India, July 15 -- News Corp. (NWS,NWSA) Tuesday said it has authorized a new $1 billion stock repurchase program.
The program is in addition to the existing $1 billion program authorized in September 2021, of which $303 million remains outstanding.
The company said it intends to begin executing share repurchases at an accelerated rate following the fiscal 2025 fourth quarter earnings release in early August.
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The company intends to repurchase, from time to time, in the open market or otherwise, a combination of the company's Class A common stock and Class B common stock.
"We believe our stock is trading at a significant discount to its intrinsic value, ...