Rupert Murdoch wants to put his media empire back together after 2013 split

Rupert Murdoch is exploring options to recombine his Fox Corp. and News Corp. businesses, putting back together a media empire that he split in 2013.

Both companies have set up special committees of independent directors to study a potential deal and evaluate possible terms, according to statements they put out late Friday. There’s no certainty an agreement will be reached, the companies said.

Discussions involve an all-stock merger that would require approval by a majority of the non-family shareholders, according to people familiar with the negotiations who asked not to be identified because the talks are private. Murdoch initiated the discussions, one of the people said.