News Corp Announces Update on \$1 Billion Share Repurchase Program
Key Highlights:
- News Corporation (“the Company”) continues its \$1 billion stock repurchase program (“Repurchase Program”) for Class A and Class B common stock.
- The Company is authorized to repurchase shares in the open market or otherwise, subject to market conditions, stock price, and other factors.
- Goldman Sachs & Co. LLC is acting as the broker for the buy-back transactions.
- Recent daily buy-back notifications show significant repurchase volumes, including 3,880,596 shares bought back on March 29, 2026, at an average price of \$23.95 per share.
- No ASX-listed CHESS Depositary Interests (CDIs) will be repurchased in these programs; the buy-back applies only to Nasdaq-listed shares.
- The stated reason for the buy-back: “To enhance shareholder value.”
- No shareholder approval is required for this buy-back, and there are no other conditions or restrictions impacting the execution of the program.
Details of the Share Repurchase Program
News Corp’s ongoing repurchase program authorizes the Company to buy back up to \$1 billion of its outstanding Class A and Class B common stock. The buy-backs are being executed via open market purchases, with Goldman Sachs & Co. LLC serving as the designated broker.
On the most recent notification date, March 30, 2026, News Corp disclosed that on the previous day (March 29), it repurchased a total of 3,880,596 shares at an average price of \$23.95 per share, amounting to a substantial outlay. The repurchases are part of an ongoing effort to return capital to shareholders and are expected to continue, subject to market conditions, the trading price of the shares, and alternative investment opportunities.
The Company has clarified that these repurchases will not include ASX-listed CDIs and are limited to the Nasdaq-listed shares. As of the latest filing, the total number of Class A common stock outstanding in the relevant class is 141,420,202.
The buy-back is described as an “on-market buy-back” for cash consideration, and the price to be paid for shares is not pre-determined but will be based on prevailing market prices at the time of each transaction. The Company’s stated goal for the buy-back is to “enhance shareholder value,” a typical rationale for such programs, as reducing the number of shares outstanding can increase earnings per share and potentially support the stock price.
Implications for Shareholders and Potential Share Price Impact
This ongoing and substantial share repurchase program is a significant corporate action that may influence News Corp’s share price. By reducing the number of shares in circulation, the Company aims to improve key metrics such as earnings per share and return on equity, which are closely watched by investors. The regular and transparent reporting of daily repurchase activities also signals management’s confidence in the Company’s long-term value.
Shareholders should note that the repurchase program is subject to change and may be suspended or discontinued at any time depending on a range of factors, including changes in the Company’s stock price, general market conditions, applicable securities laws, and the evaluation of alternative investment opportunities. Forward-looking statements in the Company’s disclosures caution that actual results may differ materially from management’s current expectations.
No shareholder approval is required for this buy-back, and there are no additional conditions or restrictions. There are no indications in the filings of any related party transactions or special terms beyond standard open market purchases.
Forward-Looking Statements
The Company notes that statements regarding its intention to repurchase shares are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties, and the Company disclaims any obligation to update them, except as required by law.
Disclaimer: This article is provided for informational purposes only and does not constitute investment advice. Investors are encouraged to conduct their own analysis and consult with a financial advisor before making any investment decisions. The information herein is based on filings and disclosures made by News Corporation as of March 30, 2026, and is subject to change without notice.
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