By 
Rupert Murdoch has proposed a recombination of Fox Corp. and News Corp, the two wings of his media empire, nearly a decade after they split, according to people familiar with the situation.
Special board committees have recently been established by both companies to study a possible deal and evaluate potential financial terms, the people said. The discussions are at an early stage, they added.
Reuniting the companies would bring Murdoch’s highest-profile properties back under one roof. Fox Corp.
FOX,
-0.75%
owns Fox News and the Fox broadcast network, along with local TV stations and the Tubi streaming service. News Corp
NWS,
-1.97%
is the parent company of Dow Jones, publisher of The Wall Street Journal and MarketWatch, as well as other assets including HarperCollins Publishers and news organizations in the U.K. and Australia.
An expanded version of this report appears at WSJ.com.
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