Business Context and Reporting Period
Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: September 9, 2022
Reporting Period: Specific event date (September 9, 2022); not a periodic financial report.
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 were disclosed to the Australian Securities Exchange (ASX) on the dates noted in the attached exhibits (Exhibit 99.1 and Exhibit 99.2).
- Specific transaction volumes and prices for the reporting period are contained within the attached 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.
- Forward-looking statements regarding repurchase intent are based on current expectations and are subject to change.
- 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 and the average price paid per share.
- Verify the remaining authorization balance under the $1 billion repurchase program.
- Check subsequent filings for updates on the execution of the repurchase program.