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News Corp. plans to exit New Zealand as part of the company's larger mission to simplify its sprawling holdings and has divested its 44% stake in New Zealand’s pay TV service Sky Network Television.

"Sky is a world class subscription television business and has been an outstanding investment for News Corporation.  We and Sky have always enjoyed an excellent, arms-length working relationship and we expect this to continue unaffected by the sale. In particular, we do not anticipate any change to current arrangements regarding access to content and collaboration on technology,"said News Corp. chief operating officer Chase Carey in a statement.

News Corp. sold its newspapers in New Zealand years ago, but the company continues to own expansive TV and newspaper holdings in Australia, Murdoch's native land. The Australian assets are expected to make up a large chunk of Murdoch's new publishing company when News Corp. splits into two parts later this year.