News Corp mulls splitting publishing, entertainment business into two companies: Report

Rupert Murdoch's News Corp is reportedly considering splitting its publishing and entertainment businesses into two companies.

The Wall Street Journal, citing people familiar with the matter it did not name, says a split would put the 20th Century Fox film business, the Fox TV networks into a separate company from News Corp's newspaper and book publishing businesses.

The Journal reports that a final decision has not yet been made. The newspaper is owned by News Corp.

The newspaper says Murdoch has long opposed the idea but has warmed to it. His family controls about 40 per cent of the company.

The discussions come as the company deals with an investigation into alleged phone-hacking by its UK newspapers.

A call to News Corp representatives was not immediately returned.