News Corp to list its US shares on NASDAQ

by John Reynolds, mediaweek.co.uk 17-Dec-08, 14:15

LONDON - Rupert Murdoch's News Corporation is to move its US share listing from the New York Stock Exchange to NASDAQ, claiming the switch will ensure its shareholders have access "to the most current trading technology possible".

The move, effective from 29 December, brings an end to News Corporation’s 22-year listing on the New York Stock Exchange.

Reed Nolte, senior vice-president, investor relations at News Corporation, said: "We are confident that NASDAQ’s broad offerings and exceptional service, coupled with a cost-effective structure, will provide more value for our stockholders."

The move comes as NASDAQ looks to lure bigger companies to its market, attracting them with lower listing fees.

News Corporation’s businesses include 20th Century Fox, MySpace and UK national newspapers The Times and The Sun. In August this year, News Corp also purchased Dow Jones & Company, publisher of The Wall Street Journal.