Rupert Murdoch is no longer looking to combine the two parts of his media empire.

News Corp, one of Mr. Murdoch’s media companies, said in a statement on Tuesday that he had determined that combining it and the Fox Corporation was “not optimal for shareholders of News Corp and Fox at this time.”

The boards of both media companies disclosed in October that Mr. Murdoch had proposed combining the two companies, a move that would reunite them nearly 10 years after they split up.

Both Fox and News Corp established independent committees of the boards to evaluate a possible deal. But it has since faced significant investor pushback.

This is a developing story. Check back for updates.