News Corp. said Tuesday after market close that it will voluntarily move its stock listing from the New York Stock Exchange to the NASDAQ Exchange, effective Dec. 29.
On NASDAQ, the company’s Class A common stock will trade under the symbol "NWSA" and its Class B common stock will trade under the symbol "NWS".
“Our move to NASDAQ will ensure that our stockholders have access to the most current trading technology possible. We are confident that NASDAQ's broad offerings and exceptional service, coupled with a cost-effective structure, will provide more value for our stockholders," said News Corp. senior vice president of investor relations Reed Nolte in a statement.
News Corp. stock has been battered this year—it is down 56% ($11.78 each) since Jan. 2. The stock closed Tuesday at $8.92 per share, up 61 cents each.