Business Context and Reporting Period
Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: September 6, 2024
Reporting Period: This filing reports on specific events related to the Company's stock repurchase program as of the report date.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity metrics. The document focuses exclusively on corporate actions regarding share repurchases.
Material Changes
Stock Repurchase Program Activity:
- The Company is executing its authorized stock repurchase program, which allows for the acquisition of up to $1 billion in aggregate of Class A and Class B common stock.
- Transactions were disclosed to the Australian Securities Exchange (ASX) on the dates noted in the attached exhibits (Exhibit 99.1 and Exhibit 99.2).
- Specific transaction volumes and prices for the reporting period are contained within the attached exhibits and are not detailed in the main body of this text.
Guidance, Outlook, and Risks
Management Commentary and Forward-Looking Statements:
- The filing includes forward-looking statements regarding the Company's intent to repurchase shares from time to time.
- These statements are based on current expectations and are subject to uncertainty.
- Actual results may vary materially due to changes in market price, general market conditions, applicable securities laws, and alternative investment opportunities.
- The Company disclaims any obligation to update forward-looking statements to reflect subsequent events, except as required by law.
Investor Verification Checklist
- Review Exhibit 99.1 and Exhibit 99.2 for specific details on the number of shares repurchased and the price paid per share during the reporting period.
- Verify the remaining authorization balance under the $1 billion repurchase program by comparing recent transaction totals against the initial authorization.
- Monitor subsequent filings for updates on the execution of the repurchase program, as the Company does not commit to updating forward-looking statements voluntarily.