Not that this was a surprise: News Corp. has reached a tentative agreement for the purchase of Dow Jones & Co. at its original $5 billion offer price, reports WSJ. The deal will be put to the full DJ board tomorrow evening for its approval, and after that, the controlling Bancroft family has to give its approval.
This afternoon negotiators from News Corp. and Dow Jones reached an agreement on terms…Murdoch did not budge from the original offer price. The story further says that DJ CEO Rich Zannino has indicated to News Corp. that the family’s position on the deal is too close to call. A final resolution might come by next week.