Divided News Corp Shares Remain Virtually Flat

Investors made no mad rush to buy shares of either the new 21st Century Fox or the new News Corp in their first day of trading as separate entities on Monday. Fox, which includes the entertainment assets of the original News Corp, including the 20th Century Fox studio, the Fox television network, and Fox News Channel, was up less than 2 percent to $29.40 per share from $29.04, while the new News Corp, which includes the old News Corp's newspapers such as the Times of London, the London Sun, the New York Post and the Wall Street Journal, ended the day down 5 percent to $14.79 from $15.59. Rupert Murdoch, who remains chairman of both companies, must have breathed a sigh of relief over the latter result inasmuch as some analysts had forecast a steeper drop. (In fact, shares in the company were up slightly to $15.02 in early trading today.)


Tags: Fox News - Wall Street - Rupert Murdoch


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