Murdoch To Move News Corp to the NYSE

Australian-born Rupert Murdoch, who became an American citizen in order to acquire television stations in the U.S. (which by law may only be owned by U.S. citizens), now intends to move the primary stock listing of his media company, News Corp, to the New York Stock Exchange (NYSE) from the Australian Stock Exchange (ASX). Speaking to investors Monday, News Corp CFO David DeVoe pointed out that as an Australian company, News Corp is off-limits to some U.S. investors who are barred from investing in companies based overseas. The move, he said, would allow the company to increase the scope and depth of its shareholder base.
2004-04-20 23:08:58