News Corp. ( NWS) plans a reorganization that will move its country of incorporation to the U.S. from Australia by the end of this year.

The company said Thursday that the move would increase the scope and depth of its shareholder base, as well as boost liquidity. The transition would likely entail the "new" company listing on the New York Stock Exchange but would not affect News Corp.'s listing on the Australian Stock Exchange.

The change also reflects the company's presence in the U.S., where the company generates 75% of its profits and revenue, News Corp. said. (For various Australian purposes, the company is already considered foreign-owned.)

Besides gaining eligibility to join various U.S.-based indices, the company would free itself from the limitations that many U.S. investment institutions have on ownership of non-U.S. companies' securities and on ownership of preferred shares. These limitations would not restrict the ownership of the non-voting common stock of News Corp. after the proposed reorganization, the company said.

News Corp. expects that increased demand for its stock after a U.S. reincorporation may narrow the historic trading discount of the nonvoting shares relative to the voting shares, thereby reducing the company's cost of capital.

In connection with the move, News Corp. would also acquire from Murdoch Interests the 58% controlling holdings in Queensland Press it doesn't currently own.