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News Corporation Reports $1 Billion Stock Buyback in Form 8-K Release

$NWS
Form 8-K
Filed on: 2023-11-27
Source
News Corporation Reports $1 Billion Stock Buyback in Form 8-K Release

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

  1. Form Type and Date:
  • This is a Form 8-K, which is a current report filed by public companies to disclose major events that shareholders should know about.
  • The report was filed on November 24, 2023.
  1. Company Information:
  • Name: News Corporation
  • Incorporation: Delaware
  • Commission File Number: 001-35769
  • IRS Employer Identification Number: 46-2950970
  • Principal Executive Offices Address: 1211 Avenue of the Americas, New York, New York 10036
  • Contact Number: (212) 416-3400
  1. Stock Repurchase Program:
  • News Corporation has authorized a stock repurchase program allowing the company 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 related to this program to the Australian Securities Exchange (ASX).
  1. Forward-Looking Statements:
  • The report contains forward-looking statements regarding the company's intent to repurchase shares, which are subject to various uncertainties, including market conditions and changes in stock price.
  • Actual results may differ materially from these expectations, as described in the company's filings with the SEC.
  1. Exhibits:
  • The report includes two exhibits (99.1 and 99.2) which contain information provided to the ASX regarding the stock repurchase program on specific dates mentioned in the exhibits.
  1. Risk Factors:
  • The report notes that various factors could affect the company's ability to execute the repurchase program, including market conditions and available alternative investment opportunities.

This summary highlights the essential information regarding News Corporation's current report concerning its stock repurchase initiatives, potential risks, and relevant corporate details.