On Monday, News Corp and 21st Century Fox began trading off. Being separate companies enabled them to give investors a choice. The selection was between a fast-growing entertainment firm and a slow-growing but famous publishing enterprise.
The new News Corp initiated trading last June 19 on a preliminary basis. Every class A shares was worth US$15.28. The corporation owns an education division and publishing assets. The Wall Street Journal and HarperCollins were its well-known publications.
On the other hand, 21st Century Fox traded at $28.07 per Class A shares. The firm's assets were comprised of Fox cable network and the 20th Century Fox movie studio.
News Corp used the symbol NWSA when it began trading on Nasdaq. Consequently, 21st Century Fox traded under the name FOXA. It also used the same exchange.
The stockholders of the old News Corp obtained one stock in the latest publishing firm. One share for every four shares in the new 21st Century Fox was the deal.
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