News Corp sets new $1 billion stock-buyback program

Shares of News Corp /zigman2/quotes/204787942/composite NWS +0.42% rose 0.6% in premarket trading Wednesday as the media and information services company said it has authorized a $1 billion stock-repurchase program. The new program replaces the $500 million program authorized in May 2013, of which there was $429 million remaining to be bought as of July 30 . The new program, which the company said has no time limit, represents about 7.8% of News Corp's market capitalization of $12.83 million as of Tuesday's close, according to FactSet. News Corp's stock has lost 10.1% over the past three months through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.74% has gained 2.5%. News Corp is the parent of MarketWatch publisher Dow Jones.

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News Corp Cl B

US : U.S.: Nasdaq

$ 23.97

+0.10 +0.42%

Volume: 525,841

Oct. 19, 2021 4:00p

P/E Ratio

43.07

Dividend Yield

0.83%

Market Cap

$13.98 billion

Rev. per Employee

$389,917

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S&P 500 Index

US : S&P US

4,519.63

+33.17 +0.74%

Volume: 1.70B

Oct. 19, 2021 5:05p