News Corp Unveils $1 Billion Share Buyback Program, Already Repurchases $248M
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News Corp has initiated a new 2025 share repurchase program, authorizing the buyback of up to $1 billion in its Class A and Class B common stock. The company has already executed approximately $248.2 million in repurchases under this program. This significant capital allocation decision, representing about 6.5% of the company's market capitalization, follows the strong fiscal third-quarter results reported on May 7, which saw revenue climb 9% to nearly $2.2 billion. The program signals management's confidence in the company's valuation and its commitment to enhancing shareholder value. Traders will monitor the ongoing execution of the remaining authorization and its potential impact on the stock's performance and earnings per share.
At the time of this announcement, NWS was trading at $29.83 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $15.3B. The 52-week trading range was $25.49 to $35.58. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.