(DEALBOOK.NYTIMES) — The News Corporation is considering dividing itself into two companies, cleaving its publishing arm from its far larger entertainment division, a person briefed on the matter told DealBook early on Tuesday.

If News Corporation follows through, it would essentially mean splitting off the newspaper business that once formed the heart of the company from the Fox movie studio and television networks that now represent the strongest and most profitable parts of Rupert Murdoch‘s media empire.

Such a split, which may take the form of a corporate spinoff, would create a publishing business that included The Wall Street Journal, The Times of London, The New York Post and the HarperCollins book-publishing business.

The Murdoch family would likely retain control of the newly split companies under such a scenario, this person said.

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