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Bonds News

Dow Jones, News Corp. talks not completed

(Recasts first paragraph, adds details)

NEW YORK, July 6 (Reuters) - Rupert Murdoch's News Corp. NWSa.N has not yet reached a deal to buy Dow Jones & Co. Inc. DJ.N as discussions continue, representatives for Dow Jones and its controlling Bancroft family said on Friday.

Talks are continuing over such issues as price, a source familiar with the matter also said on Friday.

Dow Jones shares gained 1.6 percent to $58.77 on the New York Stock Exchange.

The comments countered a report in London’s The Business weekly magazine that said the two sides have completed talks and were expected to announce a deal next week, citing unnamed sources acting for the Dow Jones board.

The report also said Dow Jones had accepted Murdoch’s original offer of $60 per share for the company.

A Dow Jones spokesman said the report was incorrect. A News Corp. spokesman was not immediately available.

Murdoch made an unsolicited $5 billion offer in May to buy the publisher of the Wall Street Journal newspaper. The offer values Dow Jones at a 65 percent premium to its stock price before the bid was disclosed publicly.

“There is no change in the status of the discussions currently under way,” a spokesman for the Bancrofts said. “News Corp. is continuing to conduct due diligence and the negotiations are not complete.”

News Corp. shares fell 9 cents to $21.55.

((Reporting by Robert MacMillan, Kenneth Li and Michele Gershberg, editing by Gerald E. McCormick and Deborah Cohen; Reuters Messaging: kenneth.li.reuters.com@reuters.net; +646-223-6224; e-mail: kenneth.li@reuters.com))

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