News Corporation Announces Details on \$1 Billion Stock Repurchase Program

Key Highlights:

• News Corporation (News Corp) is authorized to repurchase up to US\$1 billion of its outstanding Class A and Class B common stock.
• This repurchase program was authorized as of July 15, 2025, and is referred to as the “2025 Repurchase Program.”
• Repurchases will be made from time to time in the open market or otherwise, subject to market conditions, the market price of News Corp’s stock, and other factors.
• Shares repurchased under this program are limited to Nasdaq-listed Class A and Class B common stock; ASX-listed CDIs are not included in this program.
• On March 16, 2026, News Corp provided a daily buy-back notification to the Australian Securities Exchange (ASX), in compliance with ASX rules.
• On the previous day (March 16, 2026), News Corp bought back 86,681 shares of Class B common stock; the cumulative total bought back is 3,087,131 shares.
• The highest price paid in the repurchase program was US\$31.40 per share, and the lowest price was US\$22.20 per share.
• The buy-back program is managed through the broker Goldman Sachs & Co. LLC.
• The stated reason for the buy-back is to enhance shareholder value.
• No security holder approval or other conditions are required for this buy-back.
• As of the reporting date, the aggregate number of Class B shares outstanding is 141,863,388, and for Class A shares, 366,937,658.

Details Investors Should Know

• Potential Share Price Impact: The announcement and ongoing execution of a significant share repurchase program can be price-sensitive and may positively influence share values. Such buy-backs often signal management confidence in the company’s prospects and may provide downside support to the stock price by reducing the float and increasing earnings per share.
• Program Flexibility and Forward-Looking Statements: Management notes that repurchases will be subject to market conditions, applicable securities laws, and alternative investment opportunities. No commitment is made to repurchase a specific number of shares, and the program may be suspended or discontinued at any time.
• Risk Factors: The company explicitly warns that actual repurchase activity may differ materially from stated intentions due to fluctuations in share price, market conditions, and other business risks.
• Transparency: News Corp is committed to disclosing daily repurchase activity on the ASX, as well as periodic updates in quarterly and annual reports.
• Exclusions: Investors holding ASX-listed CDIs should note these are not subject to repurchase under the current program.

Additional Context for Shareholders

• This is not a tender offer or a selective buy-back requiring shareholder approval; it is an on-market buy-back utilizing a reputable broker.
• The program is structured to provide ongoing flexibility, with the ability to react to market opportunities and conditions.
• Any forward-looking statements in the company’s disclosures are made as of the date of the report and may not be updated for future events, except as required by law.

Conclusion: News Corporation’s large-scale share repurchase program is a significant, price-sensitive event for shareholders. It demonstrates management’s intent to deploy capital to enhance shareholder value and provides structural support for the stock. Investors should monitor future company filings and market disclosures for further updates on the progress of this buy-back program.

Disclaimer: This article is for informational purposes only and should not be considered investment advice. Investors should conduct their own due diligence and consult with financial professionals before making investment decisions. The information herein is based on company filings and may be subject to change. News Corporation is not obligated to update forward-looking statements except as required by law.

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