The New York Stock Exchange claimed Tuesday that Nasdaq Stock Market won a bidding war to host media giant News Corp., on its exchange. The move by News Corp - parent of Fox TV Network and Dow Jones - is a major coup for Nasdaq's parent, Nasdaq OMX Group Inc. The move will become effective from December 29.

A listing of a company the size of News Corp. - controlled by billionaire Rupert Murdoch - would generate hundreds of thousands of dollars a year in fees for the exchange. In a statement Reed Nolte, News Corp.'s senior vice president of investor relations, said the move will "ensure that our stockholders have access to the most current trading technology possible."

Nasdaq's agreement with News Corp., owner of The Wall Street Journal, includes a marketing partnership that could include advertising on Nasdaq's electronic billboard in New York's popular Times Square.

According to New York Stock Exchange spokesman Rich Adamonis, "Nasdaq made News Corp. an offer it couldn't refuse - Quite a lot of money to switch its listing. We encourage other Nasdaq-listed companies and prospects to seek similar arrangements."

Though the media company did not reply directly to the allegations, a person familiar with the talks said Nasdaq had approached News Corp with a "compelling package"
- which included a range of benefits like trading technology advances and co-sponsorship marketing partnerships. Nolte cited Nasdaq's "cost-effective structure" as another reason for the switch.