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

$NWS
Form 8-K
Filed on: 2023-09-05
Source
News Corporation 8-K Report: $1 Billion Stock Repurchase Program Unveiled

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

General Information

  • Company Name: News Corporation
  • Form: 8-K (Current Report)
  • Filing Date: September 1, 2023
  • State of Incorporation: Delaware
  • Commission File Number: 001-35769
  • IRS Employer Identification Number: 46-2950970
  • Address: 1211 Avenue of the Americas, New York, New York 10036
  • Telephone Number: (212) 416-3400

Item 8.01 - Other Events

  • Stock Repurchase Program: News Corporation has a repurchase program authorized to acquire up to $1 billion in total of its Class A and Class B common stock.
  • Disclosure Requirements: The company is mandated by the Australian Securities Exchange (ASX) to disclose transactions related to the repurchase program on a daily basis. Additionally, information regarding the program will also be included in quarterly and annual reports.

Forward-Looking Statements

  • The report includes forward-looking statements regarding the Company's intent to repurchase its shares.
  • These statements are based on management's expectations and are subject to various uncertainties, including changes in stock prices and market conditions.

Financial Statements and Exhibits

  • Exhibits:
  • Exhibit 99.1: Information provided to the ASX on a specific date.
  • Exhibit 99.2: Additional information provided to the ASX on another date.
  • Exhibit 104: Cover Page Interactive Data File embedded within the Inline XBRL document.

Signatures

  • The report is signed by Michael L. Bunder, Senior Vice President, Deputy General Counsel, and Corporate Secretary, dated September 5, 2023.

Summary

This report primarily outlines News Corporation’s stock repurchase program, detailing the amount authorized for repurchase, the compliance with ASX regulations for disclosure, and includes forward-looking statements related to these repurchases. The report adheres to SEC regulations and includes necessary signatures and exhibits.