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

$NWS
Form 8-K
Filed on: 2023-07-06
Source
News Corporation 8-K Report: $1 Billion Stock Repurchase Program Unveiled

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

  1. Company Information:
  • Name: News Corporation
  • Incorporation: Delaware
  • SEC File Number: 001-35769
  • IRS Employer Identification Number: 46-2950970
  • Address: 1211 Avenue of the Americas, New York, New York 10036
  • Telephone: (212) 416-3400
  1. Report Type:
  • Form: 8-K (Current Report)
  • Date of Report: July 5, 2023
  • Filing Purpose: The report is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
  1. Stock Repurchase Program:
  • The Company has a stock repurchase program authorizing the acquisition of up to $1 billion of its outstanding shares, which includes both Class A and Class B common stock.
  • The Company is required to provide daily disclosures to the Australian Securities Exchange (ASX) regarding transactions made under this Repurchase Program and will also include relevant information in its quarterly and annual reports.
  1. Forward-Looking Statements:
  • The report contains forward-looking statements regarding the intent to repurchase shares, which are subject to various uncertainties and market risks, including fluctuations in stock prices and general market conditions.
  1. Exhibits:
  • Two exhibits are attached:
    • Exhibit 99.1: Information provided to the ASX regarding the stock repurchase program.
    • Exhibit 99.2: Additional information provided to the ASX.
  1. Signature:
  • The report is signed by Michael L. Bunder, Senior Vice President, Deputy General Counsel, and Corporate Secretary, dated July 6, 2023.

These points summarize the essential details and corporate actions indicated in the form 8-K filing of News Corporation, emphasizing its stock repurchase program and compliance with regulatory requirements.