News Corporation, the media group led by Mr Rupert Murdoch, is to move its primary stock market listing from Australia to the US, marking the end of an era for the company founded by the media mogul's father 50 years ago.

The group yesterday predicted the re-organisation would significantly improve its access to capital markets, helping it to raise funds on more attractive terms.

However, Mr Murdoch said the company had not set its sights on any big acquisitions.

"We have nothing major in sight at all," he said. "We don't want to buy Disney, God help us. We'd love to have a crack at ABC but that would be against the law as we have a [US television\] network already."

He said News Corp would use its primary listing and re-incorporation in the US to concentrate on organic growth at assets such as Fox Entertainment and DirecTV.

The listing move from Australia will also involve a reorganisation of cross-holdings between News Corp and other Murdoch-controlled media assets.

News Corp is to acquire the 58 per cent stake it does not already own in Queensland Press, the Australian publishing business, from the Murdoch family.

Yesterday, the company said a committee of News Corp non-executive directors would evaluate the reorganisation and examine the valuations.

The value of the Murdoch family interests in News Corp and its affiliated companies, however, is expected to remain unchanged at 8.8 billion Australian dollars (€5.5 billion).

In early trade in New York, News Corp rose 1.7 per cent.