21st Century Fox Announces Completion of Separation

By afaqs! news bureau , afaqs!, Mumbai | In Media Publishing
Last updated : September 25, 2014 04:04 PM
Premier brands of industry leading media and entertainment companies include Twentieth Century Fox, FOX, Sky, National Geographic, Fox News, STAR, Fox Sports, and FX.

21st Century Fox, formerly known as News Corporation, announced today that it has completed the previously announced separation of its business into two independent publicly-traded companies. Effective as of 4.30 pm ET today, the company distributed to its stockholders all outstanding shares of the new News Corporation.

Rupert Murdoch

21st Century Fox's world renowned media and entertainment assets span a global portfolio of cable and broadcasting properties including FOX, FX, Fox News Channel, Fox Sports Network, National Geographic Channels, STAR, Fox Pan American Sports, as well as film studio Twentieth Century Fox Film and television production studios Twentieth Century Fox Television and Shine Group. The company's assets also include leading pay-tv businesses Sky Deutschland, Sky Italia and its equity interests in BSkyB and Tata Sky.

"21st Century Fox launches as a unique force bringing news and entertainment to more than a billion customers every day in over 100 languages," said Rupert Murdoch, chairman and CEO of 21st Century Fox. "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."

Beginning July 1, 2013, 21st Century Fox's Class A Common Stock and Class B Common Stock will begin regular-way trading on the NASDAQ Global Select Market under the symbols "FOXA" and "FOX," respectively, and beginning July 2, 2013, the CHESS Depositary Interests representing 21st Century Fox's Class A Common Stock and Class B Common Stock will begin to trade on the Australian Securities Exchange under the symbols "FOXLV" and "FOX," respectively.

The distribution of all shares of the new News Corporation was based on a distribution ratio of one share of the new News Corporation Class A Common Stock or Class B Common Stock for every four shares of the Company's Class A Common Stock or Class B Common Stock, respectively.

21st Century Fox's portfolio comprises cable, broadcast, film, pay TV and satellite assets spanning six continents across the globe.

First Published : September 25, 2014 04:04 PM
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