Investing
News Corp Plans To Buy $5 Billion In Stock, Shares Soars
Published:
Last Updated:
News Corp (NYSE: NWS) has filed a document with the SEC that says it will buy in as may as $5 billion of its shares. The market cap of the company has dropped $7 billion over the last four days to to a phone hacking and bribery scandal which originated at the new shutter News of the World.
On July 12, 2011, News Corporation (the “Company”) issued a press release announcing that its Board of Directors has approved a stock repurchase program totaling $5 billion. The Company is targeting to acquire the $5 billion of Class A common stock and Class B common stock from time to time over the next 12 months.
The rapid rise in the share price is an indication that Wall St. believes shares are cheap at the current level.
Douglas A. McIntyre
Essential Tips for Investing: Sponsored
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
