Murdoch’s News Corp to delist in London

Rupert Murdoch’s News Corporation is delisting from the London Stock Exchange, citing the low trading volume for its shares. The delisting precedes the company’s split into two separate businesses at the end of next month, News Corporation said yesterday. London trades makes up less than 1% of the total global volume, it said. News Corporation will break its publishing assets from entertainment operations next month. Mr Murdoch agreed to the split last year. Shareholders wanted the entertainment unit to trade separately. News Corporation, which owns papers including the Wall Street Journal and The Times of London, said it expected to write down the value of its publishing business by $1.2bn to $1.4bn this quarter.