Business Context and Reporting Period
This Form 8-K Current Report was filed by News Corporation (News Corp) on March 30, 2023. The filing addresses "Other Events" related to the Company's ongoing stock repurchase program and includes disclosures made to the Australian Securities Exchange (ASX).
Key Financial Metrics
This filing does not contain specific financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on corporate actions regarding share repurchases.
Material Changes
The filing reports on the execution of the Company's authorized stock repurchase program, which allows for the acquisition of up to $1 billion in aggregate of Class A and Class B common stock. The Company is required to disclose these transactions daily to the ASX. Copies of the information provided to the ASX are attached as Exhibits 99.1 and 99.2.
Guidance, Outlook, and Risks
The attached exhibits contain forward-looking statements regarding the Company's intent to repurchase shares. Management notes that actual results may vary materially due to factors including changes in market price, general market conditions, applicable securities laws, and alternative investment opportunities. The Company disclaims any obligation to update these forward-looking statements except as required by law.
Investor Verification Checklist
- Verify the specific dates and volumes of share repurchases detailed in Exhibits 99.1 and 99.2.
- Confirm the remaining authorization balance under the $1 billion repurchase program.
- Review the Company's quarterly and annual reports for broader financial context not included in this 8-K.