Australian born media mogul Rupert Murdoch, who became an American citizen in 1985 so he could legally own US television stations, has nearly completed his $5 billion bid for Dow Jones, owners of the Wall Street Journal, according to Reuter's sources.

Negotiations have been completed and the board is confident the terms of the deal will be accepted in the next few days by the Bancroft family, which controls a majority of voting shares in Dow Jones.

Dow Jones & Co.'s board and Rupert Murdoch's News Corp. are expected to announce a deal next week, London's The Business weekly magazine reported on Friday.

Representatives for Dow Jones, News Corp. and the Bancroft family could not immediately be reached.

Reuters reports that last week the two parties "had reached a tentative agreement on preserving editorial independence at Dow Jones' flagship Wall Street Journal newspaper, a key step in convincing the Bancrofts to accept a deal."
Rupert Murdoch's media reign - People

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