A Dow Jones spokeswoman denied that News Corp has finalized the deal to buy Wall Street Journal. On Friday, London’s The Business reported that the two companies have been completed the negotiations and

the deal is expected to be announced during next week.

But both News Corp and Dow Jones denied the report. A News Corp. spokesman said "the company is unaware of the truth or otherwise of the report in the British magazine The Business."

"There is no change in the status of the discussions currently underway," a spokeswoman for the Bancroft family said. "News Corp. is continuing to conduct due diligence and the negotiations are not complete."

In May, Rupert Murdoch, the media mogul, offered $5 billion for Wall Street Journal and in June the media reports said that Dow Jones & Co and News Corp have agreed on a set of editorial protections.

Murdoch had recently announced that he was looking for a final decision by around middle or end of July.

"Everything is done. We are just waiting for a final approval of the Bancroft family," Murdoch told Reuters last month. "The final approval is in the next two, three week's time or not at all,"

Although Murdoch said he has no plan to raise the bid for Dow Jones, analysts are speculating that the media mogul might have to raise his offer in order to close the deal.