By Anna Prior
21st Century Fox Inc. (FOX, FOXA) shareholders on Friday
approved the entertainment company's plan to delist from the
Australian Securities Exchange, as it simplifies its operating
structure.
The company plans to file its request to delist on March 24. If
approved, the delisting is expected to occur on or around May 8,
21st Century Fox said.
Once the company is delisted from the exchange, all 21st Century
Fox's Class A and Class B shares will be listed solely with Nasdaq
OMX Group Inc. (NDAQ), Fox said.
21st Century Fox in January had said it planned to delist to
simplify its operating structure and cut compliance costs. The move
follows last June's split of News Corp. (NWSA) into two companies,
21st Century Fox and a company retaining the News Corp. (NWS) name
that holds print media businesses including The Wall Street Journal
as well as various Australian media assets.
The company also said in January that the delisting would
consolidate trading to one exchange and reduce the company's
reporting costs because it only would have to comply with one
securities regulator.
Write to Anna Prior at anna.prior@wsj.com
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