NEW YORK (AP) -- 21st Century Fox said Thursday that it plans to delist its shares in Australia this spring if it gets shareholder approval to do so.
The media entertainment giant controlled by Rupert Murdoch announced plans earlier this month to delist in the country where it got its start. Since it split from publishing company News Corp. last June, Fox generates very little revenue in Australia. The company says listing its shares solely on the Nasdaq should reduce the regulatory burden and increase liquidity for the shares.
The company will hold a special shareholder meeting in New York on March 21 to vote on the issue. If approved, its shares will be delisted in Australia on May 8.