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Rupert Murdoch's News Corporation has finally agreed a takeover deal for the Dow Jones media group.

The $5.6 billion (£2.8 billion) deal comes after members of the influential Bancroft family holding 37 per cent of voting rights agreed to support the offer.

The Bancrofts had held a 64 per cent stake in Dow Jones, which counts the Wall Street Journal among its publications, overall and had previously given a lukewarm reaction to Mr Murdoch's overtures when the offer was first submitted earlier this year.

But in a move to allay fears over editorial independence as part of the deal a five-member special committee will be set up to protect the "continued journalistic and editorial integrity and independence of Dow Jones' publications and services".

In addition, News Corp has agreed to appoint a member of the Bancroft family or another mutually-acceptable person to its board of directors.

Mr Murdoch, chairman and chief executive officer of News Corp, thanked the Bancrofts for their backing of his bid.

"I am deeply gratified at the level of support we have received from the Bancroft family and its trustees. Given the Bancrofts' long and distinguished history as custodians of Dow Jones, we appreciate how difficult this decision was for some family members," the media tycoon said.

"I want to offer the Bancrofts my thanks, and an assurance that our company and my family will be equally strong custodians."

Richard Zannino, chief executive officer of Dow Jones, said that News Corp's offer had reflected the "vitality and uniqueness of Dow Jones and its world-class journalism, brands, businesses and people".