News Corporation Discloses Ongoing Share Buyback Activity Under $1 Billion Repurchase Program in ASX Filing Update

News Corporation's $1 Billion Share Repurchase Program: Background and Authorization

News Corporation's stock repurchase program was previously announced and authorizes the company to acquire, from time to time, up to $1 billion in aggregate of its outstanding shares of Class A common stock and Class B common stock. The program applies to both share classes, reflecting the company's dual-class capital structure, with Class A shares trading under the ticker NWSA and Class B shares trading under the ticker NWS, both on the Nasdaq Global Select Market. The buyback program represents a significant capital allocation commitment by News Corporation's board and management.

Share repurchase programs of this scale are commonly used by major corporations to return capital to shareholders, potentially reduce the total share count over time, and signal management confidence in the company's intrinsic value. News Corporation has not disclosed in this particular report the total amount of shares repurchased to date under the program, nor the remaining dollar capacity available under the $1 billion authorization. Investors seeking those cumulative figures are directed to the company's quarterly and annual reports, where the filing states such information is also disclosed.

Australian Securities Exchange Reporting Obligations Driving This Disclosure

A distinctive aspect of this disclosure is that it arises from News Corporation's obligations under the rules of the Australian Securities Exchange, commonly known as the ASX. The filing states that under ASX rules, News Corporation is required to provide to the ASX, on a daily basis, disclosure of any transactions conducted pursuant to the Repurchase Program. This daily reporting requirement reflects the fact that News Corporation maintains a meaningful presence and investor base in Australia, necessitating compliance with Australian market regulations in addition to its US obligations.

The current report filed on July 15, 2026 attaches, as Exhibit 99.1 and Exhibit 99.2, copies of the information that was provided to the ASX on the respective dates noted within those exhibits. The filing does not reproduce the specific transaction details — such as the number of shares repurchased or the prices paid — within the main body of the report itself. Instead, those details are contained exclusively within the attached exhibits, consistent with the company's established practice for these routine ASX-driven disclosures. The specific figures for the July 14, 2026 transactions were therefore contained in the exhibits rather than in the primary filing text.

Class A and Class B Common Stock Both Covered Under the Buyback

News Corporation's repurchase program covers both of its publicly traded share classes. Class A common stock, trading under the symbol NWSA, carries limited voting rights, while Class B common stock, trading under NWS, carries full voting rights. Both classes are listed on the Nasdaq Global Select Market and both carry a par value of $0.01 per share, as specified in the filing. The inclusion of both share classes within a single $1 billion aggregate authorization is notable and gives the company flexibility to repurchase whichever class it deems most appropriate at any given time.

The dual-class structure is characteristic of media companies with founding family involvement, and News Corporation's structure reflects the historical governance preferences associated with its controlling shareholders. By authorizing buybacks across both share classes, the board retains flexibility in how it deploys repurchase capital, potentially responding to relative pricing dynamics between the two classes. The filing does not indicate any specific weighting or preference between Class A and Class B repurchases for the transactions disclosed on July 14, 2026. The company did not disclose this figure in the filing.

Forward-Looking Statements and Repurchase Uncertainty Highlighted

News Corporation's report explicitly flags that the attached ASX disclosure materials contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Specifically, the filing identifies statements regarding the company's intent to repurchase, from time to time, its Class A and Class B common stock as forward-looking in nature. This characterization is standard practice under US securities law whenever a company expresses intentions about future actions rather than reporting historical facts.

The filing goes on to identify several factors that could cause actual repurchase activity to differ materially from what these forward-looking statements might imply. These factors include changes in the market price of News Corporation's stock, general market conditions, applicable securities laws, and alternative investment opportunities, as well as broader risks and uncertainties described in the company's prior filings with regulators. The company states that the forward-looking statements included in the ASX materials are made only as of the date of the report, and News Corporation expressly disclaims any obligation to publicly update them, except as required by law or regulation.

Dual-Market Listing Creates Layered Disclosure Requirements for News Corporation

News Corporation's status as a company with reporting obligations in both the United States and Australia creates a layered compliance environment. While US investors receive information through filings submitted to the Securities and Exchange Commission, Australian investors and market participants receive corresponding disclosures through the ASX's own regulatory framework. The company uses current report filings to bridge these two systems, ensuring that information provided to Australian markets is simultaneously made available to US market participants in a timely manner.

This approach is consistent with the principle of broad, equitable disclosure that underpins modern securities regulation in both jurisdictions. By attaching ASX-submitted materials as exhibits and filing them concurrently with US regulators, News Corporation ensures that investors across both markets have access to the same underlying information. This transparency is particularly relevant for a share repurchase program, given that buyback activity can influence supply and demand dynamics for a company's stock in ways that are material to investors on both exchanges.

Quarterly and Annual Reports as the Primary Source for Cumulative Buyback Data

While the daily ASX disclosures provide granular, transaction-level data on individual repurchase activity, the filing makes clear that the broader picture of the Repurchase Program is conveyed through News Corporation's quarterly and annual reports. These periodic filings are where investors can track the cumulative number of shares repurchased, the average prices paid, and the remaining dollar amount available under the $1 billion authorization. The current report does not itself provide those aggregate figures.

Investors monitoring the pace of the buyback program would therefore need to refer to News Corporation's most recent quarterly or annual report to assess how much of the $1 billion authorization has been deployed and how much remains. The filing does not indicate when the current repurchase program was originally authorized, nor does it specify any expiration date for the remaining buyback capacity. The company did not disclose these details in this particular report, directing interested parties to prior and forthcoming periodic disclosures for a more complete picture.

Signatory and Corporate Authorization for the July 15, 2026 Report

The current report was signed on behalf of News Corporation by Michael L. Bunder, identified in the filing as Senior Vice President, Deputy General Counsel and Corporate Secretary. The report is dated July 15, 2026, one day after the repurchase transactions referenced in the attached ASX exhibits, which are dated July 14, 2026. This one-day lag reflects the practical timeline of preparing, reviewing, and submitting disclosure materials across multiple regulatory jurisdictions.

The signatory's role as Deputy General Counsel and Corporate Secretary is consistent with routine corporate filings of this nature, which do not typically require sign-off from the Chief Executive Officer or Chief Financial Officer unless they contain financial statements or major corporate events. The filing falls under Item 8.01, designated as "Other Events," reinforcing that this disclosure is a procedural update related to an ongoing program rather than a new material corporate development or strategic announcement. No other executive officers or directors are named in connection with this report.

News Corporation's Corporate Profile and Nasdaq Listing Context

News Corporation is incorporated in the state of Delaware and maintains its principal executive offices at 1211 Avenue of the Americas, New York, New York 10036. The company operates as a diversified global media and information services business, with assets spanning digital real estate services, subscription video services in Australia, news and information services, and book publishing, among other segments. Its dual-class share structure and cross-listed status in both the US and Australia reflect the company's international footprint and shareholder base.

As of the filing date, News Corporation is not classified as an emerging growth company under applicable US securities regulations, as confirmed by the checked boxes within the report. The company's IRS Employer Identification Number is listed as 46-2950970, and its Commission File Number is 001-35769. These details confirm the registrant's identity and regulatory standing. The immediate share price impact of this particular disclosure was not clear from available public information, as share repurchase activity disclosures of this routine nature do not always generate immediate market reactions.