Reuters: Global Markets: New News Corp shares edge higher; Fox shines

Changes are afoot at Blogtrottr! By popular request, we're bringing in paid plans with some cool new features (and more on the way). You can read all about it in our blog post.

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

New News Corp shares edge higher; Fox shines Jul 1st 2013, 14:24 Tweet Share this Email Print Related News Wall Street ends slightly up but slumps for the week Fri, Jun 21 2013 Angelina Jolie stunt double sues News Corp over hacking Tue, Jun 18 2013 News Corp's Rupert Murdoch files for divorce from wife Wendi Fri, Jun 14 2013 Analysis & Opinion Google shareholders get modest future-proofing Review: Hollywood blinds itself to Google's faults Related Topics Hot Stocks » Asian Markets » Rupert Murdoch » A sign is seen outside News Corporation building in New York, June 27, 2012. Credit: Reuters/Brendan McDermid Mon Jul 1, 2013 10:24am EDT (Reuters) - News Corp and 21st Century Fox began trading as two separate companies on Monday, giving investors the choice of a fast-growing entertainment business and a slower-growing but prominent publishing concern. The new News Corp, which includes publishing assets, such as The Wall Street Journal and HarperCollins, and an education division, started trading on a preliminary basis on June 19, at $15.28 for its Class A shares. In Monday's session, its shares rose 0.7 percent to $15.36. 21st Century Fox, whose entertainment assets include the Fox cable network and the 20th Century Fox movie studio, began trading on a preliminary basis at $28.07 for Class A shares. The stock was up 2.6 percent at $29.56 on Monday. The new publishing company will be a test for investors and their appetite for print assets. At News Corp, news and information make up the majority of revenue and earnings before interest, taxes, depreciation and amortization. While the company also has pay TV assets and an equity stake in a real estate classified site in Australia, it is coming out as a separately traded company during a challenging times for newspapers. Advertisers are choosing to put their dollars elsewhere, especially in digital products. Although News Corp, like other publishers, is a player in the virtual work, advertising in digital media commands lower prices than traditional print publications. News Corp said in May that it would write down the value of its Australian and U.S. publishing assets by up to $1.4 billion. Shareholders of the old News Corp received one share in the new publishing company for every four shares in what is now 21st Century Fox. (Reporting by Jennifer Saba in New York; Editing by Leslie Adler and Lisa Von Ahn) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions