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News Corp. Board Oks Plan to Move to U.S.

IN BRIEF / MEDIA

August 11, 2004|From Bloomberg News

News Corp. said its board unanimously endorsed the company's plan to shift headquarters to the U.S. from Australia, making it easier to attract investors in the world's largest economy.

News Corp. shareholders will get one share in the U.S.-based company for every two shares they now own, the Sydney-based company said in a statement to the Australian Stock Exchange.

News Corp. will have its primary listing in New York and secondary listings in Sydney and London.

The plan will be presented to the Australian Securities and Investments Commission and the Australian Federal Court for approval, before shareholders vote on the proposal later this year, the company said.

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