8-K: News Corp Continues $1 Billion Stock Repurchase Program, Discloses Daily Buy-Back Activity to ASX

News Corporation discloses its daily stock repurchase activity to the Australian Securities Exchange (ASX) as part of its ongoing $1 billion buy-back program.

Summary

• News Corporation is executing a stock repurchase program, authorized to buy back up to $1 billion of its Class A and Class B common stock.
• The company is required to disclose daily buy-back transactions to the ASX.
• As of May 13, 2025, News Corp provided information to the ASX regarding its buy-back activities.
• The company has purchased approximately $672,733,527.93 worth of Class A and Class B shares to date.
• The buy-back program is subject to market conditions, stock price, and other factors.
• The company intends to repurchase shares in the open market or otherwise.
• Morgan Stanley & Co. LLC is acting as the broker for the on-market buy-back.
• The reason for the buy-back is to enhance shareholder value.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The announcement confirms the continuation of a previously announced buy-back program, which is generally viewed favorably by investors as it can increase shareholder value. There are no significant negative aspects highlighted.

Positives

• The stock repurchase program aims to enhance shareholder value.
• The company has already spent a significant portion ($672.7 million) of the authorized $1 billion on buy-backs, indicating a commitment to the program.
• Daily disclosures to the ASX provide transparency to investors.

Risks

• The buy-back program is subject to market conditions and the company's stock price.
• Changes in securities laws or alternative investment opportunities could impact the program.
• Forward-looking statements regarding the buy-back are subject to uncertainty and may not materialize.

Future Outlook

The company intends to continue repurchasing shares from time to time, subject to market conditions and other factors.

Industry Context

Stock repurchase programs are a common method for companies to return capital to shareholders, potentially increasing earnings per share and boosting stock prices. News Corp's program aligns with this trend.

Comparison to Industry Standards

• Comparing News Corp's buyback program to similar media companies like Fox Corporation or Paramount Global, the size of the buyback is substantial, reflecting a strong capital position.
• Other companies such as Alphabet and Meta have also engaged in large buyback programs to return value to shareholders.
• The effectiveness of the buyback will depend on the price at which shares are repurchased and the overall market conditions.

Stakeholder Impact

• Shareholders may benefit from the increased earnings per share and potential stock price appreciation resulting from the buy-back.
• The buy-back program demonstrates the company's confidence in its future prospects.

Key Dates

Keywords

stock repurchase, buy-back program, ASX, News Corporation, NWSA, NWS, Class A common stock, Class B common stock, shareholder value, Morgan Stanley