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News Corporation 8-K Report: $1 Billion Stock Repurchase Program Announced

$NWS
Form 8-K
Filed on: 2024-05-15
Source
News Corporation 8-K Report: $1 Billion Stock Repurchase Program Announced

Here's a summary of the key information extracted from the provided financial report section:

General Information

  • Company Name: News Corporation
  • Filing Type: Form 8-K (Current Report)
  • Filing Date: May 14, 2024
  • State of Incorporation: Delaware
  • Commission File Number: 001-35769
  • IRS Employer Identification No.: 46-2950970
  • Principal Executive Office Address: 1211 Avenue of the Americas, New York, New York 10036
  • Telephone Number: (212) 416-3400

Stock Repurchase Program

  • Authorization: The Company is authorized to repurchase up to $1 billion of its outstanding shares of Class A and Class B common stock.
  • Disclosure Requirements: As per the Australian Securities Exchange (ASX), the Company must provide daily disclosures of transactions made under this Repurchase Program.
  • Reporting: Information regarding the Repurchase Program is included in the Company’s quarterly and annual reports.

Forward-Looking Statements

  • The report contains forward-looking statements about the Company's intent to repurchase shares, which are subject to uncertainties that could lead to actual results differing materially from those expressed.
  • Factors affecting these outcomes include changes in stock price, market conditions, and applicable securities laws.

Exhibits Attached

  • Exhibit 99.1: Information provided to ASX on the date noted, regarding Class A common stock repurchases.
  • Exhibit 99.2: Information provided to ASX on the date noted, regarding Class B common stock repurchases.
  • Exhibit 104: Cover Page Interactive Data File embedded in the Inline XBRL document.

Signatory Information

  • Signatory: Michael L. Bunder
  • Title: Senior Vice President, Deputy General Counsel, and Corporate Secretary
  • Date Signed: May 15, 2024

This section primarily outlines the company's stock repurchase program, its reporting obligations, and includes forward-looking statements regarding the program's execution. The document is a typical regulatory filing that ensures transparency and compliance with SEC and ASX regulations.