News Corporation Announces Ongoing \$1 Billion Stock Repurchase Program

Key Highlights from the June 2, 2026 SEC 8-K Filing

• Repurchase Authorization: News Corporation (“the Company”) is authorized to acquire up to \$1 billion in aggregate of its outstanding Class A and Class B common stock under its 2025 Repurchase Program.
• Disclosure Obligations: Under rules of the Australian Securities Exchange (ASX), News Corp provides daily disclosures to the ASX for transactions under the buy-back program. The company also includes these details in quarterly and annual reports.
• Forward-Looking Statements: The company notes that its intent to repurchase shares is subject to market conditions, stock price fluctuations, securities laws, and alternative investment opportunities.
• Buy-Back Purpose: The stated reason for the buy-back is “to enhance shareholder value,” a commonly price-sensitive justification that suggests management believes shares are undervalued or the capital structure can be improved.
• Class A and Class B Details:
  • Class A Common Stock (ASX Code: NWSAA):
    • Total number of securities on issue: 362,765,433
    • Maximum number to be bought back: Up to \$1 billion worth (aggregate across Class A and B shares)
  • Class B Common Stock (ASX Code: NWSAB):
    • Total number of securities on issue: 140,744,594
    • Maximum number to be bought back: Up to \$1 billion worth (aggregate across Class A and B shares)
• Buy-Back Method: The buy-back is being conducted as an “on-market” buy-back, meaning shares are purchased directly in the market.
• Cash Consideration: All buy-backs are for cash consideration.
• No Shareholder Approval Needed: The buy-back does not require security holder approval or any other additional conditions before it becomes unconditional.
• Daily Notification: On June 2, 2026, the company bought back shares, and the prior day’s activity is disclosed as required. The company is actively buying shares on an ongoing basis.
• Price Details:
  • Highest price paid on previous day: US\$923,746.65 (aggregate consideration).
  • Lowest price paid during the buy-back period: US\$29.94 per share (on February 13, 2026).
  • Total consideration paid to date for buy-back: US\$98,403,814.72
  • Number of shares bought back on previous day: 3,465,807
  • Remaining number of shares authorized for buy-back: The company is authorized to acquire up to the aggregate \$1 billion limit, adjusted for amounts already spent.
• Potential Market Impact:
  • The ongoing buy-back program can directly impact the share price by reducing supply and signaling management’s confidence in the company’s value.
  • The scale of the buy-back (\$1 billion) is significant relative to the market capitalization of News Corp, and ongoing daily purchases may support the share price.
  • The buy-back is also an indication of excess capital and potential undervaluation, which is generally regarded as positive by investors.
  • Forward-looking statements caution that actual repurchase activity may vary depending on market conditions.

Additional Information for Shareholders

• Price Sensitivity: The buy-back announcement and ongoing activity are highly price-sensitive and may affect the value of News Corp shares. Investors should monitor daily buy-back disclosures for the scale and pace of repurchases.
• No Minimum Holding Buy-Back: There is no minimum holding buy-back as part of this program.
• Enhancing Value: Management’s statement that the buy-back is to “enhance shareholder value” is a clear signal that the board believes current prices are attractive for repurchase.
• Legal Disclaimer: All forward-looking statements are subject to uncertainty, including changes in market price, legal restrictions, and alternative investment opportunities. There is no guarantee the buy-back will continue at the same pace or reach the maximum authorized value.

Conclusion

The ongoing \$1 billion buy-back by News Corporation is a substantial corporate action with the potential to influence share prices, reduce outstanding shares, and provide support for the stock in the market. Shareholders should be aware of the daily buy-back notifications, understand the company’s rationale, and recognize that buy-backs are typically viewed as positive signals when management acts to return capital to investors or signal confidence in the company’s value.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. All forward-looking statements are subject to risks and uncertainties. Actual buy-back activity may vary depending on market conditions and other factors. Investors should review official filings and consult with financial advisors before making investment decisions.

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