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Rupert Murdoch's News Corporation has reportedly agreed to a tentative deal to buy the company which owns the Wall Street Journal newspaper.
Mr Murdoch made the surprise $5.5 billion bid for the Dow Jones company, which owns the Wall Street Journal, in May.
Now the Wall Street Journal is reporting that the News Corporation boss and the chief executive of the Dow Jones company have reached a tentative deal.
The Dow Jones board will meet later today to discuss it, but any deal will also need the backing of the Bancroft family, which controls voting rights in the firm.
The Bancrofts initially rebuffed Mr Murdoch's takeover approach, citing concerns about editorial independence.
- RADIO AUSTRALIA
