NEWS CORP current report, 23 February 2024

Full document

Business Context and Reporting Period

Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: February 23, 2024
Reporting Period: This filing reports on specific events related to the Company's stock repurchase program as of the report date. It is not a periodic financial report (e.g., 10-K or 10-Q).

Key Financial Metrics

This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. 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 conducted in compliance with Australian Securities Exchange (ASX) rules, requiring daily disclosure of repurchase activity.
  • Details of specific transactions are contained in attached Exhibits 99.1 and 99.2, which are copies of information provided to the ASX.

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 management expectations and are subject to uncertainty.
Risks and Contingencies:
  • 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

  • Verify the specific volume and price of shares repurchased by reviewing the attached Exhibits 99.1 and 99.2 (ASX disclosures).
  • Confirm the remaining authorization balance under the $1 billion repurchase program by cross-referencing with the most recent quarterly or annual report.
  • Monitor subsequent filings for updates on the execution of the repurchase program, as this 8-K does not provide a cumulative total for the current period.