News Corp updates on ongoing $1 billion stock repurchase program

News Corp (NASDAQ:NWSA) (NASDAQ:NWSA, NASDAQ:NWS), a media conglomerate with a market capitalization of $17.7 billion and a strong financial health rating according to InvestingPro, provided an update Tuesday on its ongoing stock repurchase program, which authorizes the company to buy back up to $1 billion of its Class A and Class B common shares. The company is required to disclose daily transactions related to this program to the Australian Securities Exchange under ASX rules.

According to the statement, News Corp periodically reports information about its repurchase activities in its quarterly and annual filings. The company included as exhibits to its latest filing the disclosures made to the Australian Securities Exchange regarding these transactions.

News Corp noted that statements about its intent to repurchase shares are forward-looking and subject to change based on factors such as market price, general conditions, securities laws, and other considerations. The company stated that it does not undertake any obligation to update these forward-looking statements except as required by law.

The announcement was made in a press release statement included in a Form 8-K filed with the Securities and Exchange Commission.

In other recent news, News Corp has provided updates on its ongoing $1 billion stock repurchase program. The company has reiterated that it is authorized to buy back up to $1 billion of its Class A and Class B common shares. This information was disclosed in a press release statement filed with the Securities and Exchange Commission. Under the rules of the Australian Securities Exchange (ASX), News Corp provides daily updates to the ASX regarding any transactions related to the repurchase program. The company has not announced any new transactions or changes to the program, emphasizing that its intent to repurchase shares is forward-looking and may change based on market conditions, stock price, and applicable laws. News Corp regularly includes information about the repurchase program in its quarterly and annual reports. The company also noted that actual repurchase activities could vary due to several factors, including changes in stock price and general market conditions. The stock repurchase program is part of News Corp’s capital allocation strategy as it manages its financial position in the current market environment.

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