The deal requires the approval of shareholders, including the Bancroft family which owns 64 percent of the voting power of the company. Some family members are openly hostile to the takeover bid and so far have failed in their efforts to find an alternative. The Bancroft family is to meet Monday to consider the matter, family spokesman Roy Winnick told AFP. Murdoch's initial overture in April met with widespread hostility from the Bancrofts. Despite efforts by News Corp to assuage their concern about preserving the Journal's editorial independence, an unknown amount of resistance remains. The Wall Street Journal, the prize asset of Dow Jones, reported Wednesday that two directors abstained from the board vote late Tuesday -- one of them a Bancroft family member -- and that a third director, Christopher Bancroft, who has fought the Murdoch bid, walked out before the vote. The newspaper cited people familiar with the situation.