News Corp expands share buy-back program with additional $1bn authorization

News Corporation (ASX:NWS) today announced an update to its ongoing share buy-back program, originally authorized on September 21, 2021, with an additional $1 billion authorized as of July 15, 2025. The program allows for the repurchase of up to an aggregate of $2 billion of the company's Nasdaq-listed Class A and Class B common stock. As of October 31, 2025, the company had repurchased approximately $851,302,250 worth of shares under the 2021 Repurchase Program.

On October 31, 2025, News Corporation bought back 30,471 Class B common stock securities, bringing the total number of Class B shares bought back to 12,631,238. The highest price paid on that day was $30.56, and the lowest was $30.19. These shares, valued at $926,117.29 for the day, will be cancelled, reducing the number of unquoted Class B common stock on issue to 145,359,080.

The buy-back, facilitated by Goldman Sachs & Co. LLC, is an "Other buy-back" type and aims to enhance shareholder value. No security holder approval is required, and there are no restrictions on foreign participation. The cessation of 152,355 Class B common stock (NWSAB) due to cancellation was also confirmed today, October 31, 2025.