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Report: Murdoch Will Not Increase Offer for Wall Street Journal

A news report says media tycoon Rupert Murdoch will not increase his $5 billion offer for the Dow Jones Company, publisher of The Wall Street Journal.

The offer of $60 a share is already substantially above the share price before Murdoch's offer to buy the Journal and other Dow properties.

The report by the Reuters news agency comes one day after numerous news accounts, citing unnamed sources, said Murdoch and the family controlling the prestigious Wall Street Journal worked out a broad agreement to protect the paper's editorial independence.

Critics say some of Murdoch's newspapers carry sensationalized stories and promote his conservative political agenda.

Some information for this report was provided by AP and Reuters.