Business Context and Reporting Period
Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Report Date: October 31, 2024
Event: Disclosure of stock repurchase transactions under the Company's authorized Repurchase Program.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on corporate actions regarding share buybacks.
Material Changes
Stock Repurchase Program:
- The Company is authorized to repurchase up to $1 billion in aggregate of its Class A and Class B common stock.
- Transactions were executed and disclosed to the Australian Securities Exchange (ASX) on dates noted in attached Exhibits 99.1 and 99.2.
- Specific share counts, prices, or total dollar amounts repurchased in this specific reporting window are not detailed in the text of this 8-K but are contained within the referenced exhibits.
Guidance, Outlook, and Risks
Management Commentary:
- Management intends to repurchase shares from time to time under the existing program.
- Forward-looking statements regarding repurchase intent are based on current expectations and are subject to change.
Risks and Contingencies:
- Actual results may vary 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 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, average price per share, and total cost of transactions.
- Verify the remaining authorization balance under the $1 billion repurchase program by comparing recent buyback activity against the total authorized amount.
- Check subsequent quarterly reports (10-Q) or annual reports (10-K) for updated financial metrics and comprehensive liquidity data not included in this 8-K.