Business Context and Reporting Period
Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: November 22, 2021
Reporting Period: Specific event date of November 22, 2021
This filing reports on the Company's ongoing stock repurchase program and provides disclosures required by the Australian Securities Exchange (ASX) regarding recent transactions.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity for the reporting period. This document is a current report focused on corporate actions rather than a periodic financial statement.
- Stock 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 the execution of transactions under the existing Repurchase Program. It references attached exhibits (99.1 and 99.2) containing daily disclosure data provided to the ASX, but the specific volume or value of shares repurchased on the reported dates is not detailed within the main body of this text.
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 future 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 materially due to changes in market price, general market conditions, and applicable securities laws.
- 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 price paid per share on the dates noted therein.
- Verify the remaining balance of the $1 billion repurchase authorization in the Company's most recent quarterly or annual report.
- Monitor subsequent filings for updates on the Repurchase Program execution.