UPDATE: News Corporation (NWSA) to replace Apollo Group (APOL) in S&P 500

5:21 PM EDT)

News Corporation (NASDAQ: NWSA) to replace Apollo Group (Nasdaq: APOL) in S&P 500. Apollo Group will replace Forest Oil Corp. (NYSE: FST) in the S&P MidCap 400, and Forest Oil will replace Enzo Biochem Inc. (NYSE: ENZ) in the S&P SmallCap 600 after the close of trading on Friday, June 28.

S&P 100 & 500 constituent News Corp. (NASDAQ: NWSA), which is changing its name to 21st Century Fox, is spinning off News Corp. in a transaction expected to be completed on or about that date. The renamed 21st Century Fox will remain in the S&P 100 & 500 indices. Apollo Groupâs and Forest Oilâs market capitalizations are more representative of the mid cap and small cap market spaces respectively. Enzo Biochem is ranked #599 in the S&P SmallCap 600 and is no longer appropriate for that index.

Mallinckrodt plc (NYSE: MNK) (wi) will replace Tellabs Inc. (NASDAQ: TLAB) in the S&P MidCap 400 after the close of trading on Friday, June 28. S&P 500 constituent Covidien plc (NYSE: COV) is spinning off Mallinckrodt in a transaction expected to be completed on or about that date. The Covidien stub will remain in the S&P 500. Tellabsâ market cap is below $750 million and is no longer representative of the mid cap market space.

Tesco Corp. (NASDAQ: TESO) will replace CH Energy Group Inc. (NYSE: CHG) in the S&P SmallCap 600 after the close of trading on Wednesday, June 26. Fortis Inc. is acquiring CH Energy Group in a deal expected to be completed soon.

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