News Corporation's $1 Billion Stock Repurchase Plan: July 2023 8-K Report Highlights

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

General Information

Company Name: News Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: July 27, 2023
State of Incorporation: Delaware
Commission File Number: 001-35769
IRS Employer Identification Number: 46-2950970
Principal Executive Office Address: 1211 Avenue of the Americas, New York, NY 10036
Registrant's Telephone Number: (212) 416-3400

Stock Repurchase Program

Authorized Amount for Repurchase: Up to $1 billion in aggregate for outstanding shares of Class A and Class B common stock.
Disclosure Requirement: The company is required to provide daily disclosure of transactions related to the repurchase program to the Australian Securities Exchange (ASX).
Reporting in Filings: Information regarding the repurchase program is disclosed in quarterly and annual reports.

Forward-Looking Statements

The report includes forward-looking statements concerning the company's intent to repurchase its Class A and Class B common stock.
These statements are based on current management expectations and beliefs and are subject to various uncertainties.
Actual results may differ due to factors like stock price changes, market conditions, and applicable securities laws.

Exhibits

The filing includes two exhibits related to the information provided to the ASX:
Exhibit 99.1: Information related to Class A common stock transactions.
Exhibit 99.2: Information related to Class B common stock transactions.

Key Considerations

The company emphasizes its obligation to update forward-looking statements only when required by law or regulation.
Investors should note potential risks and uncertainties that could affect the repurchase program and future performance.

Signatures

The report is signed by:
Michael L. Bunder, Senior Vice President, Deputy General Counsel, and Corporate Secretary.
Date of Signing: July 28, 2023.

This summary highlights the essential elements of the financial report, focusing on the company's stock repurchase program, its regulatory obligations, and the associated risks.