News Corp to cancel London listing because of low volumes

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Rupert Murdoch’s News Corp media empire is to cancel its listing on the London Stock Exchange before the end of next month.

The company said the volume of its shares traded in London was less than 1 per cent of the global total, and the cancellation will take effect on 28 June – the same date as it separates into two publicly-traded companies.

New York-based News Corp is splitting its cable channels, movie studio and other entertainment assets from its newspapers, including The Sun, Times and Wall Street Journal. The new publishing company will retain the News Corp name, while the entertainment assets, including the Fox broadcasting network, will be known as 21st Century Fox.

Shares in both companies will be traded in New York and Australia.