Business Context and Reporting Period
Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: February 24, 2022
Reporting Period: This filing reports on specific events occurring on or before February 24, 2022, rather than a standard quarterly or annual financial period.
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 Class A and Class B common stock.
- Transactions were disclosed to the Australian Securities Exchange (ASX) on the dates noted in the attached exhibits (Exhibit 99.1 and Exhibit 99.2).
- These disclosures are required under ASX rules for daily reporting of repurchase transactions.
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.
- Actual results may vary materially due to changes in market price, 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
- Verify the specific dates and volumes of share repurchases in the attached ASX disclosures (Exhibits 99.1 and 99.2).
- Confirm the remaining authorization balance under the $1 billion repurchase program by reviewing the most recent quarterly or annual report.
- Monitor subsequent 8-K filings for updates on the execution of the repurchase program.