By Li Hongmei

News Corp. Chairman Rupert Murdoch is close to reaching a divorce settlement with Wendi Deng Murdoch after 14 years of marriage, a person familiar with the matter said.

Murdoch, who also serves as chief executive officer of Twenty-First Century Fox Inc., filed for divorce from Wendi, his third wife, in June, and the two are scheduled to appear in court today. The couple have a prenuptial agreement and the settlement talks have been fairly amicable, according to the person, who wasn't authorized to speak publicly.

Wendi Murdoch will keep the couple's Fifth Avenue residence as part of the settlement, for the sake of stability for their children, according to the person. They have two daughters, Grace and Chloe, who live in New York.

Steven Rubenstein, a spokesman for Murdoch, declined to comment on the settlement talks. Wendi Murdoch didn't respond to e-mailed requests for comment.

When Murdoch filed for divorce in June in New York State Supreme Court in Manhattan, he said the relationship had "broken down irretrievably."