NEWS CORP current report, 22 September 2022

Full document

Business Context and Reporting Period

Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: September 22, 2022
Reporting Period: This filing reports on specific events occurring on or before September 22, 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 reported transactions under its existing stock repurchase program, which authorizes the acquisition of up to $1 billion in aggregate of Class A and Class B common stock.
  • Disclosures were made to the Australian Securities Exchange (ASX) on a daily basis regarding these transactions, as required by ASX rules.
  • Details of specific transactions are contained in Exhibits 99.1 through 99.4 attached to the filing.

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.
  • Management notes that actual results may vary materially due to market price fluctuations, general market conditions, 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.
Risks and Contingencies:
  • Execution of the repurchase program is subject to uncertainty and changes in circumstances.

Investor Verification Checklist

  • Verify the specific volume and price of shares repurchased by reviewing Exhibits 99.1, 99.2, 99.3, and 99.4 attached to the original filing.
  • Confirm the remaining authorization balance under the $1 billion repurchase program by cross-referencing with the most recent quarterly (10-Q) or annual (10-K) report.
  • Monitor subsequent ASX disclosures for daily updates on repurchase activity.