News Corporation Announces Ongoing \$1 Billion Stock Buyback Program: Key Details for Investors
Key Highlights:
- News Corporation (“the Company”) is continuing its substantial stock buyback program, authorizing up to \$1 billion in repurchases of its Class A and Class B common stock.
- Buybacks are executed under the “2025 Repurchase Program,” which is effective until July 15, 2025.
- Goldman Sachs & Co. LLC has been appointed as the broker to conduct the buy-backs on behalf of the Company.
- The repurchases are conducted primarily on the open market, subject to market conditions and the stock price.
- On March 6, 2026, News Corporation reported the latest buyback details to the Australian Securities Exchange (ASX), as required for its ASX listing.
Details of the Buyback Program
News Corporation’s ongoing share buyback program authorizes the Company to repurchase up to \$1 billion in aggregate of both Class A and Class B common shares. As of the date of the report, the buyback is not limited to a minimum number of shares, providing flexibility for the Company to respond to market conditions. The repurchase program is executed through open-market transactions, with Goldman Sachs & Co. LLC acting as the designated broker.
The buyback program is designed with the explicit aim to “enhance shareholder value.” This initiative signals management’s confidence in the Company’s future prospects and reflects a commitment to capital returns for shareholders.
On the most recent notification date (March 9, 2026), News Corporation disclosed to the ASX that:
- The total number of Class A common shares outstanding was 142,083,315.
- No minimum number of shares must be repurchased, but the maximum is capped at \$1 billion in value for both Class A and Class B combined.
- The previous daily buy-back on record involved the repurchase of 1,218,234 Class A shares and 43,319 Class B shares, at an average price of \$23.89 per share for Class A shares.
Potential Impact for Shareholders & Share Price
Why is this significant? Stock buybacks decrease the number of shares outstanding, which can increase earnings per share and may support or boost the share price. When a company commits substantial capital to repurchase its own shares, it often signals management’s belief that the shares are undervalued and that the business has strong cash flow. This program, therefore, is likely to be viewed positively by investors and could be a catalyst for share price appreciation, especially if the buybacks are executed during periods of share price weakness.
The Company has stated that no ASX-listed Chess Depositary Interests (CDIs) will be repurchased as part of these programs—only the Nasdaq-listed shares are included in the buyback. The Company also notes that the buybacks are subject to market conditions, applicable securities laws, the share price, and other factors including alternative investment opportunities.
This disclosure includes forward-looking statements subject to risks and uncertainties, and the Company does not undertake an obligation to update these statements unless required by law.
Other Important Details
- No shareholder approval is required for this buyback, offering a streamlined process.
- There are no other conditions that need to be satisfied before the buyback becomes unconditional.
- All buybacks are for cash consideration, but the specific price paid for shares is not fixed and depends on market conditions.
- Regular disclosures to the ASX will continue, providing transparency for shareholders on the progress and details of the buyback program.
Potential Risks
Investors should be aware that the actual number of shares repurchased and the timing of buybacks depend on a variety of factors, including share price volatility, market liquidity, overall market conditions, and other strategic investment alternatives available to the Company. There is no guarantee that the full \$1 billion authorization will be utilized.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with their financial advisor before making any investment decisions. News Corporation’s stock price may be affected by a variety of factors, and past performance is not indicative of future results.
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