Murdoch's News Corp. would sell the Dodgers to raise cash before bidding on the satellite television service DirecTV, The Age reported, citing unnamed Wall Street analysts.
A Dodgers spokesman acknowledged Sunday that the team could be sold if the right offer surfaced.
"As we've said with previous rumors about our organization being for sale, naturally they would do so, if the right buyer and the right price came along," said Derrick Hall, a senior vice president with the team. "However, there has been absolutely no indication that a sale is imminent."
Messages left for News Corp. spokesman Andrew Butcher were not immediately returned.
Butcher was quoted as telling the newspaper that no sale was imminent.
"There is no sale pending and there are no talks ongoing regarding the Dodgers," Butcher said.
The Dodgers were called the most unprofitable team in Major League Baseball last year in a study by Forbes Magazine.
News Corp. bought the Dodgers in 1998 to provide games for a California pay-TV channel.