The joint venture company, provisionally known as Shine:M, will make TV programmes with the interests of WPP's clients in mind.
The new company is being formed by Murdoch's Shine Entertainment and Mindshare, WPP's media planning and buying business.
In a report in the Financial Times, Murdoch suggested that a company such as Ikea could be involved in developing a Changing Rooms-like show, or Sainsbury's could develop a cooking programme.
Murdoch was managing director of Sky Networks, the programming arm of BSkyB which is run by her father Rupert Murdoch who owns 37% of the company, until last year when she left to start her own TV production company.
WPP owns the advertising agencies Ogilvy & Mather, J Walter Thompson and Young & Rubicam. It looks set to become the owner of another media-buying shop, Tempus, after failing to get the City regulator the Takeover Panel to give it permission to get out of its £432m offer for the company last week.
Shine:M is set to launch this week.
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