03/28/2012 03:11 pm ET Updated May 28, 2012

News Corp. Planning Sports Network To Challenge ESPN: Bloomberg

Rupert Murdoch's News Corp. is planning to start a new sports network that will rival ESPN, Bloomberg reports.

The report says that, while the decision is not final, the company is moving forward and "assembling the required parts from pay-TV carriers and sports organizations."

News Corp. already operates Fox Sports Net, but that is a collection of regional affiliates rather than a national network.

It's not difficult to see why News Corp. would want to launch another cable franchise. An analysis by "Frontline" showed that the company makes more money from cable television than from satellite, broadcast television, movies and publishing combined.

Of course, while Fox News has been a wild success for Murdoch, other ventures, such as the Fox Business Network, have faced more of an uphill climb.

Read the full story at Bloomberg.