Shares in Rupert Murdoch’s film and television business 21st Century Fox are set to be removed from trading on the Australian market in May.

The company, which was created in 2013 when News Corporation split into two companies, has received approval to de-list from the local market and expects that to become effective on May 8.

Fox stock will then be traded solely on Wall Street’s Nasdaq.

Shares in News Corporation, which owns many Australian newspapers, Fox Sports and a 50 per cent stake in Foxtel, will still trade on the Australian market.