(Corrects spelling of Elisabeth in headline)

Sept 30 (Reuters) - Elisabeth Murdoch, the daughter of media mogul Rupert Murdoch, will step down as the chairman of Shine Group when it merges with Endemol and Core Media Group Inc , the Financial Times reported, citing people familiar with the matter.

Twenty-First Century Fox Inc said in May that it would form a joint venture with Endemol, Shine Group and Core Media Group.

Sophie Turner Laing, the former managing director of content at British Sky Broadcasting Group Plc, has been named chief executive of the merged entity, the Financial Times reported.

Elisabeth, founded and sold her Shine Group television business to News Corp in 2011.

She was set to obtain a seat on the board of directors at News Corp, but decided against pursuing the nomination following the phone hacking scandal that dogged the company.

Shine Group were not immediately available for comment.

(Reporting by Narottam Medhora in Bangalore. Editing by Andre Grenon)