NEWS CORP current report, 29 September 2023

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Business Context and Reporting Period

Company: News Corp (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: September 29, 2023
Reporting Period: This filing reports on specific events related to the Company's stock repurchase program as of the report date. It is not a periodic financial report (e.g., 10-Q or 10-K) and does not cover a full fiscal quarter or year.

Key Financial Metrics

This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. 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 its Class A and Class B common stock.
  • Transactions under this program are disclosed daily to the Australian Securities Exchange (ASX) as required by ASX rules.
  • Exhibits 99.1 and 99.2 attached to this filing contain the specific transaction details provided to the ASX on the respective dates noted therein.

Guidance, Outlook, and Risks

Management Commentary and Forward-Looking Statements:

  • The filing includes forward-looking statements regarding the Company's intent to repurchase shares from time to time.
  • These statements are based on current management expectations and are subject to uncertainty.
Risks and Contingencies:
  • Actual results may vary materially due to changes in the market price of the Company's stock, general market conditions, applicable securities laws, and alternative investment opportunities.
  • The Company disclaims any obligation to update these forward-looking statements to reflect subsequent events, except as required by law.

Investor Verification Checklist

  • Review Exhibits 99.1 and 99.2 for specific dates and volumes of shares repurchased under the $1 billion program.
  • Verify the remaining authorization amount under the stock repurchase program by comparing total repurchases to the $1 billion cap.
  • Check subsequent filings for updates on the repurchase program status, as this 8-K does not provide a cumulative total.
  • Monitor ASX disclosures for daily transaction details if real-time tracking is required.