News Corp. One Step Closer to U.S.

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The Australian Federal Court approved News Corp.’s request to convene meetings of shareholders to vote on its proposed reincorporation from Australia to the United States.

News Corp. filed an information memorandum and an independent expert's report backing the proposal with the Australian Stock Exchange Wednesday, and they will be mailed to shareholders within the next two weeks.

The company said shareholder meetings will be held immediately after its annual general meeting in Adelaide, Australia, Tuesday, Oct. 26.

If the proposal is approved, News Corp. will be reincorporated in the United States and its primary listing will move from the ASX to the New York Stock Exchange. It will retain secondary listings on the ASX and on the London Stock Exchange.

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