News Corp updates on stock repurchase program and ASX disclosures

News Corp (NASDAQ:NWSA, NASDAQ:NWS), currently trading at $30.45 with a market capitalization of $17.7 billion, reported Thursday that it continues to operate under its previously authorized stock repurchase programs, which allow the company to acquire up to $1 billion in aggregate of its outstanding Class A and Class B common stock. According to InvestingPro analysis, the company maintains a strong financial health score and appears fairly valued based on current metrics. The company is required to provide daily disclosure of any transactions under these repurchase programs to the Australian Securities Exchange (ASX) and also reports related information in its quarterly and annual filings. With $727 million in free cash flow and a healthy current ratio of 1.84, News Corp demonstrates solid financial flexibility to execute its buyback program while maintaining a conservative debt-to-equity ratio of 0.34.

The company attached copies of recent information provided to the ASX as exhibits to its latest filing. These disclosures include forward-looking statements regarding News Corp’s intent to repurchase shares from time to time. The company noted that actual results may differ due to various factors, including changes in market price, general market conditions, applicable securities laws, and other considerations.

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

This information is based on a statement in a press release attached to a filing with the U.S. Securities and Exchange Commission.

In other recent news, News Corp has confirmed its ongoing authorization to repurchase up to $1 billion of its Class A and Class B common shares. The company has been consistently updating the Australian Securities Exchange (ASX) with daily disclosures about these stock repurchase transactions, as required by ASX rules. This information is also included in News Corp’s quarterly and annual filings. No changes have been reported regarding the authorization amount or the terms of the repurchase program. The company continues to provide comprehensive updates on its repurchase activities in filings with the U.S. Securities and Exchange Commission as well. The latest disclosures include forward-looking statements about News Corp’s intention to repurchase shares, although actual outcomes may vary due to market conditions and other factors. These developments are part of News Corp’s ongoing efforts to manage its capital structure effectively.

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