News Corp share buyback hits $1bn in first month

Steve Dinneen
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NEWS Corp bought back more than $1bn (£637m) of its shares in the last month as it seeks to improve relations with its shareholders.

The transactions are part of a wider $5bn buyback scheme announced in the wake of News Corp’s failed bid for the 61 per cent of BSkyB it does not own.

Meanwhile, the firm’s phone hacking headache got even worse yesterday after investigators in the US requested information from the firm over whether it paid bribes to UK police for information.

It is already facing a probe in the US over whether newspapers owned by the company attempted to access the voicemails of 9/11 victims.

The investigations come on top of police scrutiny in the UK over whether bribes were paid to serving police officers and the ongoing probe into phone hacking.