News Corp Hit With $10B Defamation Lawsuit; Company Buys Back AU$173.9M in Shares
Summary
News Corp faces a significant legal challenge, being named as a defendant in an updated $10 billion defamation lawsuit by Donald Trump related to a July 2025 Wall Street Journal article. This potential liability is extremely material, representing over 65% of the company's market capitalization, posing a significant financial risk. Separately, the company continued its share repurchase program, buying back 6.99 million shares for approximately AU$173.9 million (US$115.5 million). This buyback is an execution update on the $1 billion program announced on May 15th, but its positive impact is dwarfed by the scale of the lawsuit. The legal proceedings for the defamation suit will be critical to monitor.
At the time of this announcement, NWS was trading at $30.34 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $15.2B. The 52-week trading range was $25.49 to $35.58. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Wiseek News.