Dow Jones board and trustees of the Bancroft family, which hold the majority of the company's voting power, are evaluating the proposal, the company said in a statement.
News Corp. proposed to acquire all outstanding shares of common stock and Class B common stock for $60 per share in cash or in a combination of cash and News Corp. securities, Dow Jones said.
"There can be no assurance that this evaluation will lead to any transaction," Dow Jones said.