(Bloomberg) -- Dow Jones & Co. fell in extended U.S. trading after the owner of the Wall Street Journal said Bancroft family members who control more than 50 percent of the company's voting shares will reject a $5 billion takeover bid by Rupert Murdoch's News Corp.
Shares of the New York-based publisher declined 64 cents, or 1.1 percent, to $55.56 as of 5:11 p.m. in New York. Director Michael B. Elefante told the board of the family's decision, Dow Jones said in a statement. News Corp., the third-largest U.S. media company, announced its $60-a-share bid today.
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