Business Context and Reporting Period
This Form 8-K was filed by News Corporation on January 7, 2022, with the report dated January 10, 2022. The filing serves as a current report to disclose specific events related to the Company's stock repurchase program and compliance with Australian Securities Exchange (ASX) regulations.
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 buybacks.
Material Changes and Events
- 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.
- ASX Disclosure: The Company provided daily transaction disclosures to the Australian Securities Exchange (ASX) regarding the Repurchase Program. Copies of these disclosures are attached as Exhibits 99.1 and 99.2.
Guidance, Outlook, and Risks
The filing includes forward-looking statements regarding the Company's intent to repurchase shares. Management notes that actual results may vary materially due to:
- Changes in the market price of the Company's stock.
- General market conditions.
- Applicable securities laws.
- Alternative investment opportunities.
The Company explicitly disclaims any obligation to update these forward-looking statements to reflect subsequent events, except as required by law.
Investor Verification Checklist
- Review Exhibit 99.1 and Exhibit 99.2 for specific details on the number of shares repurchased and the dates of transactions reported to the ASX.
- Verify 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.
- Confirm the current trading status and price of Class A (NWSA) and Class B (NWS) common stock on The Nasdaq Global Select Market.