News Corporation Announces Progress on \$1 Billion Stock Repurchase Program
Key Points for Investors:
- Stock Repurchase Program Continues: News Corporation (“the Company”) is actively executing its previously announced stock repurchase program, authorizing the buy-back of up to \$1 billion of its outstanding Class A and Class B common stock.
- Recent Buy-Back Activity: On April 13, 2026, the Company disclosed to the Australian Securities Exchange (ASX) that it had bought back a total of 4,650,723 Class A shares and 86,681 Class B shares on the previous day, at a price of US\$24.43 per share.
- Broker: Goldman Sachs & Co. LLC has been appointed as the broker to conduct these buy-back transactions on News Corp’s behalf.
- Buy-Back Rationale: The Company states the share repurchase program is intended “to enhance shareholder value.”
- Buy-Back Details:
- Class A Common Stock (ASX Code: NWSAA): The total number of Class A shares on issue is reported as 365,298,071.
- Class B Common Stock (ASX Code: NWSAB): The total number of Class B shares on issue is 141,506,986.
- No ASX-listed CDIs will be repurchased as part of this program. The buy-back only focuses on Nasdaq-listed shares.
- Maximum Repurchase Limit: The Company may purchase up to an aggregate of US\$1 billion of Class A and Class B common stock under the “2025 Repurchase Program” (approved as of July 15, 2025).
- Conditionality: The buy-back does not require shareholder approval, and there are no other conditions that need to be satisfied before the buy-back offer becomes unconditional.
- Disclosure Practices: News Corp is required under ASX rules to provide daily updates regarding buy-back activity, and similar information is disclosed in quarterly and annual reports.
- Forward-Looking Statements: The company notes that statements regarding the intent to repurchase shares are forward-looking and subject to risks, including fluctuations in market price, market conditions, and other relevant factors.
What Shareholders Need to Know (Potential Price-Sensitive Information):
- Significant Buy-Back Activity: The large volume of shares repurchased to date (over 4.7 million shares in a single day) and the ongoing commitment to the \$1 billion program signal management’s confidence in the company’s long-term value. Share buy-backs typically reduce the number of shares outstanding, which can increase earnings per share (EPS) and support the stock price.
- Use of Cash Resources: The buy-back program represents significant use of corporate cash, which may be viewed positively by investors if the stock is undervalued, but could be scrutinized if other investment opportunities are foregone.
- Share Price Impact: The repurchase of shares at market price (US\$24.43 per share on the latest reported day) indicates that management believes the current price is attractive. This may provide price support in the market and could be viewed as a signal of undervaluation.
- Ongoing Disclosure: Shareholders should expect continued daily disclosures regarding buy-back activity. Any change to the pace or size of buy-backs, or to the program itself, could influence market perception and the share price.
- Forward-Looking Caution: The company explicitly warns that actual buy-back results may differ materially from intentions due to market conditions, price changes, legal requirements, or alternative uses of capital. Investors should monitor for updates.
Disclaimer:
This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should conduct their own due diligence and consider consulting with a qualified financial advisor before making investment decisions. News Corp’s share repurchase program and related announcements contain forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those anticipated in these statements.
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