Fox Shares Rise in NASDAQ DebutBut publishing concerns drive down News Corp. stock 7/01/2013 05:10:40 PM Eastern
Shares of 21st
Century Fox were up in their market debut July 1, but publishing venue News
Corp. lagged, dipping 3.3% after completing their planned split on June 28.
News Corp. announced
its intention to split its publishing, television and film assets into two
separate companies in June 2012. As a result of the June
28 split, News Corp., consisting of newspaper assets such as the Wall
Street Journal, The New York Post and the Times of London, and book publisher
Harper Collins, began trading on the NASDAQ Exchange under the symbol NWS.
Television asses such as cable networks Fox News Channel and FX, along with Fox
Broadcasting and film unit 20th Century Fox, are housed under the 21st
Century Fox umbrella and began trading under the symbol FOXA on July 1.
officially opened July 1 at $28.77 per share and rose as high as $29.87 (up
3.8%), before settling to $29.40 (up 2.2%). News Corp. shares debuted at $15.48
per share and rose slightly to $15.50 each in earlier trading before falling
back to $14.87 each , down 51 cents or 3.3%.