Rupert Murdoch's Fox says goodbye to Australia
Thursday 09 January 2014
Rupert Murdoch’s flagship media business, the TV and film giant, 21st Century Fox, plans to cut its links with his native land by delisting from the Australian stock market.
Fox will keep its primary listing on New York’s Nasdaq as part of what Murdoch called “our ongoing agenda to simplify the operating and capital structure”.
Murdoch said the move will boost liquidity and improve voting rights for foreign investors.
Non-US shareholders’ rights are limited at present because American TV regulators restrict foreign ownership of channels to 25 per cent.
The delisting follows Fox’s split from Murdoch’s troubled newspaper division, News Corporation, last June in the wake of the phone-hacking scandal in London.
Fox has “only limited operations” in Australia as News Corp controls Murdoch’s local interests, including TV.
The Simpsons and X-Men are among Fox’s hit US TV shows and films and it is also the top shareholder in British pay-TV giant BSkyB.
- 1 Should Apple buy Greece?
- 2 Michael Douglas regrets 'embarrassing' Catherine Zeta-Jones with oral sex comments
- 3 Drummer Lee Rigby's family reject 'extremist' groups using Woolwich murder for political gain
- 4 Tunisia hotel attack: Locals form 'human shield' to protect hotel from gunman Seifeddine Rezgui
The moment a Queen's Guard soldier lost it and drew his gun at annoying tourist
Greece crisis: The wider lesson is that it’s time to abandon this failed experiment in currencies
'I wish the BBC would stop calling it Islamic State' – David Cameron unleashes frustration at broadcaster
Extend Right To Buy to tenants of private landlords, Labour's Jeremy Corbyn says
David Cameron struck double blow in his hopes to win Britain a new EU deal
Pentagon accuses Russia of 'playing with fire' over nuclear threats towards Nato
iJobs Money & Business
£22500 - £27000 per annum + OTE £45K: SThree: Since our inception in 1986, STh...
Negotiable: Recruitment Genius: This extremely successful and well-established...
Competitive with monthly bonus: Guru Careers: We are seeking an experienced FX...
Competitive (Freelance) : Guru Careers: An Investment Writer / Stock Picker is...