News Corporation Announces Update on Stock Buyback Program
Key Highlights for Investors:
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Continuation of \$1 Billion Share Repurchase Program: News Corporation (“the Company”) is proceeding with its previously announced stock repurchase program, granting authorization to acquire up to \$1 billion in aggregate of its outstanding Class A common stock and Class B common stock.
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Repurchases on the Open Market: The company will undertake buybacks from time to time in the open market or otherwise, subject to market conditions, the Company’s stock price, and other factors.
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Broker Appointed: Goldman Sachs & Co. LLC has been appointed to act on behalf of News Corporation to carry out these buy-back transactions.
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Class and Volume of Securities: The program applies to both NASDAQ-listed Class A (NWSA) and Class B (NWS) common shares. As of the latest notification, there were approximately 141,640,129 Class A shares and 366,490,917 Class B shares outstanding.
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Recent Repurchase Activity: On March 23, 2026, a notification was filed confirming the buyback of 1,661,420 Class A shares and 46,651 Class B shares at an average price of US\$23.78 per share, representing a significant capital allocation towards returning value to shareholders.
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Purpose of Buyback: The stated reason for the buyback program is “to enhance shareholder value,” a move often interpreted as a signal of management’s confidence in the company’s prospects and a belief that the shares are undervalued at current market prices.
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No Security Holder Approval Required: The buyback does not require shareholder approval, nor are there any other conditions that need to be satisfied before the buy-back becomes unconditional.
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Forward-Looking Statements and Risks: The company cautions that forward-looking statements, including the intent to repurchase shares, are subject to risks and uncertainties, including market conditions, stock price fluctuations, applicable securities laws, and alternative investment opportunities.
Important Information for Shareholders:
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This buyback program is price sensitive and may impact News Corp’s share price. Large share repurchase programs can reduce the number of shares outstanding, potentially increasing earnings per share (EPS) and supporting the stock price.
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Repurchases are discretionary: The Company may choose to suspend or terminate repurchases at any time depending on market or company-specific developments.
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Daily Disclosures: In accordance with Australian Securities Exchange (ASX) rules, News Corporation provides daily updates to the ASX about buyback transactions, and also discloses buyback activity in its quarterly and annual filings.
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No ASX-listed CDIs will be repurchased in these programs. The buybacks are specific to the company’s NASDAQ-listed shares.
Potential Impact on Share Price:
The \$1 billion buyback program reflects management’s confidence and provides a direct return of capital to shareholders, which can be interpreted positively by the market. Share repurchases typically reduce the float, can increase EPS, and may support or enhance the stock price. However, the actual impact will depend on the scale and timing of repurchases, broader market conditions, and the company’s ongoing performance.
Forward-Looking Statements Disclaimer
This article contains forward-looking statements regarding News Corporation’s share repurchase intentions. These statements are subject to various risks and uncertainties, including but not limited to market conditions, the price of the company’s stock, applicable securities laws, and other factors as detailed in News Corporation’s filings with the Securities and Exchange Commission. Actual results may differ from those expressed or implied. The company and the author do not undertake any obligation to update these statements except as required by law.
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