News Corp. to Join S&P 500 Index

Nov 16, 2004  •  Post A Comment

News Corp. will be added to the benchmark Standard & Poor’s 500 Stock Index on Dec. 17, fulfilling a major goal of News Corp. Chairman and CEO Rupert Murdoch.

In statement issued Tuesday, S&P said News Corp. would replace a company to be identified around three days before News Corp. is set to join the index, which serves as a barometer of the overall performance of the stock market.

Inclusion on the S&P 500 Index was a major reason behind News Corp.’s decision to reincorporate in the United States. The reincorporation from Australia to the United States was completed Nov. 12.

Inclusion in the index enables a greater array of investors to buy shares in the media giant.