New York - Rupert Murdoch's News Corporation looks to have overcome dissent within the Bancroft family, which controls voting interest in Wall Street Journal publisher Dow Jones & Co., and will be successful in its $5 billion bid for the company, according to reports in the Wall Street Journal, New York Times and elsewhere.

The Journal reports that, as News Corp.'s board prepares to meet Tuesday evening to approve the deal, the company's offer has received backing from Bancroft family members holding 37.4% of Dow Jones' voting power.

When combined with the 29% held by public shareholders -- most of whom are expected to back News Corp.'s bid -- the company is likely to win a shareholder vote "comfortably" when it is held later this year.

"Now, [Murdoch] must convince some factions of Dow Jones's newsrooms, and outside critics, that he won't tamper too aggressively with the Journal and the company's other publications," the Journal concluded.

Related Links:
http://online.wsj.com/article/SB118589043953483378.html

http://www.nytimes.com/2007/07/31/business/media/31cnd-dow.html