Rupert Murdoch is expected to seal a deal to buy Dow Jones & Co this evening, CNBC reported today.
If a deal is reached, if will end a three-month pursuit of the publisher of the Wall Street Journal.
As of late yesterday, about 29 per cent of the company's voting stock owned by the Bancroft family that controls Dow Jones had voted in favour of News Corp's $5 billion, or $60 per share deal, according to the Wall Street Journal.
Dow Jones is also discussing a plan to have News Corp cover legal fees incurred by the Bancroft family amounting to at least $30 million, the paper reported yesterday.