Murdoch is considering merging News Corporation and Fox Corporation into a single company and putting the Wall Street Journal under the same roof as Fox News.
The National Summit on Education Reform is taking place in San Francisco. In this file photo, a man is standing in front of a building.
News Corp. said in a news release it has formed a special committee to evaluate a potential deal to unite them.
According to News Corp., there is no decision yet.
The broadcasting arm of Murdoch's media empire is called Fox Corp., and it owns products like the Fox network suite and the Tubi streaming service.
News Corp.'s stock rose 4.5% in after-hours trading to $16.30 a share, while Fox Corp.'s Class A stock rose briefly before dropping.
Forbes asked for comment from Fox Corp.
Murdoch wanted to split News Corp. into two companies in order to be more responsive to fast-evolving markets. After Disney purchased the company's entertainment assets, the company reformed as Fox Corp. Murdoch is the CEO of News Corp. and his son is the CEO of Fox.
According to the Wall Street Journal, people familiar with the discussions said that a reunion is not a guarantee.
$28.6 billion. The two companies have the same market cap. Murdoch's News Corp. is worth almost $9 billion.
Almost all of Murdoch's fortune is due to the media empire.
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