News Corp Begins Executing On Stock Buyback Program
11 Maggio 2015 - 1:58AM
Business Wire
News Corp announced today that it has begun repurchasing shares
of Class A Common Stock under its previously disclosed buyback
program.
This marks the first time the company has bought back stock
under the program since the "new" News Corp was established as
a separate, publicly-traded company in mid-2013.
"We had indicated to investors that we needed two years to set
the new News firmly on a digital and global course, and are
confident that the substantial progress made thus far enables us to
take this positive action ahead of schedule," said News Corp Chief
Executive Robert Thomson. "The development of our print businesses,
the prudent extension of our portfolio and the stewardship of our
resources mean that we are able to consider our capital allocation
options from a position of strength. Our buyback program is
clearly a vote of confidence in the company's prospects and its
potential."
Future repurchases, if any, will depend on the company’s
liquidity and cash flow, as well as general market conditions and
other considerations.
Since the separation of News Corporation into two companies in
2013, News Corp has pursued a strategy of digital and global
growth, and has created a diverse line of businesses, bolstered by
such acquisitions as Harlequin and Move, Inc.
Forward-Looking Statements
This document contains certain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on management’s views and
assumptions regarding future events and business performance as of
the time the statements are made. Actual results may differ
materially from these expectations due to changes in global
economic, business, competitive market and regulatory and other
factors. More detailed information about these and other factors
that could affect future results is contained in News Corp’s
filings with the Securities and Exchange Commission. The
“forward-looking statements” included in this document are made
only as of the date of this document and we do not have any
obligation to publicly update any “forward-looking statements” to
reflect subsequent events or circumstances, except as required by
law.
About News Corporation
News Corporation (NASDAQ: NWS, NWSA; ASX: NWS,
NWSLV) is a global, diversified media and information services
company focused on creating and distributing authoritative and
engaging content to consumers throughout the world. The
company comprises businesses across a range of media, including:
news and information services, book publishing, cable network
programming in Australia, digital real estate services, digital
education, and pay-TV distribution in Australia. Headquartered
in New York, the activities of News Corporation are conducted
primarily in the United States, Australia, and the United Kingdom.
More information is available at: www.newscorp.com.
News CorpInvestor RelationsMichael Florin,
212-416-3363mflorin@newscorp.comorCorporate CommunicationsJim
Kennedy, 212-416-4064jkennedy@newscorp.com
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