Dow Jones, News Corp. Talks Ongoing - TheStreet

Dow Jones, News Corp. Talks Ongoing

Dow Jones denies a report that a deal has been reached.
Publish date:

Updated from 9:29 a.m. EDT

Dow Jones


is continuing negotiations over a potential buyout by Rupert Murdoch's

News Corp.

(NWS) - Get Report

and hasn't yet reached a deal.

A British magazine reported Friday that the two sides had reached an agreement in principle, and a deal is likely to be announced within a week's time. In a brief statement Friday, Dow Jones said the article is incorrect.

A spokesman for the Bancroft family, Dow Jones' controlling shareholders, says that negotiations are ongoing.

"I am reliably informed that there is no change in the status of the discussions currently under way," says the spokesman. "News Corp. is continuing to conduct due diligence, and the negotiations are not complete."

A representative of News Corp. couldn't be reached for comment.

Shares of Dow Jones recently were up $1.10 to $58.95, below News Corp.'s buyout offer of $60 a share.