Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

News Corporation’s Class A Common Stock and Class B Common Stock are listed and traded on The Nasdaq Global Select Market (“Nasdaq”), its principal market, under the symbols “NWSA” and “NWS,” respectively. CHESS Depositary Interests (“CDIs”) representing the Company’s Class A Common Stock and Class B Common Stock are listed and traded on the Australian Securities Exchange (“ASX”) under the symbols “NWSLV” and “NWS,” respectively. As of August 1, 2025, there were approximately 12,700 holders of record of shares of Class A Common Stock and 300 holders of record of shares of Class B Common Stock.

Dividends

For information regarding dividends, see Note 12—Stockholders' Equity in the accompanying Consolidated Financial Statements.

Issuer Purchases of Equity Securities

On September 22, 2021, the Company announced a stock repurchase program authorizing the Company to purchase up to $1 billion in the aggregate of the Company’s outstanding Class A Common Stock and Class B Common Stock (the “2021 Repurchase Program”). The remaining authorized amount under the 2021 Repurchase Program as of June 30, 2025 was approximately $310 million.

Stock repurchases under the 2021 Repurchase Program commenced on November 9, 2021. The following table summarizes the shares repurchased and subsequently retired and the related consideration paid during the fiscal years ended June 30, 2025, 2024 and 2023:


	For the fiscal years ended June 30,
	2025			2024			2023
	Shares	Amount		Shares	Amount		Shares	Amount
	(in millions)
Class A Common Stock	3.5	$	97	3.4	$	79	9.5	$	159
Class B Common Stock	1.8	53		1.6	38		4.7	81
Total	5.3	$	150	5.0	$	117	14.2	$	240

The following table details the Company’s monthly share repurchases during the three months ended June 30, 2025:


	Total Number of Shares Purchased - Class A(a)	Total Number of Shares Purchased - Class B(a)	Average Price Paid Per Share - Class A(b)		Average Price Paid Per Share - Class B(b)		Total Number of Shares Purchased as Part of Publicly Announced Program	Dollar Value of Shares That May Yet Be Purchased Under Publicly Announced Program(b)
	(in millions, except per share amounts)
March 31, 2025 - April 27, 2025	0.3	0.2	$	25.93	$	29.75	0.5	$	334
April 28, 2025 - June 1, 2025	0.3	0.2	$	27.90	$	32.34	0.5	$	320
June 2, 2025 - June 29, 2025	0.2	0.1	$	28.22	$	32.43	0.3	$	310
Total	0.8	0.5	$	27.35	$	31.52	1.3

(a)The Company has not made any repurchases of Common Stock other than in connection with the publicly announced 2021 Repurchase Program described above.

(b)Amounts exclude taxes, fees, commissions or other costs associated with the repurchases.

On July 15, 2025, the Company announced a new stock repurchase program authorizing the Company to purchase up to $1 billion in the aggregate of the Company’s outstanding Class A Common Stock and Class B Common Stock (the “2025 Repurchase Program” and, together with the 2021 Repurchase Program, the “Stock Repurchase Programs”), which is in addition to the remaining authorized amount under the 2021 Repurchase Program.

The manner, timing, number and share price of any repurchases under the Stock Repurchase Programs will be determined by the Company at its discretion and will depend upon such factors as the market price of the stock, general market conditions, applicable securities laws, alternative investment opportunities and other factors. The Stock Repurchase Programs have no time limit and may be modified, suspended or discontinued at any time.

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