News Corp. has more than $10 billion in cash, prompting much speculation about possible takeover targets as company Chairman Rupert Murdoch prepares to split his media empire into two publicly traded companies next year.
Murdoch last month expressed interest in buying the Penguin book publishing house from Pearson, but in an apparent snub to Murdoch, the company instead agreed to merge Penguin with Random House, owned by Bertelsmann.
News Corp. owns a rival publishing house, HarperCollins. News Corp. plans to spin off its publishing assets into a separate company next summer.
Murdoch also has been mentioned as a possible suitor for the Financial Times, also owned by Pearson, as well as the Los Angeles Times and Chicago Tribune, two flagship properties of Tribune Co., which is preparing to exit bankruptcy proceedings after nearly four years.