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Australia-based News Corp. may revise its constitution

SHARE Australia-based News Corp. may revise its constitution

SYDNEY (Dow Jones/AP) — News Corp. said Wednesday it may change its constitution to appease Australian investors still undecided about its proposed move to the United States.

The Sydney-based media company is three weeks away from a shareholder vote on a proposed move to Delaware.

Separately, chairman and chief executive Rupert Murdoch said the company will consider buying out the 18 percent of its Fox Entertainment Group unit it doesn't already own. Such a buyout would cost a little over $5 billion at Fox's current market price.

News Corp. is expected to detail proposed changes to its constitution today following the conclusion of two days of talks with the Australian Council of Super Investors Inc., which represents local pension funds, and Institutional Shareholders' Services, spokesman Greg Baxter said.

Baxter declined to provide any details on the likely changes.