RTTNews | Sep 22, 2021 09:16AM EDT

09:15 Wednesday, September 22, 2021 (RTTNews.com) - News Corp. (NWSA, NWS) said its Board has authorized a $1 billion stock repurchase program. This stock buyback program replaces the $500 million class A common stock repurchase program approved by the Board in May 2013. The company plans to begin to execute on the repurchase program following the first-quarter earnings release in early November.

The Board's authorization follows the termination of the company's stockholder rights agreement, and the execution of a stockholders agreement by and between the company and the Murdoch Family Trust. The stockholders agreement provides that the Trust and the company will not take actions that would result in the Trust and Murdoch family members together owning more than 44% of the outstanding voting power of the class B common stock. The stockholders agreement will terminate upon the Trust's distribution of all or substantially all of its class B common stock.

Read the original article on RTTNews ( https://www.rttnews.com/3227485/news-corp-to-launch-buyback-program-terminates-stockholder-rights-agreement.aspx)

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