Unless more members of the Bancroft family emerge at the 11th hour in support of a takeover offer from News Corp., Rupert Murdoch's media conglomerate is "highly unlikely" to proceed with its offer to buy Dow Jones, according to several reports.

The Bancroft family, which controls 64 percent of Dow Jones' voting stock, must submit its final votes on the $5 billion offer by 5 p.m. today. It appears likely that Murdoch will win the required number of overall votes, according to a report in the Wall Street Journal, which is published by Dow Jones. But it may not be enough.

As of yesterday, it appeared likely that 28 percent of the family would support the deal. If the expected support from 29 percent of common shareholders comes to fruition, Murdoch would receive more than 50 percent of the votes, which would be enough to acquire Dow Jones.

A News Corp. spokesman said today, however, that 28 percent of the Bancroft vote would not likely be enough to make Murdoch sufficiently comfortable to go forward with the acquisition.

Investors are clearly losing hope that the deal will get done at $60 a share. In afternoon trading, shares of Dow Jones fell more than 3 percent, to $52.55.