Finance History | Nasdaq MarketSite — One Publishing Share for Every Four Old News Corp Shares
· 2013-7
Personal memoryBy kevin · · Report an issue
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Finance History | Nasdaq MarketSite — One Publishing Share for Every Four Old News Corp Shares
kevin
People treat News Corp as a Sixth Avenue publishing house that always printed NWSA after a finished Nasdaq book.
The June 2013 issuer was a new News Corporation, the publishing and information remainder after the old News Corporation separated its entertainment assets as 21st Century Fox.
A company release dated 28 June 2013 records that the separation became effective at 16:30 Eastern that day and that holders received one share of new News Corp Class A or Class B common for every four shares of the corresponding old class.
The same release states that the new Class A and Class B books would begin regular-way trading on Nasdaq on Monday 1 July 2013 under NWSA and NWS.
Associated Press reporting the same evening repeats the one-for-four ratio and the Monday Nasdaq tapes NWSA and NWS.
The present tapes are still NWSA and NWS on Nasdaq.
The mechanism is a separation that put a publishing book onto Nasdaq without a cash offering, while the entertainment book left under new letters.
The pin is the public Times Square facade of Nasdaq MarketSite, the present street marker for the tape that first printed the new NWSA and NWS.
Interior trading is not visitable from the sidewalk.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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