Rupert Murdoch's News Corp is considering splitting into two companies, the Wall Street Journal reported, citing inside sources.
A final decision has not been made, the paper said, but the plan would be to separate its publishing assets from its entertainment businesses, the report said.
The split would mean News Corp's film and television businesses will be carved off from its newspapers, book publishing assets and education businesses.
Murdoch had earlier opposed the move, but has recently warmed to the idea, the Journal said.
In Britain, News Corp newspapers include the News of the World, The Sun, The Times and the Sunday Times.
News International lawyers are examining iPhones thought to have been used by company executives, the High Court heard today.
A barrister representing 51 claimants in the case against the media giant, said the existence of the News International iPhones emerged as a result of evidence given to the Leveson Inquiry.
David Sherborne told Mr Justice Vos that evidence was "contrary" to previous evidence given to the High Court.
Mr Justice Vos said "new" material found on the iPhones should be disclosed.
He told lawyers: "If there is material that is new or is likely to be new then it should be disclosed."
No detail was given in court about the iPhones or their users.
Mr Justice Vos was told about the iPhones at a hearing earlier this month.
A 37-year-old woman arrested on suspicion of corruption as part of the inquiry into allegations of inappropriate payments to public officials by journalists has been released on bail. Scotland yard says she will return to a south London police station in September.
A News International spokeswoman confirmed the 37-year-old woman arrested this morning is a current employee.
The 37 year-old arrested under Scotland Yard's inquiry into payments to public officials is a journalist.
She is the 30th suspect in the Operation Elveden investigation.
She was arrested after attending Bromley police station in Kent by appointment this morning.
A 37-year-old woman was arrested today on suspicion of corruption as part of the Operation Elveden inquiry into allegations of inappropriate payments to public officials by journalists,
A 37-year-old woman has been arrested on suspicion of payments to police after information from News Corporation's Management Standards Committee.
Another arrest on payments to police under Operation Elveden: a woman at Bromley police station.
The Commons standards watchdog has been asked to examine claims that three former News International executives lied to MPs examining the phone-hacking scandal.
Ex-News of the World editor Colin Myler, the paper's former legal manager Tom Crone and one-time News International executive chairman Les Hinton were accused of misleading the Culture, Media and Sport Select Committee during its investigation of the events.
The men have denied the allegations but the committee's chairman John Whittingdale said they were "very serious matters" which should be investigated by the Standards and Privileges Committee of MPs.
The Commons agreed without a vote to refer the phone-hacking report's conclusions to the Standards and Privileges Committee, which has the power to recommend sanctions against the trio and News International.
MPs will debate the findings of the select committee report into phone hacking tomorrow, Commons Speaker John Bercow has announced.
The Culture, Media and Sport Select Committee accused News of the World editor Colin Myler, the paper's former legal manager Tom Crone and former News International chairman Les Hinton of misleading it in their evidence.
Mr Bercow gave permission for committee chairman John Whittingdale to table a motion for debate tomorrow, which could pave the way for parliamentary sanctions against the three.
In a short statement, the Speaker said Mr Whittingdale had written to him "concerning the conclusions of the Culture, Media and Sport Committee" in its report on phone hacking.