DJ Formally Approves Sale to News Corp.

Dow Jones shareholders formally approved the company’s $5.6 billion sale to Rupert Murdoch's News Corporation; the closing is expected later today. The outcome was clear before today’s meeting, but the vote’s margin had been uncertain, as many Bancroft shareholders—whose voting stake was 64.2%—have been cold towards the sale that will end a century of family ownership, the Wall Street Journal reports.

60.27% of shareholders approved the sale, with Bancroft family members holding more than half of the family’s stake—37.4% overall—voting yes. Murdoch made an appearance at an annual Dow Jones executive holiday lunch yesterday, wearing the customary Santa cap; the Australian media mogul will likely own the publisher of the Journal and Barron's within hours. (More Dow Jones stories.)