Rupert Murdoch has pulled back his bid to merge News Corp and Fox Corp, two of his largest media properties, four months after floating the idea of combing them. News Corps Board of Directors said Tuesday it had received a letter from the conservative media mogul withdrawing the proposal to explore a potential combination of News Corp and Fox Corporation. In withdrawing the proposal, Murdoch indicated that he and his eldest son, Lachlan Murdoch, who is executive chairman of Fox Corp, determined that "a combination is not optimal for shareholders of News Corp and FOX at this time" the company said in a statement. In October, Murdoch's News Corp., which owns the Wall Street Journa
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