News Corp announced Wednesday that, as a result of booming revenues, the company is “returning proceeds to shareholders,” ceo Robert Thomson said during the Goldman Sachs Communacopia Conference. Since 2020 was “the best year since the reincarnation of News Corp in 2013,” with EBITDA up 26 percent, the board of directors has authorized a new $1 billion stock repurchase program. This plan replaces a $500 million stock repurchase program that went into effect in 2013. News Corp’s stock had gone down 10.1 percent over the past three months, and rose 0.6 percent after this announcement. At the Communacopia Conference, Thomson […]
