Business Context and Reporting Period
Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: June 13, 2024
Reporting Period: Specific event date of June 13, 2024
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 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:
- The Company is authorized to acquire up to $1 billion in aggregate of its outstanding Class A and Class B common stock.
- The filing discloses transactions made pursuant to this program, as required by ASX rules, with specific transaction details provided in attached Exhibits 99.1 and 99.2.
Guidance, Outlook, and Risks
Forward-Looking Statements:
- The attached exhibits contain forward-looking statements regarding the Company's intent to repurchase shares from time to time.
- These statements are based on management's current expectations and are subject to uncertainty.
Risks and Contingencies:
- 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
- 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 against the total $1 billion cap.
- Monitor future 8-K filings for updates on the execution of the repurchase program.