Business Context and Reporting Period
Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: October 4, 2024
Reporting Period: Specific event date of October 4, 2024, with signature dated October 7, 2024.
This filing reports on the Company's ongoing stock repurchase program and provides disclosures required by the Australian Securities Exchange (ASX).
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 capital allocation activities regarding share repurchases.
- Repurchase Authorization: Up to $1 billion in aggregate for Class A and Class B common stock.
- Trading Symbols: NWSA (Class A) and NWS (Class B) on The Nasdaq Global Select Market.
Material Changes
The filing discloses daily transaction information provided to the ASX regarding the Repurchase Program. No specific volume or price data for the repurchases is included in the body of this text; the details are contained in attached Exhibits 99.1 and 99.2.
Guidance, Outlook, and Risks
Management Commentary: The Company intends to repurchase shares from time to time under the authorized program. Actual repurchase activity is subject to market conditions, stock price, and alternative investment opportunities.
Risks and Contingencies:
- Forward-looking statements regarding repurchase intent are subject to uncertainty.
- Actual results may vary materially due to changes in market price, general market conditions, and applicable securities laws.
- 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 dates, share counts, and prices of recent repurchases.
- Verify the remaining balance of the $1 billion repurchase authorization against recent quarterly reports (10-Q or 10-K).
- Monitor ASX daily disclosures for real-time updates on repurchase activity not yet reflected in US filings.