News Corp Announces Progress on \$1 Billion Stock Buyback Program

Key Highlights for Investors:

• News Corporation (News Corp) is actively executing a substantial stock repurchase program (the “Repurchase Program”) with authorization to buy back up to \$1 billion in aggregate of its outstanding Class A and Class B common shares.
• The buyback covers shares listed on the Nasdaq, specifically Class A (trading symbol: NWSA) and Class B (trading symbol: NWS), and is being executed via on-market transactions. Goldman Sachs & Co. LLC is the broker for these purchases.
• As of the latest reporting period, News Corp has repurchased 5,054,122 shares of Class A Common Stock and 74,816 shares of Class B Common Stock at a price of US\$25.75 per share for Class A shares.
• The total consideration paid for these buybacks so far is US\$68,251,650.47 for Class A shares and US\$1,127,655.11 for Class B shares.
• The buyback program does not include any ASX-listed CDIs (CHESS Depositary Interests), and is focused solely on the Nasdaq-listed shares.
• The stated reason for the buyback is “to enhance shareholder value.”
• There are no minimum numbers of shares that must be repurchased, and the exact price to be paid for future buybacks is not fixed in advance. Purchases are subject to prevailing market prices.

Details and Potential Impact

News Corp’s ongoing share buyback program is a significant development for shareholders and the broader market. The company’s authorization to repurchase up to \$1 billion of its stock demonstrates strong confidence in its business outlook, balance sheet, and future prospects. Such buybacks are generally viewed favorably by the market, as they reduce the number of shares outstanding, potentially increasing earnings per share (EPS) and supporting the stock price.

The company’s disclosures to both the Securities and Exchange Commission (SEC) and the Australian Securities Exchange (ASX) confirm the compliance and transparency of the repurchase process. Forward-looking statements remind investors that the actual amount and timing of repurchases will depend on various factors, including market conditions, share price, alternative investment opportunities, and applicable securities laws.

Shareholder Considerations:

• This program could be price-sensitive as continued buybacks, especially of significant size, can reduce the float and support or even boost the share price.
• Investors should be aware that the company is not obligated to complete the full \$1 billion buyback, and actual repurchase amounts may vary depending on market conditions and management’s discretion.
• There are currently no additional shareholder approvals or conditions required for the buyback to proceed, nor are there any other material conditions or restrictions disclosed.
• The company has expressly stated that it does not intend to buy back a minimum number of shares, giving flexibility to adjust the pace and scale of repurchases in response to market dynamics.

Forward-Looking Statements: The company has included the standard caution that actual results may differ materially from its forward-looking statements, due to risks such as changes in share price, general market conditions, and other factors referenced in its SEC filings.

Conclusion

Bottom Line for Investors: News Corp’s active buyback program is a clear, shareholder-friendly capital allocation strategy. The company’s willingness to allocate significant capital toward buybacks signals management’s confidence in the intrinsic value of News Corp’s shares and its ongoing commitment to enhancing shareholder returns. Investors should monitor further buyback activity and related disclosures, as these may have a direct impact on share liquidity and pricing in the market.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell securities. Investors should perform their own due diligence and consult with their financial advisor before making investment decisions. The information provided is based on public filings as of the date stated and may be subject to change.

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