News Corp updates on ongoing $1 billion stock repurchase program

News Corporation (NASDAQ:NWSA, NASDAQ:NWS), the $17.6 billion media conglomerate currently trading at $29.61, provided an update this week regarding its ongoing stock repurchase program. The company, which maintains a strong financial health score according to InvestingPro analysis, remains authorized to acquire up to $1 billion in aggregate of its outstanding Class A and Class B common shares under the program.

According to the filing, News Corp (NASDAQ:NWSA) is required to disclose daily transactions related to the repurchase program to the Australian Securities Exchange (ASX). The company, which has delivered a 7.92% return year-to-date and maintains a healthy current ratio of 1.68, also includes updates on the repurchase activity in its quarterly and annual reports.

The information submitted to the ASX, which was attached as exhibits to the filing, contains forward-looking statements regarding News Corp’s intent to repurchase shares from time to time. The company noted that these statements are based on current management expectations and are subject to change due to various factors, including fluctuations in the company’s stock price, general market conditions, and applicable securities laws.

News Corp stated that it does not undertake any obligation to update forward-looking statements except as required by law or regulation.

This summary is based on a statement included in the company’s current report on Form 8-K filed with the Securities and Exchange Commission on Wednesday.

In other recent news, News Corp has provided updates on its ongoing $1 billion stock repurchase program. The company is authorized to buy back up to $1 billion of its Class A and Class B common shares. These updates are part of the company’s routine disclosures, which are required under the rules of the Australian Securities Exchange (ASX). News Corp regularly reports its repurchase activities in its quarterly and annual filings and provides daily transaction updates to the ASX. The company has reiterated that its intent to repurchase shares is subject to factors such as market price, general conditions, and applicable securities laws. While no new transactions or changes to the repurchase program were announced, the company emphasized that these forward-looking statements might change based on various factors. News Corp has filed this information with the U.S. Securities and Exchange Commission as part of a Form 8-K.

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