"Dow Jones is expected to reach a definitive agreement tonight to be acquired by Rupert Murdoch's News Corp., CNBC's David Faber reported." Either way, just get it over with already! [CNBC]

Yesterday, the Bancroft family was undecided about accepting Rupert Murdoch's bid for Dow Jones. Today? The deal seems likely to happen, but who the hell knows? There's a proposal on the table for "the Dow Jones board to create a fund to cover payments to firms advising Bancroft family members." Those payments are expected to be around $30 million, but "the money would be paid only if at least one of two key holdout shareholders agreed to the deal: Christopher Bancroft and a group of trusts managed by Denver law firm Holme Roberts & Owen."

"News Corp. is 'highly unlikely' to proceed with its offer for Dow Jones & Co. if News's offer doesn't get more support from the Bancroft family than has currently emerged, a News Corp. spokesman said." [WSJ]

Rupert Murdoch, speaking today in Poland, told Reuters that his bid for Dow Jones was fairly close to a successful conclusion. Claiming that News Corp. would not raise its offer price, Murdoch said, ""Everything is done. We are just waiting for a final approval of the Bancroft family. The final approval is in the next two, three week's time or not at all." Three weeks? Sweet mother of Christ, can't we just get this over with already? We're dying.

The Guardian says that shareholders are unlikely to get behind consumer publisher and Financial Times owner Pearson's attempt to block Rupert Murdoch's takeover of Dow Jones, since the company "has debts of over £1bn and has made a number of large purchases in the educational publishing sector over recent years." Financial Times staffers are also unhappy, WSJwith good reason: "The easiest way to meet the cost-savings goals would be for the newspapers to cut their biggest expense—journalists." But is Rupert showing the strain of all this wheeling and dealing and potential sabotage?

If Rupert Murdoch agrees to the Bancroft family's plans for editorial independence at Dow Jones, the family will tell the board to begin negotiations. Then, a year down the road when Murdoch breaks his promise and remakes the Wall Street Journal, the Bancrofts can say, "Hey, at least we tried," from the decks of their yachts. Everyone wins! Meanwhile, back at the Journal, new Managing Editor Marcus Brauchli is busy rearranging the deck chairs—including stripping a few "rising stars" of their titles. If anyone understands the agenda behind it all, get in touch with us, because we don't get it. In any event—don't get too comfortable, anyone!