Business Context and Reporting Period
Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: September 19, 2022
Reporting Period: Specific event date (September 19, 2022)
This filing reports on the Company's ongoing stock repurchase program and provides disclosures required by the Australian Securities Exchange (ASX) regarding recent transactions.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity metrics. It is a current report focused on corporate actions rather than periodic financial performance.
- Repurchase Authorization: Up to $1 billion in aggregate for Class A and Class B common stock.
- Trading Symbols: NWSA (Class A), NWS (Class B) on The Nasdaq Global Select Market.
Material Changes
The filing discloses specific transactions executed under the Repurchase Program as required by ASX rules. The text does not quantify the specific number of shares repurchased or the total cost of transactions for this specific reporting period, referring instead to attached Exhibits 99.1 and 99.2 for detailed transaction data.
Guidance, Outlook, and Risks
Management Commentary: The Company intends to repurchase shares from time to time under the authorized program. Actual repurchase activity is subject to market conditions, stock price, and alternative investment opportunities.
Risks and Contingencies:
- Forward-looking statements regarding repurchase intent are subject to uncertainty.
- Actual results may vary materially due to changes in market price, general market conditions, and applicable securities laws.
- The Company disclaims any obligation to update forward-looking statements except as required by law.
Investor Verification Checklist
- Verify the specific volume and price of shares repurchased by reviewing Exhibit 99.1 and Exhibit 99.2 attached to the original filing.
- Confirm the remaining balance of the $1 billion repurchase authorization in the Company's most recent quarterly or annual report.
- Monitor subsequent 8-K filings for updates on the Repurchase Program execution.