×
You will be redirected back to your article in seconds

21st Century Fox Up, News Corp. Down in First Day of Trading

News Corp.’s newly split publishing and entertainment divisions debuted to mixed results on Wall Street Monday.

Entertainment unit 21st Century Fox closed at $29.40 per share, up 2% from where it opened in the a.m.. Publishing unit News Corp. didn’t fare as well, closing down 5% at $14.79 after opening at $15.59.

Both stocks began preliminary trading June 19. News Corporation completed its previously announced split of both companies on Friday, and both stocks began normal trading Monday morning. Pre-existing shareholders received one share of the new publishing entity for every four shares of the new media company they own, helping to offset Monday’s declines in the former division.

Early trading had valued News Corp. at close to $9 billion, while the market pegged 21st Century Fox’s value at about $68 billion.

Preliminary shares of the publishing division closed at $15.25 per share on Friday, while 21st Century Fox closed at $28.99 per share.

More Biz

  • https://pmcvariety.files.wordpress.com/2019/06/kindred_spirits_2019_v7.jpg

    Kindred Spirits Host Fundraiser for Child Refugees

    The Kids Entertainment Professionals for Young Refugees will host its third annual Kindred Spirits fundraising campaign this month on behalf of UNICEF and in coordination with World Refugee Day, which is Thursday. The grassroots, volunteer organization’s online fundraiser will take place from June 14-27, and 100% of every donation made will benefit UNICEF. “We call [...]

  • Vid Angel

    VidAngel Hit with $62.4 Million Judgment for Pirating Movies

    A jury on Monday ordered VidAngel to pay $62.4 million to Disney, Fox, and Warner Bros. for streaming hundreds of movies on its service without permission. The verdict is potentially a death blow to the Utah-based company, which sought to allow family audiences to watch Hollywood fare while skipping past violence, sex, and other objectionable [...]

  • Nicholas Sparks

    Nicholas Sparks Apologizes, Explains Opposition to LGBT Club

    Romance writer Nicholas Sparks issued an apology on Monday for remarks he made in 2013 opposing the formation of an LGBT club at his Christian school. In an email published last week by the Daily Beast, Sparks faulted Saul Benjamin, who was then the headmaster of the Epiphany School of Global Studies, for pushing an [...]

  • Game of Thrones Season 8 Production

    'Game of Thrones,' Netflix VFX Among Those to Be Featured in SIGGRAPH Production Talks

    VFX pros behind the final season of “Game of Thrones,” the blockbuster film “Avengers: Endgame,” Pixar’s upcoming “Toy Story 4,” last year’s Oscar-winning “Spider-Man: Into the Spider-Verse,” Netflix series, including “Stranger Things,” and more will give SIGGRAPH 2019 attendees a behind-the-scenes look at their work during the conference’s Production Sessions. There will even be a [...]

  • welcome home Apple Ad

    Cannes Lions Takes Place in Time of Change for Ad World

    The ad industry gathers June 17-21 for its annual celebration of commercials, marketing and creativity, the Cannes Lions in the French Riviera. It does so against a backdrop of ongoing and profound upheaval within the world of advertising. The share prices of all the major ad groups, such as WPP, Publicis and Omnicom, are down [...]

  • R&B Singer Ann Marie Signs With

    R&B Singer Ann Marie Signs With Interscope Records (EXCLUSIVE)

    Chicago-based R&B singer-songwriter Ann Marie, known for her hit “Secret” with YK Osiris, has signed with Interscope Records, the company announced exclusively to Variety today. “Ann Marie is the prototype for today’s artist,” says Nicole Wyskoarko, the label’s EVP of urban operations. “She’s developed and cultivated a dedicated fan base using the tools of today [...]

  • Gay Chorus Deep South

    Branded Content Campaigns Help Ads Cut Through Clutter

    The business of advertising has changed from the days when an expensive 30-second spot was the be-all and end-all of a campaign, leading many commercials production companies and their directors to diversify. In an era of content overload, when it’s easier than ever for consumers to skip an ad or avoid it altogether, many advertisers [...]

More From Our Brands

Access exclusive content