Cybersecurity
News Corp. Boosts Stock Buyback to $5 Billion Amid Probe
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News Corp., whose stock has dropped for four days amid a probe into alleged phone hacking by the company’s U.K. journalists, almost tripled its stock-buyback program to $5 billion.
The company plans to repurchase Class A and Class B shares from time to time over the next 12 months, according to an e-mailed statement today. News Corp. had $1.8 billion remaining under a previous buyback program.