News Corporation (NASDAQ:NWSA) (NASDAQ:NWS), the global media and information services company, has disclosed ongoing transactions under its stock repurchase program, according to a recent 8-K filing with the U.S. Securities and Exchange Commission (SEC).
The company is actively buying back shares as part of a previously announced plan to repurchase up to $1 billion of its Class A and Class B common stock.
The repurchase activity is part of News Corp (NASDAQ:NWSA)'s broader strategy to deliver value to shareholders and optimize its capital structure. Under the rules of the Australian Securities Exchange (ASX), where the company also trades, News Corp is required to report daily on repurchase transactions. This information is also included in the company's quarterly and annual reports to provide transparency to all market participants.
The filings contain forward-looking statements regarding the company's intentions to continue repurchasing shares, reflecting management's current expectations and beliefs.
However, results could differ due to various factors, including market conditions, stock prices, legal requirements, and other investment opportunities.
News Corp emphasizes that these forward-looking statements are based on circumstances as of the date of the report and that it does not commit to updating these statements publicly, except as required by law.
The execution of the repurchase program is subject to change, influenced by factors such as News Corp's stock market price fluctuations and general market conditions.
The company's SEC filings detail the risks and uncertainties that could impact the repurchase program and News Corp's overall financial performance.
Investors and interested parties are directed to the company's filings with the SEC to comprehensively understand the repurchase program's scope and the associated forward-looking statements. The information in this article is based on a press release statement from News Corporation.
In other recent news, News Corp has been actively executing its $1 billion stock repurchase program, buying back its Class A and Class B common stock, as disclosed in several filings with the Securities and Exchange Commission.
This initiative is part of a broader strategy to enhance shareholder value, but market conditions and legal requirements could influence its outcomes. In the fourth quarter of fiscal year 2024, News Corp reported a 6% revenue increase to approximately $2.6 billion, with profitability rising by 11% to $380 million.
This growth was largely driven by the company's diverse sectors, including its book publishing, digital real estate services, and Dow Jones segments. Morgan Stanley (NYSE:MS) has revised its financial model for News Corp, increasing the stock price target from $31.00 to $35.00.
However, the firm's earnings per share (EPS) estimates have been slightly reduced due to assumptions of higher minority interest and tax rates. Despite a 5% decrease in revenues and a 38% drop in EBITDA in the News Media segment, News Corp is planning for fiscal 2025, focusing on streaming, B2B growth, and data offerings. These are some of the recent developments for News Corp.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.