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News Corporation Unveils $1 Billion Stock Repurchase Plan in Latest SEC 8-K Report

$NWS
Form 8-K
Filed on: 2023-08-23
Source
News Corporation Unveils $1 Billion Stock Repurchase Plan in Latest SEC 8-K Report

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

General Information

  • Company Name: News Corporation
  • SEC Filing Type: Form 8-K (Current Report)
  • Filing Date: August 22, 2023
  • State of 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
  • Registrant's Telephone Number: (212) 416-3400

Stock Repurchase Program

  • Authorization Amount: News Corporation is authorized to repurchase up to $1 billion of its outstanding shares, comprising both Class A and Class B common stock.
  • Disclosure Requirements: The company must report transactions related to the repurchase program daily to the Australian Securities Exchange (ASX), and additional details are provided in quarterly and annual reports.

Forward-Looking Statements

  • The report contains forward-looking statements regarding the company's intent to repurchase shares. These statements are based on management's expectations and are subject to various uncertainties, including changes in stock prices and market conditions.

Exhibits

  • Exhibit 99.1: Information provided to the ASX regarding the repurchase program.
  • Exhibit 99.2: Additional information provided to the ASX related to the repurchase transactions.
  • Exhibit 104: Cover Page Interactive Data File.

Signature

  • The report was signed by Michael L. Bunder, Senior Vice President, Deputy General Counsel, and Corporate Secretary, on August 23, 2023.

Summary

This 8-K report primarily discusses the company's stock repurchase program, outlining its scope, obligations for reporting, and forward-looking statements about its intentions. The format adheres to SEC regulations, ensuring compliance and transparency in financial disclosures.

This information is relevant for investors and stakeholders who monitor corporate actions and strategic financial decisions of the company.