AI English summary of an SEC filing — figures as filed
News Corp NWSNews Corp said it operates a repurchase program (the "Repurchase Program") under which it may buy back up to $1 billion in the aggregate of its Class A and Class B common stock. The company said that under Australian Securities Exchange (ASX) rules, it must disclose transactions under the program to the ASX on a daily basis.
Key points
AI summaryNews Corp said it operates a repurchase program (the "Repurchase Program") under which it may buy back up to $1 billion in the aggregate of its Class A and Class B common stock. The company said that under Australian Securities Exchange (ASX) rules, it must disclose transactions under the program to the ASX on a daily basis.
The company said it plans to repurchase Class A and Class B common stock from time to time in the open market or otherwise, subject to market conditions and the market price of its stock. It said no ASX-listed CDIs will be repurchased under the program. The broker is BofA Securities, Inc., and the company listed the reason for the buy-back as "To enhance shareholder value."
The company told the ASX that on October 21, 2024, the previous day, it bought 15,162 Class A common shares for a total of US$399,879.56. The lowest price paid that day was US$26.29 and the highest was US$26.58, the company said.
The company said in its ASX notice that before the previous day, it had repurchased 19,859,070 shares of Class A common stock for a total of US$391,404,201.52. The company said it has repurchased Class A and Class B shares worth approximately US$588,050,325.68 in total consideration to date.
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 authorization of up to $1 billion
News Corp said it operates a repurchase program (the "Repurchase Program") under which it may buy back up to $1 billion in the aggregate of its Class A and Class B common stock. The company said that under Australian Securities Exchange (ASX) rules, it must disclose transactions under the program to the ASX on a daily basis.
Source · Based on the filing body and exhibits
Program type, purchase method and broker
The company said it plans to repurchase Class A and Class B common stock from time to time in the open market or otherwise, subject to market conditions and the market price of its stock. It said no ASX-listed CDIs will be repurchased under the program. The broker is BofA Securities, Inc., and the company listed the reason for the buy-back as "To enhance shareholder value."
Source · Based on the filing body and exhibits
Class A repurchases on October 21, 2024
The company told the ASX that on October 21, 2024, the previous day, it bought 15,162 Class A common shares for a total of US$399,879.56. The lowest price paid that day was US$26.29 and the highest was US$26.58, the company said.
Source · Based on the filing body and exhibits
Cumulative repurchases before the previous day and total consideration
The company said in its ASX notice that before the previous day, it had repurchased 19,859,070 shares of Class A common stock for a total of US$391,404,201.52. The company said it has repurchased Class A and Class B shares worth approximately US$588,050,325.68 in total consideration to date.
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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