News Corporation Announces Continued Share Buy-Back Program, Up to \$1 Billion Authorized

NEW YORK, March 5, 2026 — News Corporation (“News Corp” or the “Company”) has filed a Form 8-K with the U.S. Securities and Exchange Commission, providing a significant update on its ongoing share buy-back program. The company has reaffirmed that it is authorized to repurchase up to \$1 billion in aggregate of its outstanding Class A and Class B common stock as part of its 2025 Repurchase Program.

Key Points for Investors

• Buy-Back Program Details: News Corp’s board has authorized the repurchase of up to \$1 billion in Class A and Class B shares. The program is ongoing, and purchases may occur from time to time, depending on market conditions and other factors.
• Class A and Class B Shares: As of the latest filing, there are 367,798,623 Class A shares (ASX code: NWSAA) and 141,461,806 Class B shares (ASX code: NWSAB) outstanding. Both classes are eligible for buy-back under the program.
• Buy-Back Mechanism: The buy-back will be conducted via on-market purchases, with Goldman Sachs & Co. LLC acting as the broker for buy-backs executed on behalf of News Corp.
• Recent Activity: The Company disclosed that on March 5, 2026, it repurchased shares, paying a total consideration of US\$32,269,990.88 before that day and US\$1,169,249.12 on the previous day. The lowest price paid during the current buy-back period was US\$25.49 (on February 13, 2026), and the highest price was US\$26.83.
• Shareholder Value Enhancement: The stated purpose of the buy-back is “to enhance shareholder value,” a move that could support the share price by reducing the total shares outstanding and signaling management’s confidence in the company’s valuation.
• No Shareholder Approval Required: The buy-back does not require specific shareholder approval, streamlining the process and enabling the Company to act swiftly in the market.
• Price Sensitivity: The size and execution of the buy-back program are material and may influence News Corp’s share price, as significant repurchases can boost earnings per share and are often seen as a sign of financial strength and management’s bullish outlook.
• Forward-Looking Statements: The company cautions that statements about future buy-back activity are forward-looking and subject to a variety of factors, including market price of the stock, general market conditions, applicable securities laws, and alternative investment opportunities. Actual repurchase activity may differ from management’s expectations.
• Regulatory Disclosures: News Corp is required to make daily disclosures to the Australian Securities Exchange (ASX) regarding buy-back transactions, in addition to reporting in quarterly and annual filings.

What Should Shareholders Know?

• Potential for Share Price Movement: The ongoing buy-back program, especially at the scale of up to \$1 billion, represents a significant capital allocation by the Company and could have a positive effect on share price performance over the medium term.
• Impact on Ownership Structure: As shares are bought back and cancelled, existing shareholders’ proportional ownership in the company increases, potentially enhancing long-term value.
• Market Timing and Execution: The Company has not specified a fixed schedule for buy-backs, indicating flexibility to capitalize on favorable market conditions.
• Ongoing Transparency: Investors can expect regular updates and transparency in line with ASX and SEC requirements, allowing for ongoing monitoring of the program’s progress.

Conclusion

News Corp’s reaffirmation and execution of its substantial share buy-back program is a clear signal of management’s confidence in the company’s financial position and future prospects. The scale of the buy-back, combined with ongoing market purchases, is likely to be price-sensitive and may positively impact share value. Shareholders and potential investors are encouraged to monitor further disclosures for updates on the pace and scale of repurchases.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should review all official filings, consider their personal circumstances, and consult with their financial advisors before making any investment decisions. News Corp’s forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those projected.

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