AI English summary of an SEC filing — figures as filed
News Corp NWSNews Corp said it was authorized under its stock repurchase program (the "Repurchase Program") to buy back up to $1 billion in the aggregate of its Class A and Class B common stock. The company listed "To enhance shareholder value" as the reason for the buy-back.
Key points
AI summaryNews Corp said it was authorized under its stock repurchase program (the "Repurchase Program") to buy back up to $1 billion in the aggregate of its Class A and Class B common stock. The company listed "To enhance shareholder value" as the reason for the buy-back.
The company disclosed in its daily buy-back notification dated January 8, 2024 that, before January 5, it had cumulatively repurchased 17,108,129 shares for total consideration of US$319,213,383.66, and that on January 5 it repurchased 8,813 shares for total consideration of US$215,741.36.
The company disclosed that the highest price paid for shares bought before January 5 was US$24.80 on December 29, 2023, and the lowest price was US$14.88 on September 29, 2022, and that prices paid on the day ranged from US$24.23 to US$24.64. It said it had purchased approximately US$479,589,577.48 of shares to date, based on total consideration paid.
News Corp classified the program as an "Other buy-back" covering its Nasdaq-listed Class A and Class B common stock and named BofA Securities, Inc. as its broker. It said ASX-listed CDIs will not be repurchased under the program. The company listed the number of Class A shares on issue as 376,506,260.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Repurchase Program of up to $1 billion
News Corp said it was authorized under its stock repurchase program (the "Repurchase Program") to buy back up to $1 billion in the aggregate of its Class A and Class B common stock. The company listed "To enhance shareholder value" as the reason for the buy-back.
Source · Based on the filing body and exhibits
Class A Daily Buy-Back Notice (Purchases on January 5)
The company disclosed in its daily buy-back notification dated January 8, 2024 that, before January 5, it had cumulatively repurchased 17,108,129 shares for total consideration of US$319,213,383.66, and that on January 5 it repurchased 8,813 shares for total consideration of US$215,741.36.
Source · Based on the filing body and exhibits
Purchase Price Range and Total Consideration
The company disclosed that the highest price paid for shares bought before January 5 was US$24.80 on December 29, 2023, and the lowest price was US$14.88 on September 29, 2022, and that prices paid on the day ranged from US$24.23 to US$24.64. It said it had purchased approximately US$479,589,577.48 of shares to date, based on total consideration paid.
Source · Based on the filing body and exhibits
Buy-Back Method, ASX Notices and Shares on Issue
News Corp classified the program as an "Other buy-back" covering its Nasdaq-listed Class A and Class B common stock and named BofA Securities, Inc. as its broker. It said ASX-listed CDIs will not be repurchased under the program. The company listed the number of Class A shares on issue as 376,506,260.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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