Business Context and Reporting Period
Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: June 24, 2022
Reporting Period: Specific event date of June 24, 2022, with signature dated June 27, 2022.
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 statements, revenue, profit, cash flow, margin, debt, or liquidity metrics. The document focuses solely on corporate actions 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 transactions executed under the Repurchase Program as reported to the ASX on the dates noted in the attached exhibits. No specific transaction volumes or prices are detailed within the body of this text; they are referenced in 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. The timing and amount of repurchases depend on 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 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 dates, share counts, and prices of recent repurchases.
- Verify the remaining balance of the $1 billion repurchase authorization in the most recent quarterly or annual report.
- Monitor ASX daily disclosures for subsequent repurchase activity.
- Check for any changes in the Company's capital allocation strategy in upcoming earnings releases.