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

Key Highlights

• News Corporation (NASDAQ: NWSA, NWS) continues execution of its substantial stock buyback program, with authorization to repurchase up to \$1 billion of its Class A and Class B common stock.
• Recent filings with the Australian Securities Exchange (ASX) and the U.S. Securities and Exchange Commission (SEC) confirm ongoing buyback activity, including detailed daily disclosures and program parameters.
• The buyback is being conducted in the open market, with Goldman Sachs & Co. LLC acting as the broker for repurchases.
• Purpose of Buyback: To enhance shareholder value, as stated in the filings.
• Maximum Aggregate Repurchase: Up to \$1 billion of both Class A and Class B common stock under the “2025 Repurchase Program.”
• Recent Buyback Activity: On May 1, 2026, News Corp repurchased 2,786,775 shares, with a total consideration of US\$26.215 per share. An additional 30,471 shares were also bought back on the same day.
• No Minimum Repurchase Commitment: The company is not obligated to repurchase a minimum number of shares, but has set a maximum buyback limit.
• No Shareholder Approval Required: The buyback does not require additional security holder approval and is not subject to further conditions.

Details Investors Should Know

News Corporation’s ongoing stock repurchase program is a significant capital allocation strategy that could potentially have a material impact on the company’s share price and valuation. The program, authorized up to \$1 billion, targets both Class A (NWSA) and Class B (NWS) shares listed on NASDAQ. The repurchases are executed in the open market, primarily through Goldman Sachs & Co. LLC as the designated broker.

According to the latest ASX filings, on May 1, 2026, the company bought back 2,786,775 shares at a price of US\$26.215 per share and an additional 30,471 shares on the same day. The cumulative repurchase is part of the previously announced 2025 Repurchase Program, which remains active and subject to market conditions and the company’s discretion.

The company emphasizes that this buyback is designed to enhance shareholder value, a signal that management believes the shares are undervalued or that returning capital to shareholders is optimal compared to alternative investments. Importantly, there is no minimum repurchase commitment, allowing the company flexibility in response to market conditions.

The company’s filings also include forward-looking statements regarding its intention to continue repurchasing shares, but caution that actual results may differ due to changes in stock price, market conditions, applicable securities laws, and other factors. No ASX-listed CDIs (Chess Depositary Interests) will be repurchased as part of this program.

Potential Share Price Impact

• Share Price Support: Ongoing repurchases generally provide support for the company’s share price by reducing the supply of outstanding shares and signaling management’s confidence in the company’s value.
• Flexibility and Discretion: As the program is not mandatory and subject to market conditions, investors should monitor future disclosures for potential changes in pace or scope of buybacks, which could impact share valuation.
• No Shareholder Approval or Additional Conditions: The company’s ability to execute the buyback without further approval provides operational certainty and may be viewed positively by the market.

Important Disclosures

• Forward-looking statements regarding the buyback program are subject to risks and uncertainties. Management does not undertake any obligation to update these statements except as required by law or regulation.
• Investors should review the company’s quarterly and annual reports for ongoing updates about the repurchase program and related financial impacts.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. All information is based on filings made by News Corporation and may be subject to change. Investors should perform their own due diligence and consult with financial advisors before making investment decisions.

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