AI English summary of an SEC filing — figures as filed
News Corp NWSNews Corp said its Repurchase Program, covering a combined total of up to US$1 billion of Class A and Class B common stock, is authorized. The company said it plans to repurchase shares from time to time in the open market or otherwise, depending on market conditions and the stock price.
Key points
AI summaryNews Corp said its Repurchase Program, covering a combined total of up to US$1 billion of Class A and Class B common stock, is authorized. The company said it plans to repurchase shares from time to time in the open market or otherwise, depending on market conditions and the stock price.
In its Appendix 3C filed with the ASX, the company said it bought back 18,600,958 shares before June 21, 2024, for total consideration of US$357,402,458.56, and bought back 15,266 shares on June 21, for US$410,556.17.
The company said the highest price paid for Class A shares in this filing was US$27.91 on June 6, 2024, and the lowest was US$14.88 on September 29, 2022, with the price range on June 21 between US$26.61 and US$27.02. It said it has bought about US$536,677,104.92 of shares to date under the US$1 billion authorization.
The company classified the program as an "Other buy-back" under ASX rules and said BofA Securities, Inc. is the broker. It said no ASX-listed CDIs will be repurchased under the program. The company gave "To enhance shareholder value" as the reason for the buy-back and said it does not require security holder approval.
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.
News Corp Repurchase Program Authorization of US$1 billion
News Corp said its Repurchase Program, covering a combined total of up to US$1 billion of Class A and Class B common stock, is authorized. The company said it plans to repurchase shares from time to time in the open market or otherwise, depending on market conditions and the stock price.
Source · Based on the filing body and exhibits
Cumulative Class A Common Stock Repurchases as of June 21, 2024
In its Appendix 3C filed with the ASX, the company said it bought back 18,600,958 shares before June 21, 2024, for total consideration of US$357,402,458.56, and bought back 15,266 shares on June 21, for US$410,556.17.
Source · Based on the filing body and exhibits
Class A Price Range and Cumulative Spending Against Authorization
The company said the highest price paid for Class A shares in this filing was US$27.91 on June 6, 2024, and the lowest was US$14.88 on September 29, 2022, with the price range on June 21 between US$26.61 and US$27.02. It said it has bought about US$536,677,104.92 of shares to date under the US$1 billion authorization.
Source · Based on the filing body and exhibits
Buy-Back Method, Securities, Broker and Approval Requirements
The company classified the program as an "Other buy-back" under ASX rules and said BofA Securities, Inc. is the broker. It said no ASX-listed CDIs will be repurchased under the program. The company gave "To enhance shareholder value" as the reason for the buy-back and said it does not require security holder approval.
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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