News Corp to leave London Stock Exchange

The company said the volume of its stock traded on the LSE was less than one per cent of the total globally.

The effective date of the delisting will be June 28.

The New York-based company is separating its cable channels, movie studio and other entertainment assets from its newspapers, which include The Sun, The Times, the Sunday Times and The Wall Street Journal.

The new publishing company, which will retain the News Corp name, officially kicks off on June 28. The entertainment assets, including the Fox broadcasting network, will be known as 21st Century Fox.

Rupert Murdoch, who will serve as chairman and CEO of 21st Century Fox, and executive chairman of the new News Corporation, said: “We continue to believe that the separation will unlock the true value of both companies and their distinct assets, enabling investors to benefit from the separate strategic opportunities resulting from more focused management of each division.”

Mr Murdoch added: “The two new industry leaders created by the separation will be guided by the insights of accomplished individuals who collectively bring to each company demonstrated business acumen and a diversity of experience.”

The group’s embattled UK newspaper arm News International has been the focus of the phone hacking scandal that led to the closure of News Corp’s News of the World tabloid paper.