News Corporation Announces Progress on \$1 Billion Share Buy-Back Program

Key Highlights for Investors

• News Corporation is actively executing a significant share repurchase program, authorizing the buy-back of up to \$1 billion of Class A and Class B common stock.
• On April 15, 2026, News Corporation filed an 8-K report, providing detailed updates on the buy-back activity and related disclosures required by both the SEC and the Australian Securities Exchange (ASX).
• The program covers both US-listed shares (NASDAQ: NWSA for Class A, NASDAQ: NWS for Class B) and ASX-listed securities (NWSAA and NWSAB, respectively).

Details of the Share Buy-Back Program

News Corporation’s board previously authorized the company to repurchase up to \$1 billion in aggregate of its outstanding shares of Class A common stock and Class B common stock. This buy-back program is ongoing, and the company provides daily and periodic updates to the ASX as required by local regulations, as well as disclosures in its quarterly and annual reports.

• Maximum Buy-Back Authorization: The company may purchase up to an aggregate of US\$1 billion of Class A and Class B shares under the current repurchase program.
• Class A Common Stock (ASX Code: NWSAA):
  • Total shares outstanding in class: 365,298,071
  • No minimum number of shares is required to be bought back, but the company has indicated a maximum as above.
  • Buy-back is for cash consideration and is intended to enhance shareholder value.
• Class B Common Stock (ASX Code: NWSAB):
  • Total shares outstanding in class: 141,506,986
  • Similar terms and intent as Class A shares.

Recent Buy-Back Activity and Financial Details

• On April 15, 2026:
  • Class A shares: 2,391,179 shares were bought back.
  • Total consideration paid for these shares: US\$65,998,567.27
  • Total consideration for Class B shares: US\$1,119,831.59
  • The lowest price paid for Class A shares in recent buy-backs was US\$28.99 (on February 13, 2026).
• The buy-back is conducted on-market and does not require additional shareholder approval at this stage.
• The stated aim of the buy-back is to “enhance shareholder value,” signaling the board’s confidence in the company’s prospects and belief that the shares are undervalued at current prices.
• All buy-backs are for cash, and the price to be paid for future purchases is not fixed but will depend on market prices at the time of repurchase.

Forward-Looking Statements and Risks

The company has included forward-looking statements regarding the intention to continue repurchasing shares from time to time. These statements are subject to risks, including:

• Changes in market price of News Corporation stock
• General market conditions
• Applicable securities laws and regulations
• Alternative investment opportunities
• Other risks described in the company’s filings with the SEC

News Corporation expressly disclaims any obligation to publicly update forward-looking statements except as required by law or regulation.

What Shareholders Need to Know (Price Sensitive)

• The ongoing buy-back program is a significant capital allocation decision that can directly impact the share price.
• Share purchases reduce the number of outstanding shares, potentially increasing earnings per share (EPS) and supporting the share price.
• The company’s willingness to allocate up to \$1 billion to buy back stock may signal management’s view that the shares are undervalued.
• The pace and price of buy-backs can influence trading dynamics, especially for active investors and institutional shareholders.
• All investors should be aware that actual buy-back activity may fluctuate depending on market conditions and that the company is not obligated to buy the full authorized amount.

Conclusion

News Corporation’s active share repurchase program, with up to \$1 billion authorized for buy-backs, is a material event that could impact the company’s share price and is a clear signal of confidence by the board and management. Shareholders and prospective investors should closely monitor ongoing buy-back disclosures and stay attuned to further updates, as these actions could influence the company’s valuation and market dynamics in the coming quarters.

Disclaimer: This article is a summary of News Corporation’s official filings and disclosures as of April 15, 2026. It contains forward-looking statements subject to risks and uncertainties. Investors should review the company’s official filings and consult professional financial advisors before making investment decisions. This article does not constitute investment advice.

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