Bancrofts plan meeting on Murdoch bid: report

NEW YORK (Reuters) - Members of the Bancroft family, which controls Dow Jones & Co. DJ.N, are planning a private meeting Wednesday to discuss options after a $5 billion bid by Rupert Murdoch's News Corp. NWSa.N for the company, the Wall Street Journal reported on its Web site on Tuesday.

Some members believe the family should explore the matter further and look into possible alternatives to Murdoch's $60 per share offer for the company, the Journal said, citing unnamed sources.

It was not clear whether all the family's various branches would be represented at the meeting, the paper said. The meeting has no formal agenda but would allow members to debate their ownership strategy, it said.

Most of the Bancroft family, which controls the company with a class of super-voting shares, oppose the deal. Dow Jones's board has said as a result that it would not consider Murdoch's offer.

Murdoch has said in published reports that he wants to meet the Bancrofts as well as employees at the Wall Street Journal.

Bancroft family members have so far not met Murdoch or responded to his request, though a minority of the family is in favor of a dialogue, the paper said.

Representatives for Dow Jones and a lawyer for the Bancroft family could not be reached immediately.