News Corporation Details US$1 Billion Share Repurchase Program

News Corporation Shs B Chess Depository Interests repr 1 Sh ( (AU:NWS) ) has provided an update.

News Corporation has notified the ASX of a daily buy-back activity under a previously authorized repurchase program covering its Nasdaq-listed Class A and Class B common stock. The program allows the company to repurchase up to an aggregate of US$1 billion of these U.S.-listed shares, with no ASX-listed CDIs to be bought back under this arrangement.

The filing specifies that the repurchases may be executed in the open market or otherwise, subject to market conditions, share price and other factors. By executing this buy-back, News Corporation signals potential balance sheet optimization and capital management intentions, which may support earnings per share and shareholder value but will not directly affect holders of ASX-listed CDIs.

The most recent analyst rating on (AU:NWS) stock is a Buy with a A$53.00 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 information services company with shares listed on Nasdaq and represented on the ASX through CHESS Depositary Interests. The company operates through multiple classes of common stock, including Class A and Class B shares, and targets investors across U.S. and Australian markets.

Average Trading Volume: 183,003

Technical Sentiment Signal: Hold

Current Market Cap: A$19.64B

For detailed information about NWS stock, go to TipRanks’ Stock Analysis page.