Business Context and Reporting Period
Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Report Date: November 1, 2023
Subject: Disclosure of stock repurchase transactions under the Company's authorized 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 repurchases.
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 and transaction prices for the reported period are contained within the exhibits and are not detailed in the main body of this text.
Guidance, Outlook, and Risks
Management Commentary:
- Management intends to repurchase shares from time to time under the existing program.
- Future repurchases are subject to market conditions, stock price, applicable securities laws, and alternative investment opportunities.
- Forward-looking statements regarding repurchase intent are subject to uncertainty; actual results may vary materially.
- The Company disclaims any obligation to update forward-looking statements except as required by law.
Investor Verification Checklist
- Review Exhibit 99.1 and 99.2 for specific dates, share counts, and prices of recent repurchases.
- Verify the remaining authorization balance of the $1 billion repurchase program in the most recent quarterly (10-Q) or annual (10-K) report.
- Monitor ASX disclosures for daily updates on repurchase activity as required by Australian regulations.