Business Context and Reporting Period
This Form 8-K Current Report was filed by News Corporation (News Corp) on December 13, 2021. The filing addresses "Other Events" related to the Company's ongoing stock repurchase program and includes disclosures required by the Australian Securities Exchange (ASX).
Key Financial Metrics
The filing does not provide specific financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity for the reporting period. The document focuses exclusively on capital allocation activities regarding share buybacks.
Material Changes and Program Details
- Repurchase Program Authorization: News Corp is authorized to acquire up to $1 billion in aggregate of its outstanding Class A and Class B common stock.
- Recent Activity: The Company disclosed specific transactions executed under the Repurchase Program to the ASX on the dates noted in the attached exhibits (Exhibit 99.1 and Exhibit 99.2).
- Reporting Requirements: The Company is required to provide daily disclosure of these transactions to the ASX and discloses aggregate information in quarterly and annual reports.
Guidance, Outlook, and Risks
The filing contains forward-looking statements regarding the Company's intent to repurchase shares from time to time. 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 expressly disclaims any obligation to update these forward-looking statements to reflect subsequent events or circumstances, except as required by law.
Investor Verification Checklist
- Review Exhibit 99.1 and Exhibit 99.2 for the specific dates, share counts, and prices of recent repurchase transactions.
- Verify the remaining authorization balance under the $1 billion repurchase program in the most recent quarterly or annual report.
- Monitor future ASX disclosures for daily updates on repurchase activity.
- Check subsequent filings for any changes to the repurchase program authorization or termination.