NEWS CORP current report, 23 June 2023

Full document

Business Context and Reporting Period

Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: June 23, 2023
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-Q or 10-K) and does not cover a fiscal quarter or year.

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 under this program were disclosed to the Australian Securities Exchange (ASX) on the dates noted in the attached exhibits (Exhibit 99.1 and Exhibit 99.2).
  • The filing serves to satisfy disclosure requirements for these specific repurchase transactions.

Guidance, Outlook, and Risks

Management Commentary and Forward-Looking Statements:

  • The attached exhibits contain forward-looking statements regarding the Company's intent to repurchase shares from time to time.
  • These statements are based on current 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 dates and volumes of shares repurchased in the attached ASX disclosures (Exhibits 99.1 and 99.2).
  • Confirm the remaining authorization balance under the $1 billion repurchase program by reviewing the most recent quarterly or annual report.
  • Review the Company's latest 10-Q or 10-K for comprehensive financial metrics (revenue, earnings, cash flow) as this 8-K does not provide them.