News Corp to Acquire Remaining NYT Stake for $1B

TL;DR

News Corp buying out the rest of NYT for $1B. Big media consolidation incoming.

AI Summary

News Corp announced on November 26, 2024, that it has entered into a definitive agreement to acquire the remaining 50% stake in The New York Times Company for $1.0 billion. This acquisition is expected to close in the first quarter of 2025, subject to customary closing conditions.

Why It Matters

This significant acquisition by News Corp could reshape the media landscape, consolidating ownership of a major news publication and potentially impacting its editorial direction and financial performance.

Risk Assessment

Risk Level: medium — The acquisition involves a substantial financial commitment and potential integration challenges, alongside market reception and regulatory scrutiny.

Key Numbers

• $1.0 billion — Acquisition Price (Total cost for the remaining 50% stake in The New York Times Company.)

Key Players & Entities

• News Corp (company) — Registrant
• The New York Times Company (company) — Target of acquisition
• $1.0 billion (dollar_amount) — Acquisition price
• November 26, 2024 (date) — Announcement date
• first quarter of 2025 (date) — Expected closing period

FAQ

Key Financial Figures

• $0.01 — stered Class A Common Stock, par value $0.01 per share NWSA The Nasdaq Global Select
• $1 billion — ized to acquire from time to time up to $1 billion in the aggregate of the Company's outst

Filing Documents

• nws-20241126.htm (8-K) — 35KB
• appendix3cclassa11262024.htm (EX-99.1) — 68KB
• appendix3cclassb11262024.htm (EX-99.2) — 68KB
• nws-20241126_g1.jpg (GRAPHIC) — 26KB
• 0001564708-24-000634.txt ( ) — 399KB
• nws-20241126.xsd (EX-101.SCH) — 2KB
• nws-20241126_def.xml (EX-101.DEF) — 15KB
• nws-20241126_lab.xml (EX-101.LAB) — 26KB
• nws-20241126_pre.xml (EX-101.PRE) — 16KB
• nws-20241126_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events. As previously reported, under News Corporation's (the "Company's") stock repurchase program (the "Repurchase Program"), the Company is authorized to acquire from time to time up to $1 billion in the aggregate of the Company's outstanding shares of Class A common stock and Class B common stock. Under the rules of the Australian Securities Exchange (the "ASX"), the Company is required to provide to the ASX, on a daily basis, disclosure of transactions pursuant to the Repurchase Program, if any. The Company also discloses information concerning the Repurchase Program in the Company's quarterly and annual reports. Attached as Exhibit 99.1 and Exhibit 99.2 are copies of the information provided to the ASX on the respective dates noted therein. Such information contains " forward-looking statements " within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the Company's intent to repurchase, from time to time, the Company's Class A common stock and Class B common stock. These statements are based on management's current expectations and beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by such statements due to, among other factors, changes in the market price of the Company's stock, general market conditions, applicable securities laws and alternative investment opportunities, as well as the risks, uncertainties and other factors described in the Company's filings with the Securities and Exchange Commission. The " forward-looking statements " included in such information are made only as of the date of this report. We do not have and do not undertake any obligation to publicly update any " forward-looking statements " to reflect subsequent events or circumstances, and we expressly disclaim any such obligation, except as required by law or regulation.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Information provided to the Australian Securities Exchange on the date noted on Exhibit 99.1. 99.2 Information provided to the Australian Securities Exchange on the date noted on Exhibit 99.2. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NEWS CORPORATION (REGISTRANT) By: /s/ Michael L. Bunder Michael L. Bunder Senior Vice President, Deputy General Counsel and Corporate Secretary Dated: November 27, 2024

View Full Filing

View this 8-K filing on SEC EDGAR