Australian Federal Court Approves News Corporation Reincorporation to United States.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- News Corporation: --Stock Begins Trading on NYSE NYSE See: New York Stock Exchange Under Ticker Symbols NWS-W and NWS NWS National Weather Service NWS Naval Weapons Station NWS New World Symphony NWS Nuclear Weapon State NWS Not Work Safe NWS National Watercolor Society NWS North Warning System NWS Nose Wheel Steering NWS National Waste Strategy (UK) .A-W Until Regular-Way Trading Begins on November 12; CDIs To Commence Deferred Settlement Trading Thursday on ASX ASX See: Australian Stock Exchange Under Ticker Symbols NWS and NWSLV News Corporation today announced that it has received Federal Court of Australia The Federal Court of Australia is the Australian court in which most civil disputes, and some summary criminal matters, governed by federal law are decided. Cases are heard at first instance by single Judges. approval for its proposal to reincorporate Re`in`cor´po`rate v. t. 1. To incorporate again. from Australia to the United States. The proposal was approved by an overwhelming majority of shareholders at a series of meetings in Adelaide, Australia, last week. The reincorporation transaction is expected to be completed on November 12. As a result, in the United States: --News Corporation's ADSs ceased trading on the NYSE at the close of business on November 2 (New York-time). Each ADS will be replaced by two shares of Class A (Non-Voting) or Class B (Voting) Common Stock of News Corporation. --News Corporation Class A (Non-Voting) and Class B (Voting) Common Stock commenced trading on the NYSE on a when-issued basis this morning. The ticker symbols are NWS-W and NWS.A-W until the stock trades on a regular-way basis on November 12, at which point the ticker symbols will revert to NWS and NWS.A. In Australia: --News Corporation Ordinary and Preferred Shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. ceased trading on the ASX at the close of business on November 3 (Sydney-time). Australian shareholders will receive CDIs, each representing one share of Common Stock, for every two Ordinary and Preferred Shares. --CDIs will commence trading on the ASX on November 4 on a deferred settlement basis under the ticker symbols NWS and NWSLV. News Corporation CDIs will commence trading on the ASX on a normal basis on November 19. The News Corporation Limited had total assets as of June 30, 2004 of approximately US$52 billion and total annual revenues of approximately US$20 billion. News Corporation is a diversified international media and entertainment company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; magazines and inserts; newspapers; book publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and the Pacific Basin. For more information about News Corporation, please visit www.newscorp.com. |
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