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

$NWS
Form 8-K
Filed on: 2022-02-18
Source
News Corporation 8-K Report: $1 Billion Stock Repurchase Program Revealed

Here are the key points extracted from the provided financial report section:

  1. Filing Information:
  • Form Type: 8-K (Current Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934)
  • Date of Report: February 17, 2022
  • Registrant: News Corporation
  • State of Incorporation: Delaware
  • Commission File Number: 001-35769
  • IRS Employer Identification Number: 46-2950970
  • Principal Executive Office Address: 1211 Avenue of the Americas, New York, NY 10036
  1. Stock Repurchase Program:
  • The company has a stock repurchase program authorized to acquire up to $1 billion in the aggregate of its outstanding shares of Class A and Class B common stock.
  • Compliance with the Australian Securities Exchange (ASX) requires daily disclosures of transactions under this repurchase program.
  1. Forward-Looking Statements:
  • The report contains forward-looking statements regarding the intent to repurchase shares, subject to uncertainties and market conditions.
  • Actual results may differ due to changes in stock prices, market conditions, and other risks outlined in the company's SEC filings.
  1. Exhibits:
  • Two exhibits are attached:
    • Exhibit 99.1: Information provided to the ASX (Class A shares).
    • Exhibit 99.2: Information provided to the ASX (Class B shares).
  1. Emerging Growth Company Status:
  • The report inquires if the registrant is an emerging growth company as defined by specific SEC regulations, but does not indicate if they are.
  1. Signatory:
  • The report is signed by Michael L. Bunder, Senior Vice President, Deputy General Counsel, and Corporate Secretary.
  • Date of signature: February 18, 2022.

This section outlines important corporate actions and regulatory compliance related to stock repurchases, while also highlighting future risks that could impact the company's financial decisions.