NEWS CORP SPENDS US$1.87M ON SHARE BUYBACKS

By Greg Peters • Friday, June 12 16:02 • Permanent Link

News Corporation said it repurchased 70,004 shares on June 11, spending US$1.87 million, following a much larger prior-day buyback of 7.74 million shares for US$194.05 million.

The company’s daily buyback filing said the highest price paid on the latest buyback day was US$26.94, while the lowest price paid was US$26.42. On the prior day, the highest price paid was US$27.60 and the lowest was US$22.20.

The repurchases are part of a 2025 program authorizing up to US$1 billion of the company’s Nasdaq-listed Class A and Class B common stock. News said it has bought about US$301.59 million of stock so far under that program.

The company reported 362,505,701 shares on issue in the class covered by the filing. It identified Goldman Sachs & Co. LLC as broker for the buyback. Following these announcements, the company's shares moved -2.21%, and are now trading at a price of $25.715. If you want to know more, read the company's complete 8-K report here.

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