Reports Say Murdoch Closer to Buying Dow

Rupert Murdoch moved closer to snagging Wall Street Journal publisher Dow Jones & Co. with a tentative agreement to buy the company for his original offering price of $5 billion, the Journal and The New York Times reported Tuesday.

The deal rests, however, on approval from Dow Jones' controlling shareholders, the Bancroft family, which has been deeply divided over a sale to Murdoch on concerns of editorial independence and integrity at the storied paper.

The Journal reported that the tentative deal in principle would go to Dow Jones' board late Tuesday. Representatives for Dow Jones and News Corp., Murdoch's media conglomerate, didn't return calls seeking comment early Tuesday.

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- Posted: 2007-07-17 10:15:16

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