News Corp Updates US$2 Billion Share Repurchase Capacity, Excludes ASX CDIs

Claim 50% Off TipRanks Premium and Invest with Confidence Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potentialNews Corporation Shs B Chess Depository Interests repr 1 Sh ( (AU:NWS) ) has shared an update. News Corporation has updated the market on its existing share repurchase programs for its Nasdaq-listed Class A and Class B common stock, confirming that it is authorised to buy back up to US$1 billion of stock under a 2021 program and an additional US$1 billion under a 2025 program. The company intends to conduct these buy-backs from time to time in the open market or otherwise, subject to market conditions and share price, and has clarified that no ASX-listed Chess Depository Interests will be repurchased under these programs, signalling a focus on reducing its U.S.-listed share float and potentially enhancing capital management flexibility for shareholders of its primary U.S. securities. The most recent analyst rating on (AU:NWS) stock is a Hold with a A$49.00 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 operations spanning news and information publishing, digital real estate services, book publishing and cable network programming. Its primary products include newspapers, digital news platforms and other content-driven media assets, with listings on Nasdaq and Chess Depository Interests on the ASX for its Class A and Class B common stock, giving it access to both U.S. and Australian capital markets. Average Trading Volume: 176,333 Technical Sentiment Signal: Hold Current Market Cap: A$23.14B For a thorough assessment of NWS stock, go to TipRanks’ Stock Analysis page.