News Corp and Fox Corporation are considering a proposal to get back together nearly a decade after they split up.
The boards of Fox and News Corp are looking into a possible deal. The committees didn't make a decision about combining.
When they split News Corp and Fox told investors that they were better off apart.
The phone-hacking scandal exposed the company to legal and financial risks. The media conglomerates split their promising TV businesses off from their slower growing print properties.
If the deal goes through, a collection of news and entertainment assets, including Fox News, The Wall Street Journal, and the Fox broadcasting network, would be under the same corporate umbrella.
The 21st Century Fox movie studio was sold to the Disney company. It was one of many media deals that took place to compete with tech giants.
Lachlan Murdoch, one of the Murdochs' sons, told Fox investors that the companies wouldn't be coming back together.
Three people with knowledge of the talks said that Mr. Murdoch proposed the deal within the last two weeks. The Murdoch family trust has a stake in both companies.
Mr. Murdoch is interested in joining the two companies to make money and save money. There are ways in which the company could integrate its properties. It may be possible to use the company's assets for sports betting. Fox and the Stars Group will be launching a sports-betting platform called Fox Bet.
The people said that the companies could potentially save money by hiring a single management team.
Four people with knowledge of the talks said the proposal would divide ownership between stockholders based on the company's market value. There was no suggestion of a proposed relative valuation for the companies.
News Corp and Fox were considering a deal.
The chief executive of News Corp told employees about the proposal in an email.
The email was seen by The New York Times.
There can be no certainty that any transaction will result from the Special Committee's evaluation.
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