules, which require daily transaction disclosures. News Corp includes updates on this program in its quarterly and annual reports, and the filing contained exhibits of information previously provided to the ASX. The company highlighted that forward-looking statements related to the repurchase program are based on current management expectations and may change due to factors like market price and general conditions. News Corp has not disclosed specific details about recent share repurchase activity in the filing. The company also noted that it is not obligated to update these forward-looking statements, except as required by law.

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