According to a report in
Business magazine, the announcement is expected next week once the majority shareholders, the Bancroft family, have formally agreed to the sale.
News Corp will pay $60 (£29) a share for Dow Jones stock, a 67% premium on the $36 (£17) a share price in April before news of the bid was leaked.
The deal includes an agreement to guarantee the integrity and independence of the Wall Street Journal and its journalism.
It is believed that News Corp will be able to hire and fire senior editorial and publishing staff, but only following approval by a five person independent committee.
It has been suggested that the deal could lead to Pearson selling off the Financial Times, with shareholders apparently unwilling for the title to go head-to-head with a Rupert Murdoch-backed Wall Street Journal (see Pearson Under Pressure To Sell FT).
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