News Corporation Stock Repurchase Program - May 2023 Form 8-K Report
Here are the key insights extracted from the financial report section provided:
- Filing Information:
- Form: This is a Form 8-K, which is a current report used by public companies to announce major events that shareholders should know about.
- Date of Report: The report is dated May 24, 2023.
- Company Details:
- Company 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 Number: (212) 416-3400
- Stock Repurchase Program:
- The company has a stock repurchase program authorized to acquire up to $1 billion of its outstanding shares, which includes both Class A and Class B common stock.
- The company is required to disclose transactions related to this repurchase program to the Australian Securities Exchange (ASX) on a daily basis.
- Additional disclosures regarding the program will be included in quarterly and annual reports.
- Forward-Looking Statements:
- The report includes forward-looking statements regarding the company's intent to repurchase its stocks, which are subject to various uncertainties such as market conditions and stock price fluctuations.
- The company does not undertake any obligation to update these forward-looking statements unless required by law or regulation.
- Exhibits:
- The report includes references to Exhibit 99.1 and Exhibit 99.2, which contain information provided to the ASX on specific dates.
Overall, this section of the financial report primarily focuses on the company's stock repurchase program and the related disclosures required under securities regulations. It highlights the company's commitment to returning capital to shareholders while also managing market uncertainties.