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News Corp (NASDAQ:NWSA, NASDAQ:NWS), the $16.65 billion media conglomerate with a "GOOD" financial health rating according to InvestingPro, provided an update Thursday on its ongoing stock repurchase programs, which authorize the company to acquire up to $1 billion in aggregate of its outstanding Class A and Class B common stock. The company, whose stock has gained 7.44% year-to-date and trades near its 52-week high of $30.75, is required to disclose daily transactions related to these programs to the Australian Securities Exchange under ASX rules and also reports on the programs in its quarterly and annual filings.
According to the press release statement included in the SEC filing, News Corp attaches copies of the information provided to the ASX as exhibits to the report. The company noted that forward-looking statements regarding its intent to repurchase shares are based on current management expectations and are subject to uncertainties, including market conditions and applicable securities laws. Discover more detailed financial metrics and exclusive insights about News Corp in the comprehensive Pro Research Report, available on InvestingPro.
The filing emphasizes that actual repurchase activity may differ from stated intentions due to various factors. News Corp stated it does not undertake any obligation to update forward-looking statements except as required by law.
The information in this article is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, News Corp has announced ongoing updates concerning its stock repurchase programs. The company is authorized to repurchase up to $1 billion in aggregate of its outstanding Class A and Class B common stock. As part of regulatory compliance, News Corp provides daily disclosures of transactions related to these repurchase programs to the Australian Securities Exchange (ASX). Additionally, the company includes detailed information about these programs in its quarterly and annual reports. The updates were filed with the U.S. Securities and Exchange Commission and are consistent with ASX requirements. News Corp has emphasized that any forward-looking statements regarding its intent to repurchase shares are subject to changes based on various market factors. These disclosures are part of the company’s commitment to transparency in its financial operations.
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