Business Context and Reporting Period
Company: News Corporation (News Corp)
Filing Type: Form 8-K (Current Report)
Date of Report: June 25, 2024
Reporting Period: Specific event date (June 25, 2024)
This filing reports on the Company's ongoing stock repurchase program and provides disclosures required by the Australian Securities Exchange (ASX) regarding recent transactions.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity for the current period. This document serves as a disclosure of corporate actions rather than a financial performance report.
- Stock 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 the execution of transactions under the existing Repurchase Program. Specific details regarding the number of shares repurchased or the exact dollar amount spent in the most recent transactions are contained in attached Exhibits 99.1 and 99.2, which are not included in the provided text. Therefore, specific quantitative changes versus the prior period cannot be determined from this summary.
Guidance, Outlook, and Risks
Management Commentary: The Company intends to repurchase shares from time to time under the authorized program. Management notes that these statements are forward-looking and based on current expectations.
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
- Review Exhibit 99.1 and Exhibit 99.2 (attached to the full filing) for the specific volume and price of shares repurchased on the dates noted therein.
- Verify the remaining balance of the $1 billion repurchase authorization against the total amount spent to date.
- Monitor future quarterly and annual reports for updated disclosures on the Repurchase Program.