News Corp. Buys Back Shares in Effort to Stem Stock Drop

After the recent drubbing of News Corp.’s shares following its phone hacking scandal, the New York-based media conglomerate on Tuesday approved a $5 billion share buyback program.
News Corp. Buys Back Shares in Effort to Stem Stock Drop
BUY BACK: News Corp. announced Tuesday a stock buyback of $5 billion, over the next 12 months in the wake of a scandal with its British tabloid News of the World allegedly hacking civilians' phones in order to access confidential information. William West/Getty Images
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NEWS ANALYSIS

<a href="https://www.theepochtimes.com/assets/uploads/2015/07/newsCorpLogo_51571426_medium.jpg"><img src="https://www.theepochtimes.com/assets/uploads/2015/07/newsCorpLogo_51571426_medium.jpg" alt="BUY BACK: News Corp. announced Tuesday a stock buyback of $5 billion, over the next 12 months in the wake of a scandal with its British tabloid News of the World allegedly hacking civilians' phones in order to access confidential information. (William West/Getty Images)" title="BUY BACK: News Corp. announced Tuesday a stock buyback of $5 billion, over the next 12 months in the wake of a scandal with its British tabloid News of the World allegedly hacking civilians' phones in order to access confidential information. (William West/Getty Images)" width="320" class="size-medium wp-image-129065"/></a>
BUY BACK: News Corp. announced Tuesday a stock buyback of $5 billion, over the next 12 months in the wake of a scandal with its British tabloid News of the World allegedly hacking civilians' phones in order to access confidential information. (William West/Getty Images)
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