The acquisition comes after tough talks between News Corp., Dow Jones and the divided Bancroft family who have controlled Dow Jones and its flagship business daily for over a century.
The deal was approved by both boards of directors and members of the Bancroft family and trustees representing 37 percent of the company's shareholder vote, the companies said in a statement posted on the Dow Jones website.
In a concession by Murdoch, a five-member committee will be charged with "assuring the continued journalistic and editorial integrity and independence of Dow Jones' publications and services," the companies said.
Some Bancroft family members, echoing the worries of journalists at the paper, had voiced