Business Context and Reporting Period
Company: News Corporation (NEWS CORP)
Filing Type: Form 8-K (Current Report)
Date of Report: December 20, 2021
Reporting Period: Specific event date of December 20, 2021
This filing serves as a current report to disclose ongoing activities related to the Company's stock repurchase program and to provide required disclosures to 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.
- Repurchase Authorization: Up to $1 billion in aggregate for Class A and Class B common stock.
- Trading Symbols: NWSA (Class A) and NWS (Class B) on The Nasdaq Global Select Market.
Material Changes
The filing reports no material changes to financial results or operations. The primary disclosure is the routine reporting of transactions under the existing Repurchase Program as required by ASX rules. The Company continues to acquire shares from time to time under the authorized program.
Guidance, Outlook, and Risks
Management Commentary: The Company intends to repurchase shares from time to time, subject to market conditions and other factors.
Forward-Looking Statements: The filing includes forward-looking statements regarding the intent to repurchase stock. These are based on 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 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 balance of the $1 billion repurchase authorization in subsequent quarterly or annual reports.
- Monitor general market conditions and stock price fluctuations that may influence the timing and volume of future repurchases.
- Review the Company's most recent 10-K or 10-Q for comprehensive financial metrics not included in this 8-K.