AI English summary of an SEC filing — figures as filed
News Corp NWSNews Corp said it has a stock repurchase program (Repurchase Program) under which it is authorized to buy back up to US$1 billion in the aggregate of its Class A common stock and Class B common stock. The company said it intends to repurchase shares from time to time, depending on market conditions and the company's share price, among other factors.
Key points
AI summaryNews Corp said it has a stock repurchase program (Repurchase Program) under which it is authorized to buy back up to US$1 billion in the aggregate of its Class A common stock and Class B common stock. The company said it intends to repurchase shares from time to time, depending on market conditions and the company's share price, among other factors.
In its daily buy-back notification to the ASX on Appendix 3C, the company said it repurchased 14,572 Class A shares for a total of US$373,831.55 on April 5, 2024 (05/04/2024). It said cumulative purchases before that day were 17,844,645 shares, for US$338,073,823.75.
The company said in the notification that its highest purchase price was US$27.09 on March 11, 2024 and its lowest was US$14.88 on September 29, 2022. It said it has bought Class A and Class B shares worth approximately US$507,620,484.54 to date, based on total consideration paid.
News Corp said it is buying back shares through BofA Securities, Inc. for cash consideration in U.S. dollars, and the price to be paid is not known in advance. The company gave "To enhance shareholder value" as the reason for the buy-back. It said security holder approval is not required and that ASX-listed CDIs are not subject to the buy-back.
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.
US$1 billion Stock Repurchase Program
News Corp said it has a stock repurchase program (Repurchase Program) under which it is authorized to buy back up to US$1 billion in the aggregate of its Class A common stock and Class B common stock. The company said it intends to repurchase shares from time to time, depending on market conditions and the company's share price, among other factors.
Source · Based on the filing body and exhibits
Class A Daily Buy-Back Details (April 5, 2024)
In its daily buy-back notification to the ASX on Appendix 3C, the company said it repurchased 14,572 Class A shares for a total of US$373,831.55 on April 5, 2024 (05/04/2024). It said cumulative purchases before that day were 17,844,645 shares, for US$338,073,823.75.
Source · Based on the filing body and exhibits
Repurchase Price Range and Cumulative Purchases
The company said in the notification that its highest purchase price was US$27.09 on March 11, 2024 and its lowest was US$14.88 on September 29, 2022. It said it has bought Class A and Class B shares worth approximately US$507,620,484.54 to date, based on total consideration paid.
Source · Based on the filing body and exhibits
Structure and Terms of the Repurchase Program
News Corp said it is buying back shares through BofA Securities, Inc. for cash consideration in U.S. dollars, and the price to be paid is not known in advance. The company gave "To enhance shareholder value" as the reason for the buy-back. It said security holder approval is not required and that ASX-listed CDIs are not subject to the buy-back.
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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