New Style Reports Issue with Lists

Hello, 

I have a multi-select field called Industry Relevance that I want to display as a list in reports and on forms (when viewing).

I created this formula text field: Industry Relevance List using this formula:

SearchAndReplace(ToText([Industry Relevance]),"; ","\n")

This functions properly with the old style reports and old style forms, but with the new style forms and new style reports, it shows the text in a string. 

Thoughts on how to fix this?

Thanks in advance!