News Corp. Joins S&P 500 Index

Dec 17, 2004  •  Post A Comment

Rupert Murdoch’s News Corp. on Friday entered the S&P 500 Index, one of the goals Mr. Murdoch hoped to achieve after reincorporating the media giant in the United States.

The inclusion came at the close of trading on the New York Stock Exchange, and allows a number of institutional investors access to News Corp. shares. Many institutions were prohibited from investing heavily in News Corp. previously because the company was an Australian-based corporation and was not included in the S&P 500 Index, considered one of the benchmark indexes for U.S. investors.

That changed this fall when News Corp. decided to shift its domicile to the United States. Mr. Murdoch has said that changing News Corp.’s status to a U.S. company will provide the company greater access to the capital markets.