FOX removes gambling business from FTSE Russell
FTSE Russell has removed the Fox Corporation’s common stock from its Gambling Business Activity Exclusion List.
Following receipt of a challenge to the classification of Fox Corporation within the Gambling Business Activity, FTSE Russell has reviewed the involvement of Fox Corporation against the methodology for Business Activity Screening. In conducting this review, FTSE Russell confirmed with Fox Corporation that the level of involvement within the Gambling Business Activity fell below the equity ownership threshold for the classification and that this should not apply.
As a result of this change, securities of Fox Corporation will be removed from the Gambling Business Activity Exclusion List, effective immediately.
Indexes that utilise the Gambling Business Activity Exclusion List within their methodology will test securities of Fox Corporation for inclusion in line with their respective ground rules as part of their next index reviews.