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

$NWS
Form 8-K
Filed on: 2023-12-15
Source
News Corporation 8-K Report: $1 Billion Stock Repurchase Program Unveiled

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

  1. Filing Type: The document is a Form 8-K, which is a current report used to disclose major events that shareholders should know about.
  2. Date of Report: The report is dated December 14, 2023.
  3. Company Overview:
  • Name: News Corporation
  • Incorporation: Delaware
  • Commission File Number: 001-35769
  • IRS Employer Identification No.: 46-2950970
  • Address: 1211 Avenue of the Americas, New York, New York 10036
  • Phone Number: (212) 416-3400
  1. Stock Repurchase Program:
  • The company has a stock repurchase program authorized to acquire up to $1 billion of its outstanding shares of Class A and Class B common stock.
  • The company is required to report daily transactions to the Australian Securities Exchange (ASX) and includes updates in quarterly and annual reports.
  • This repurchase initiative is subject to changes based on market conditions and other factors.
  1. Forward-Looking Statements:
  • The document includes forward-looking statements regarding the company's intent to repurchase shares, which are subject to risks and uncertainties. The actual results may differ due to factors such as stock price fluctuations and market conditions.
  1. Exhibits:
  • The report references two exhibits (99.1 and 99.2) that contain information provided to the ASX, including details on the stock repurchase program.
  • These exhibits are labeled as:
    • 99.1: Information provided to the ASX regarding Class A common stock transactions.
    • 99.2: Information provided to the ASX regarding Class B common stock transactions.
  1. Signature:
  • The report is signed by Michael L. Bunder, who is the Senior Vice President, Deputy General Counsel, and Corporate Secretary of News Corporation.

These insights highlight critical aspects of News Corporation's current financial status and corporate actions, particularly regarding their stock repurchase program and regulatory compliance.