News Corp to cancel listing on LSE

News Corporation will cancel its listing on the Official List and admission to trading on the London Stock Exchange (LSE) as the media giant plans to split into two publicly traded companies.

News Corporation will cancel its listing on the Official List and admission to trading on the London Stock Exchange (LSE) as the media giant plans to split into two publicly traded companies.

The group decided to remove its common stock, which includes class A non-voting and class B voting shares, after determining it represents less than 1.0% of its total trading volume world-wide.

The de-listing will coincide with its intention to separate the business into two independent companies on June 28th.

The publishing firm will retain the News Corporation brand, while the other will be renamed 21st Century Fox.

Following the proposed separation, the company will continue to list on the NASDAQ Global Select Market and on the Australian Securities Exchange.

The new News Corporation, the new public company which will hold the company's newspapers, information services and integrated marketing services, digital real estate services, book publishing, digital education and sports programming and pay-TV distribution in Australia, intends to apply to have both its class A and class B common stock authorized for listing on NASDAQ.

News Corporation announced last year that it was separating its entertainment and publishing businesses, partly as a result of the UK phone-hacking scandal in 2011.

Journalists gained illegal access to the phone messages of many well-known people which led to the demise of the News of the World newspaper.

RD

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