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News Corporation 8-K Report: $1 Billion Stock Buyback Program Unveiled

$NWS
Form 8-K
Filed on: 2022-10-28
Source
News Corporation 8-K Report: $1 Billion Stock Buyback Program Unveiled

Here are the key insights extracted from the provided financial report section for News Corporation:

  1. Filing Information:
  • Form: 8-K
  • Date of Report: October 27, 2022
  • Company: News Corporation
  • State of Incorporation: Delaware
  • Commission File Number: 001-35769
  • IRS Employer Identification Number: 46-2950970
  • Address: 1211 Avenue of the Americas, New York, NY 10036
  • Contact Number: (212) 416-3400
  1. Stock Repurchase Program:
  • News Corporation has a stock repurchase program authorized to acquire up to $1 billion in total of its outstanding shares, specifically Class A and Class B common stock.
  • The company is required to provide daily disclosures to the Australian Securities Exchange (ASX) regarding transactions under this repurchase program.
  • This repurchase program is reported in the company's quarterly and annual reports.
  1. Forward-Looking Statements:
  • The report includes forward-looking statements regarding the company’s intent to repurchase shares. These statements are based on current expectations and are subject to various risks and uncertainties, including market conditions and changes in the stock price.
  • Actual results may differ materially from these statements due to unforeseen circumstances.
  1. Exhibits:
  • The report includes references to two exhibits:
    • Exhibit 99.1: Information provided to ASX regarding Class A shares.
    • Exhibit 99.2: Information provided to ASX regarding Class B shares.
  1. Signature and Authorization:
  • The report was signed by Michael L. Bunder, Senior Vice President, Deputy General Counsel, and Corporate Secretary, on October 28, 2022.

These points summarize the critical details of the filing, focusing on corporate governance, stock management strategies, and compliance with regulatory requirements.