News Corporation Unveils $1 Billion Stock Repurchase Program in Latest 8-K Report
Key Information Extracted from the Financial Report
- Filing Overview:
- Form Type: 8-K (Current Report)
- Date of Report: March 8, 2022
- Company Name: News Corporation
- Company Address: 1211 Avenue of the Americas, New York, NY 10036
- Commission File Number: 001-35769
- IRS Employer Identification Number: 46-2950970
- Stock Repurchase Program:
- News Corporation has authorized a stock repurchase program allowing it to acquire up to $1 billion in aggregate of its outstanding shares of Class A common stock and Class B common stock.
- The company is required to report transactions related to this program to the Australian Securities Exchange (ASX) on a daily basis, and details are included in quarterly and annual reports.
- Forward-Looking Statements:
- The report includes forward-looking statements regarding the company's intent to repurchase its stocks. These statements are based on current management expectations and are subject to uncertainties, including market price fluctuations and general market conditions.
- Exhibits Included:
- Exhibit 99.1: Information provided to the ASX on the date noted.
- Exhibit 99.2: Another set of information provided to the ASX on a different date.
- Additional exhibit 104 is a cover page interactive data file embedded within the document.
- Emerging Growth Company Status:
- The registrant is not indicated as an emerging growth company.
- Signatures:
- The report is signed by Michael L. Bunder, Senior Vice President, Deputy General Counsel, and Corporate Secretary, dated March 9, 2022.
Insights
- The stock repurchase program reflects News Corporation's commitment to returning capital to shareholders, which may positively influence the stock price.
- The forward-looking statements suggest that while the company has a clear intention for stock repurchases, actual execution may be influenced by various market factors.
- Regular updates to the ASX indicate compliance with regulatory requirements and enhance transparency for investors.
This analysis provides a snapshot of the company's activities and strategic intentions as disclosed in the report.