Business Context and Reporting Period
Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: February 17, 2022
Reporting Period: Specific event date (February 17, 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 Form 8-K does not contain financial statements, revenue, profit, cash flow, or margin data. The only financial metric disclosed is the authorization limit for the stock repurchase program.
- Repurchase Authorization: Up to $1 billion in aggregate for Class A and Class B common stock.
Material Changes
The filing does not report material changes to financial performance or operations compared to prior periods. It serves as a routine disclosure of transactions executed under the existing Repurchase Program as required by ASX rules.
Guidance, Outlook, and Risks
Management Commentary: The Company intends to repurchase shares from time to time under the authorized program. Specific transaction details are attached as Exhibits 99.1 and 99.2.
Risks and Uncertainties: The filing includes forward-looking statements regarding the intent to repurchase stock. Management notes that actual results may vary materially due to:
- Changes in the market price of the Company's stock.
- General market conditions.
- Applicable securities laws.
- Alternative investment opportunities.
The Company disclaims any obligation to update these forward-looking statements except as required by law.
Investor Verification Checklist
- Verify the specific number of shares repurchased and the average price paid by reviewing Exhibit 99.1 and Exhibit 99.2 attached to the filing.
- Confirm the remaining balance of the $1 billion repurchase authorization by cross-referencing with the most recent quarterly (10-Q) or annual (10-K) report.
- Review the ASX disclosure dates noted in the exhibits to ensure timely reporting compliance.