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Sept. 22, 2021, 9:26 a.m. EDT

News Corp sets new $1 billion stock-buyback program

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By Tomi Kilgore

Shares of News Corp /zigman2/quotes/204787942/composite NWS -1.43% 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 +0.25% has gained 2.5%. News Corp is the parent of MarketWatch publisher Dow Jones.

/zigman2/quotes/204787942/composite
US : U.S.: Nasdaq
$ 20.71
-0.30 -1.43%
Volume: 1.32M
Jan. 27, 2023 4:00p
P/E Ratio
26.25
Dividend Yield
0.97%
Market Cap
$11.85 billion
Rev. per Employee
$406,314
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/zigman2/quotes/210599714/realtime
US : S&P US
4,070.56
+10.13 +0.25%
Volume: 0.00
Jan. 27, 2023 5:10p
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