News Corporation Advances $1 Billion Buyback as Institutional Stakes Shift

News Corporation has disclosed routine exchange notifications concerning its authorized capital reduction initiative, confirming that repurchases remain focused exclusively on its United States listings. According to company disclosures reported by Kalkine Media, the program covers Class A and Class B common stock listed on the Nasdaq, while CHESS Depositary Interests listed on the Australian Securities Exchange are excluded from buybacks.

TradingView reported that on Nov. 6, News Corp purchased 40,961 shares for about $1.12 million under its broader $1 billion repurchase plan. That single-day transaction included 28,539 Class A shares bought for $754,208.71 and 12,422 Class B shares bought for $362,018.07. To date, approximately $574.4 million of the $1 billion authorization has been utilized, with the company noting that transactions are intended to boost shareholder value depending on prevailing market conditions.

Recent regulatory disclosures also reveal notable portfolio adjustments by institutional investors during the third quarter. MarketBeat reported that Asset Management One Co. Ltd. trimmed its stake in News Corp by 96.1%, selling 155,219 shares to retain 6,378 shares valued at roughly $202,000. Nisa Investment Advisors LLC cut its position by 98.2% after disposing of 214,335 shares, leaving it with 3,827 shares worth about $122,000. In addition, the State of Alaska Department of Revenue reduced its holdings by 76.3%, offloading 36,269 shares and retaining 11,290 shares worth $358,000. Overall, hedge funds and institutional entities hold 14.63% of the outstanding stock.

On the operational front, News Corp announced quarterly financial results on Wednesday, November 4th, posting earnings per share of $0.28, which surpassed consensus forecasts of $0.26 by $0.02. Revenue for that period reached $2.22 billion, coming in slightly under the $2.27 billion consensus estimate. Sell-side analysts tracked by MarketBeat anticipate that the company will generate $1.31 in earnings per share for the full fiscal year.

Wall Street opinions on the media and publishing company remain divided. Weiss Ratings upgraded the stock from a "buy (b-)" to a "buy (b)" on Monday, October 26th, while Zacks Research lowered its view from "strong-buy" to "hold" on Monday, October 5th. Based on MarketBeat data, the company carries a consensus rating of "Moderate Buy," supported by one Buy rating and one Hold rating.