Disclosing that 75 percent of its revenues and profits are now generated in the U.S., Australia-based News Corp. Tuesday said it would reincorporate its holdings into a U.S.-based company. The move is
more than just symbolic, giving News Corp. greater inclusion in U.S. financial indices and greater access to U.S. capital markets. In a related move, the company said it was transferring certain
assets controlled by the Murdoch family to News Corp. As part of the move, News Corp. said it would acquire the 58 percent controlling holdings in Australia-based Queensland Press that it did not
already own.
