News Corporation Announces Updates on \$1 Billion Share Repurchase Program
Key Highlights
- News Corporation maintains a significant share repurchase program, authorized up to \$1 billion for Class A and Class B common stock.
- Repurchases are executed both in the open market and possibly by other means, with Goldman Sachs & Co. LLC acting as the broker.
- Buy-backs are aimed at enhancing shareholder value and are subject to market conditions, share price, and other relevant factors.
- Daily disclosures to the Australian Securities Exchange (ASX) are required and ongoing.
- No ASX-listed CDIs (Chess Depository Interests) will be repurchased under these programs.
- Shareholders are cautioned about forward-looking statements and potential market sensitivities.
In-Depth Details for Investors
News Corporation (News Corp) recently filed a Form 8-K with the U.S. Securities and Exchange Commission, providing an update on its previously authorized stock repurchase program. Under the current authorization, News Corp may acquire up to an aggregate of \$1 billion of its outstanding shares of Class A and Class B common stock. This repurchase program was authorized as of July 15, 2025 and remains in effect, subject to prevailing market conditions and the market price of the company’s stock.
Purpose and Rationale
The stated reason for the buy-back is to enhance shareholder value. This is a common capital management strategy that can signal management’s confidence in the company’s prospects, reduce the number of shares in circulation (potentially increasing earnings per share), and support the share price in the market.
Execution of the Buy-Back
- The repurchase program allows for purchases both in the open market and by other means, but no ASX-listed CDIs will be repurchased under the program.
- Goldman Sachs & Co. LLC has been appointed as the broker to execute these buy-backs on behalf of the company.
- The buy-back does not require security holder approval and is conducted in compliance with relevant regulations.
- The maximum number of shares to be bought back is determined by the \$1 billion cap, with the latest notifications disclosing the remaining number of shares to be repurchased at the end of each relevant period.
Recent Buy-Back Activity and Share Price Details
- Recent daily buy-back notifications to the ASX show continued activity. For example, on June 8, 2026, shares were repurchased, with the previous buy-back occurring on June 5, 2026.
- The highest price paid for shares during the program was US\$30.39 and the lowest price was US\$25.49 (lowest price paid as of February 13, 2026).
- The most recent notifications show ongoing purchases with significant remaining authorization under the program, indicating that further buy-backs are anticipated.
Potential Impact and Shareholder Considerations
- The buy-back program is a price-sensitive event. Such programs typically provide support to the company’s share price, reduce share float, and can be interpreted as a sign of management’s confidence in the business.
- Actual share repurchase activity is subject to change based on market conditions, share price, and alternative investment opportunities.
- Shareholders should note that the company makes forward-looking statements regarding its intentions and these are subject to risks and uncertainties, including changes in market conditions and applicable laws.
- News Corp is required under ASX rules to provide daily disclosure of repurchases, ensuring transparency for investors.
Key Figures
- Total Class B common stock outstanding (as of latest notification): 142,775,567 shares.
- Total Class A common stock outstanding (as of latest notification): 362,505,701 shares.
- Total amount authorized for buy-back: US\$1 billion (aggregate across both classes).
Information Provided to ASX
The company attaches its daily buy-back notifications (Appendix 3C) for transparency. These notifications list the number of shares bought back, the prices paid, and the remaining number of shares that may be purchased under the program.
Conclusion
This ongoing share buy-back program is a key event for News Corp shareholders to monitor. It has the potential to positively affect share value and reflects management’s confidence in the business. Investors should remain attentive to further disclosures, share price movements, and any changes in authorization or execution strategy.
Disclaimer: This article is for informational purposes only and is not intended as investment advice. Shareholders and investors should consult their financial advisor and refer to original filings and company announcements for the most accurate and up-to-date information. News Corp’s buy-back program and related disclosures involve forward-looking statements subject to risks and uncertainties. Actual results may differ materially.
