News Corp to cancel LSE listing

News Corp has confirmed it is going to pull out of the London Stock Exchange (LSE).

It was announced by the company that the effective date of the delisting is going to be June 28th and the firm explained it made the decision due to a lack of activity.

Rupert Murdoch's company said the volume of its stock traded on the LSE was less than one per cent of the total globally, so it is no longer worth the organisation being listed on the index.

It was also announced by the New York-based company that it is separating its cable channels, movie studio and other entertainment assets from its newspapers, which include the Wall Street Journal. Entertainment assets – such as the Fox broadcasting network – will be known as 21st Century Fox going forward.

On the back of the news the company is going to pull out of the London Stock Exchange, its shares were down slightly over the course of yesterday's (May 30th) trading session.

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