21st Century Fox Shareholders Okay Delisting From Australia

21st Century Fox Inc. (FOX, FOXA) shareholders on Friday approved the entertainment company's plan to delist from the Australian Securities Exchange, as it simplifies its operating structure.

The company plans to file its request to delist on March 24. If approved, the delisting is expected to occur on or around May 8, 21st Century Fox said.

Once the company is delisted from the exchange, all 21st Century Fox's Class A and Class B shares will be listed solely with Nasdaq OMX Group Inc. (NDAQ), Fox said.

21st Century Fox in January had said it planned to delist to simplify its operating structure and cut compliance costs. The move follows last June's split of News Corp. (NWSA) into two companies, 21st Century Fox and a company retaining the News Corp. (NWS) name that holds print media businesses including The Wall Street Journal as well as various Australian media assets.

The company also said in January that the delisting would consolidate trading to one exchange and reduce the company's reporting costs because it only would have to comply with one securities regulator.

Write to Anna Prior at [e-mail]

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