News Corp To Move Listing To Nasdaq From NYSE
"Our move to Nasdaq will ensure that our stockholders have access to the most current trading technology possible," said Reed Nolte, senior vice president of investor relations. "We are confident that Nasdaq's broad offerings and exceptional service, coupled with a cost-effective structure, will provide more value for our stockholders."
The media giant's move highlights the cutthroat competition among exchanges for marquee listings. Historically, the New York Stock Exchange has been the most prestigious of the U.S. exchanges, but that perception has eroded with the ascendance of the technology companies on Nasdaq. Many companies are also drawn by Nasdaq's lower costs.
Class A shares of News Corp. will trade under NWSA when the move is effective Dec. 29, and Class B shares will trade under NWS.
News Corp. owns Dow Jones & Co., publisher of this newswire.
Class B shares of News Corp. closed the regular session up 7.3% at $8.92. The shares didn't trade after hours.
-By Jay Miller, Dow Jones Newswires; 201-938-2331; jay.miller@dowjones.com
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Publié le 16 Décembre 2008 Copyright © 2008 Dowjones
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