News Corp provided two daily updates to the Australian Securities Exchange on its existing share-repurchase program. The program allows the company to buy back up to $1 billion of its Class A and Class B shares in total.
The announcement does not state how many shares, if any, were bought in the updates. It reiterates that repurchases may occur from time to time and that their timing depends on factors including the share price, market conditions, securities laws and other investment opportunities.
Key details
- The repurchase authorization covers both Class A and Class B common stock, with a combined maximum of $1 billion.
- News Corp supplied the ASX with two daily buy-back notifications. The company said it also reports information about the program in its quarterly and annual reports.
- The materials provided here do not include the transaction details from the attached daily notices, so they do not establish whether shares were repurchased or the amount spent on either date.
What changes
The announcement does not describe a new authorization or a change to the program’s terms. It is a reporting update on the existing buy-back program.