MUMBAI: News Corp. has undertaken an asset reorganization amounting to $9.5 billion in profit at its main British subsidiary, according to the Financial Times.

These assets -- including the company's stake in BSKYB -- have been sold by News Corp. Investments, the holding group for the company's British businesses, to other parts of News Corp. The sale is part of an internal reorganisation in preparation for News Corp.'s change in corporate domicile from Australia to the US

The $9.5 billion gain in Britain arises "from an internal reorganization of our holdings to have assets held in more sensible places as the company prepares for its re-listing," says a company insider.

The third quarter earnings of News Corp is expected to be out on Thursday, 6 May. Analysts forecast further growth in the company's core broadcasting, pay-TV and publishing operations.