News Corp. to Buy Back $3B in Stock


News Corp. stock rose Monday morning after the company announced that its board had authorized the repurchase of $3 billion in class-A and class-B common stock.

Expected to be completed within two years, News Corp. said the repurchases will be made through open-market transactions. The company added that it may suspend or discontinue the program at any time.

News Corp. stock was trading at $17.31 per share at noon (EST) Monday, up 43 cents, or 2.55%.