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Murdoch pulls plug on possible merger of News Corp., Fox

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Rupert Murdoch has pulled the plug on a proposal to bring back together his News Corp. and Fox Corp., saying the merger isn't coming at the right time for shareholders.

In similar statements Tuesday, the companies said their boards received letters from Murdoch withdrawing the plan.

The elder Murdoch first floated merging News Corp. -- which owns The Wall Street Journal, New York Post, The Sun and The Times in the U.K., and book publisher HarperCollins -- and Fox Corp. that controls Fox News, Fox Sports and local TV stations, in October, according to regulatory filings.

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