News Corp has reached a tentative deal to buy Dow Jones & Co for $5 billion (€3.6 billion) despite the controlling Bancroft family remaining divided on the deal, the Wall Street Journalreported.
Negotiators from Rupert Murdoch's News Corp and Dow Jones agreed yesterday afternoon on a price of $60 per share, which was what News Corp offered in mid-April, the newspaper reported.
The deal will be put to the full Dow Jones board today, it said.
Michael B. Elefante, the Bancroft family's lead trustee, has scheduled a meeting for Thursday at which he would present the agreement to all Bancroft family members before asking for their final vote, the report said.
Mr Elefante is expected to give the family several days to make a decision, suggesting a final resolution could be achieved next week, the report added.