Business Context and Reporting Period
Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: May 11, 2023
Reporting Period: This filing reports on specific events occurring on or before May 11, 2023, regarding the Company's stock repurchase activities.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity metrics. The document focuses exclusively on corporate actions related to share repurchases.
Material Changes
Stock Repurchase Program: 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. This filing serves to disclose specific transactions made pursuant to this program as required by the Australian Securities Exchange (ASX).
Guidance, Outlook, and Risks
Management Commentary: The Company discloses that it intends to repurchase shares from time to time. These statements are based on current management expectations and are subject to change.
Risks and Uncertainties: 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 forward-looking statements except as required by law.
Investor Verification Checklist
- Verify the specific number of shares repurchased and the average price paid by reviewing the attached Exhibits 99.1 and 99.2 (ASX disclosures).
- Confirm the remaining authorization balance under the $1 billion repurchase program.
- Review the Company's most recent quarterly or annual report for comprehensive financial performance data not included in this 8-K.