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News Corporation's April 2022 8-K Report: $1B Stock Buyback Announcement

$NWS
Form 8-K
Filed on: 2022-04-14
Source
News Corporation's April 2022 8-K Report: $1B Stock Buyback Announcement

Here are the key insights extracted from the provided section of News Corporation's financial report (Form 8-K) dated April 13, 2022:

  1. Company Information:
  • Name: News Corporation
  • State of Incorporation: Delaware
  • Commission File Number: 001-35769
  • IRS Employer Identification Number: 46-2950970
  • Principal Executive Offices: 1211 Avenue of the Americas, New York, New York 10036
  • Telephone: (212) 416-3400
  1. Report Type:
  • This filing is a current report (Form 8-K) under the Securities Exchange Act of 1934, indicating it contains significant information that may affect the company’s stock or financial condition.
  1. Stock Repurchase Program:
  • The Company has a stock repurchase program authorized to buy back up to $1 billion of its outstanding shares of Class A and Class B common stock.
  • The program is subject to regulations by the Australian Securities Exchange (ASX), requiring daily disclosures regarding the transactions.
  1. Forward-Looking Statements:
  • The report includes forward-looking statements about the repurchase intentions, emphasizing that these statements are subject to uncertainties and may change based on market conditions and other factors.
  1. Exhibits:
  • The report mentions Exhibits 99.1 and 99.2, which contain information provided to the ASX on specific dates. This includes disclosures about the stock repurchase program.
  1. Signatory:
  • The report is signed by Michael L. Bunder, Senior Vice President, Deputy General Counsel, and Corporate Secretary, affirming the report's authenticity and compliance with regulatory requirements.
  1. Date of Report:
  • The report is dated April 14, 2022, and references events occurring on April 13, 2022.

This summary encapsulates the critical elements of the report, including company identification, significant corporate actions regarding stock repurchases, regulatory compliance, and forward-looking commentary on market activities.