Murdoch moving Corp Base from Australia to Wall Street

[Norquist Nemesis]

Voters Overwhelmingly Support News Corp.'s Move to Shift Corporate Base to United States
The Associated Press
Published: Oct 25, 2004
http://ap.tbo.com/ap/breaking/MGBQRXOHR0E.html

ADELAIDE, Australia (AP) - Rupert Murdoch's plan to move his News Corp. global media empire's shares from Australia to Wall Street won overwhelming shareholder approval Tuesday at the company's annual meeting.

Proxy votes issued ahead of the meeting showed 98.2 percent of ordinary shareholders and 96.7 percent of preferred stockholders backed the proposal to shift New Corp.'s corporate base to Delaware.

Barring massive disapproval on the floor of the shareholder meeting later Tuesday, News Corp. shares are expected to list on the New York Stock Exchange next month, coinciding with the stock's removal from the Australian benchmark index.

The move by News Corp. - owner of the Fox network, Fox News Channel and the 20th Century Fox movie studio - is intended to boost the company's appeal to a wider base of investors.

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[napi21]

1. WHY?

How is this going to affect where his company's profits are reported?

This sounds to me like a bait and switch campaign because FOX isn't doing as well as he thinks it should.

[Norquist Nemesis]

3. Can't answer that one with certainty...

except maybe he (and the investors) see a friendlier(?) policy. It will be interesting if Kerry wins to see how this all pans out. I haven't had a chance to study all of the implications/possibilities with this yet.

[NEOBuckeye]

2. This is actually a good thing.

When we reinstate anti-trust laws and corporate charter reviews a few years down the road, all companies incorporated in the US acting in vioation of their charters will be subject to nationalization and/or deincorporation. Murdoch's News Corp, now a US corporation, will not be excepted.

[StlMo]

4. Does Murdoch want to be closer to his NeoCon puppets?

:grr: :mad: