The split of News Corp. into two separate media companies
was completed on Friday.
Effective at 4:30 p.m. ET, News Corp. became 21st Century
Fox and spun off to stockholders' shares and a new News Corp., which owns the
company's publishing assets and some businesses in Australia.
21st Century Fox's assets include Fox Broadcasting; cable
channels FX, Fox News Channel and Fox Sports 1; 20th Century Fox Film; 20th Century Fox Television; and Shine Group.
"21st Century Fox launches as a unique force bringing news
and entertainment to more than a billion customers every day in over 100
languages," Rupert Murdoch, chairman and CEO of 21st Century Fox, said in a
statement. "Our success will continue to be rooted in a deep belief in
originality and a commitment to empowering creative minds and entrepreneurs
around the world. Our management teams are the best in the business and we will
drive growth and shareholder value by expanding our existing assets and brands,
while embracing new opportunities and technology."
Monday, 21st Century Fox's common stock will begin regular trading on NASDAQ
market using the symbols FOXA for class A shares and Fox for class B shares.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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