News Corp details US$1bn Nasdaq share buy-back program

The latest announcement is out from News Corporation Shs B Chess Depository Interests repr 1 Sh ( (AU:NWS) ).

News Corporation has outlined details of a previously authorised share repurchase program covering its Nasdaq-listed Class A and Class B common stock, with capacity to buy back up to an aggregate of US$1 billion. The buy-back, structured as an “other” off-market program under ASX rules, will be executed from time to time in the open market or otherwise, is subject to market conditions and stock price, and will not involve any ASX-listed CDIs, indicating a capital management focus that primarily affects holders of the U.S.-listed equity.

The company currently has 367,377,731 securities on issue in the relevant class and has not set a minimum number of shares to be repurchased under this initiative. By concentrating repurchases in its Nasdaq-listed stock and excluding ASX CDIs, News Corporation is targeting capital returns and potential earnings-per-share accretion for its U.S. shareholder base while maintaining the structure of its Australian-listed depositary interests.

The most recent analyst rating on (AU:NWS) stock is a Hold with a A$42.00 price target. To see the full list of analyst forecasts on News Corporation Shs B Chess Depository Interests repr 1 Sh stock, see the AU:NWS Stock Forecast page.

More about News Corporation Shs B Chess Depository Interests repr 1 Sh

News Corporation is a global media and publishing company whose shares trade on Nasdaq, with additional Chess Depositary Interests listed on the ASX. It issues Class A and Class B common stock and operates across news, information and related content businesses, giving it a significant presence in international media and information markets.

Average Trading Volume: 223,866

Technical Sentiment Signal: Hold

Current Market Cap: A$20.44B

See more data about NWS stock on TipRanks’ Stock Analysis page.