Another landmark moment for Rupert Murdoch's British enterprise - News Corp is withdrawing from the London stock exchange. The company will be delisted on 28 June, the date set for its split into two separate businesses.
According to its statement, News Corp - which is also listed in New York and Australia - made the decision because so few shares are traded in London, accounting for less than 1% of the total trade worldwide.
After the split, the name News Corp will be retained by the newspaper and book publishing part of the current company along with Australian TV assets and its fledgling education unit, Amplify.
The main newspapers inside new News Corp will be The Times, Sunday Times, The Sun, the Wall Street Journal, New York Post, The Australian and several metropolitan titles in Australia.
The entertainment side, with US TV and movie assets, will use the name 21st Century Fox.
Though shareholders have yet to vote on the split, they are expected to do so at a meeting on 11 June.
Murdoch, who will be executive chairman, appears to relish the challenge of running his new publishing division. He told investors at a New York meeting: "I have been given an extraordinary opportunity most people never get in their lifetime: the chance to do it all over again."
Sources: Reuters/Emphasis Search
