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

$NWS
Form 8-K
Filed on: 2024-08-22
Source
News Corporation 8-K Report: $1 Billion Stock Repurchase Program Unveiled

Here are the key insights and information extracted from the provided section of the financial report pertaining to News Corporation:

General Information

  • Company Name: News Corporation
  • Report Type: Form 8-K
  • Date of Report: August 21, 2024
  • Location: Washington, D.C.
  • State of Incorporation: Delaware
  • Commission File Number: 001-35769
  • IRS Employer Identification No.: 46-2950970
  • Address of Principal Executive Offices: 1211 Avenue of the Americas, New York, New York 10036
  • Registrant's Telephone Number: (212) 416-3400

Stock Repurchase Program

  • Program Authorization: News Corporation is authorized to repurchase up to $1 billion in aggregate of its outstanding shares of Class A and Class B common stock.
  • Regulatory Compliance: The Company must provide daily disclosures of transactions under this Repurchase Program to the Australian Securities Exchange (ASX).
  • Reporting: The Company includes information regarding the Repurchase Program in its quarterly and annual reports.

Forward-Looking Statements

  • The report includes forward-looking statements regarding the Company's intent to repurchase shares, which are subject to uncertainties such as market price fluctuations and general market conditions.
  • The Company disclaims any obligation to update these forward-looking statements except as required by law.

Exhibits

  • Exhibit 99.1: Information provided to the ASX on the date noted.
  • Exhibit 99.2: Similar information for Class B common stock.
  • 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 August 22, 2024.

Summary

The report primarily details the stock repurchase program authorized by News Corporation and the related compliance requirements with the ASX, emphasizing the financial scope of $1 billion for share repurchases. It also outlines the nature of forward-looking statements and includes necessary corporate and contact information for the registrant.