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The free market dictates the price of every publicly traded company’s stock. All share prices exist at the intersection of what the seller is willing to accept and what the buyer is willing to pay.
A reverse stock split occurs on an exchange basis, such as 1-10. When a company announces a 1-10 reverse stock split, for example, it exchanges one share of stock for every 10 that a shareholder owns.
The company has split its stock twice in the last five years: a 4-for-1 split in 2021 followed by a 10-for-1 split in June of this year, bringing its share price to a more affordable $118.
The spin-out was structured so that 21CF was the legal continuation of the original News Corporation, with the new News Corp being a new company formed by a stock split. Since March 19, 2019, Fox Corporation, which holds 21st Century Fox's national broadcasting, news and sports assets, is also under the Murdoch family's control.
The main effect of stock splits is an increase in the liquidity of a stock: [3] there are more buyers and sellers for 10 shares at $10 than 1 share at $100. Some companies avoid a stock split to obtain the opposite strategy: by refusing to split the stock and keeping the price high, they reduce trading volume.
A stock split doesn't do anything to change the fundamentals of a stock or the business. It simply makes a proportionate change in the share count and price, like cutting a pie into more pieces.