Dow Jones confirms 5 billion dollars bid from News Corp.

Dow Jones & Co., publisher of The Wall Street Journal, announced Tuesday that it has received a bid from News Corp. to buy the company for about 5 billion U.S. dollars, or 60 dollars a share.

Dow Jones said in a statement that its board, and members of the Bancroft family, the company's controlling shareholder, are "evaluating the proposal."

Shares of Dow Jones soared over 50 percent to 20.86 dollars, or 57.42 percent, on the New York Stock Exchange.

News Corp sent a letter to Dow Jones' Board of Directors two weeks ago, said CNBC.

Source: Xinhua