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News Corp (NASDAQ:NWSA) (NASDAQ:NWSA, NASDAQ:NWS), the $17.7 billion media conglomerate, provided an update on its ongoing stock repurchase program as disclosed in a filing with the Securities and Exchange Commission. The company remains authorized to acquire up to $1 billion in aggregate of its outstanding Class A and Class B common shares. According to InvestingPro data, News Corp maintains a healthy financial position with a solid current ratio of 1.68 and moderate debt levels.
According to the filing, News Corp is required under Australian Securities Exchange rules to provide daily disclosure of any transactions under this repurchase program. The company also includes updates on the program in its quarterly and annual reports. The stock has shown strong momentum this year, with an 8.39% year-to-date return. InvestingPro subscribers can access detailed financial health metrics and 12 additional ProTips about News Corp’s market position and growth potential.
The filing noted that attached exhibits contained information provided to the Australian Securities Exchange regarding the repurchase activity. News Corp reiterated that statements about its intent to repurchase shares are forward-looking and subject to market conditions, securities laws, and other factors.
This information is based on a press release statement included in the SEC filing made Monday.
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. As part of this program, News Corp discloses daily transactions to the Australian Securities Exchange (ASX) and includes updates in its quarterly and annual reports. The company has reiterated that its repurchase intentions are forward-looking and may change due to factors like market conditions and stock price fluctuations. News Corp has stated that it is not obligated to update these forward-looking statements unless required by law. The information was disclosed in a press release statement included in a Form 8-K filing with the Securities and Exchange Commission. No new transactions or changes to the repurchase program have been announced recently.
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