NEW YORK (AP) - Rupert Murdoch's bid for Wall Street Journal publisher Dow Jones & Co. appears to have won enough support from the company's controlling shareholders to ensure its passage, the newspaper reported Tuesday. The Journal reported that a key family trust has reversed its position and decided to support the deal. That likely means Bancroft family members and trusts holding about 38 percent of the total vote are in favor of the takeover by Murdoch's News Corp. However, a spokesman for the family said that the polling process among Bancroft family members and their trustees was continuing, and that it was premature to conclude that a specific level of support had been reached. The Bancroft family controls a total of 64 percent of the company's shareholder vote through a complex series of trusts. The vast majority of the 29 percent vote held by public shareholders is expected to approve the deal, but Murdoch's media conglomerate wants to ensure a comfortable margin for passage in the likely event some public shareholders don't vote. News Corp. has said it would only proceed if it felt there was enough support among the Bancrofts, but it hasn't specified what that level is. A News Corp. spokesman said Monday that the company was "highly unlikely" to proceed with the deal if support from the family remained at the level reported at that time _ about 29 percent. News Corp.'s board was scheduled to meet Monday at 4 p.m. ET, and Dow Jones directors were set to meet Tuesday evening. Dow Jones shares rose sharply Tuesday on hopes that a deal was close, and were getting closer to Murdoch's offering price of $60 a share, indicating growing confidence the deal will go through. In afternoon trading, Dow Jones stock rose $6.02, or 11.7 percent to $57.58. Members of the Bancroft family, which has controlled Dow Jones for a century, had a 5 p.m. deadline Monday to tell the family's lead trustee how they would vote on Murdoch's offer. Negotiations apparently continued over other matters in an attempt to convince holdout Bancroft votes to sign on to the deal. The Journal reported Tuesday that Dow Jones's board had agreed to set aside funds to pay the Bancroft family's advisory fees, which could total at least $30 million. Representatives of News Corp. and Dow Jones declined to comment on the continuing negotiations on Tuesday. Over the past few weeks investors have been steadily pushing Dow Jones shares below the $60 price that Murdoch has offered, reflecting increasing doubts about the deal going through. The Bancroft family has been deeply divided over whether to sell to Murdoch, largely over concerns that his management style could affect the papers' coverage. Murdoch says any concerns about corporate meddling in the Journal's news coverage are unwarranted. News Corp. has agreed to create a committee that would have to sign off on any decision to hire or fire top editors at the paper. In a lengthy letter to fellow family members last week, Bancroft descendant Crawford Hill urged them to vote for a sale, saying the family hadn't taken an active enough role in overseeing Dow Jones and was now "paying the price for our passivity over the past 25 years." Dow Jones' board has tentatively approved the deal, and the final decision now rests with the Bancrofts. Besides several Bancroft family members, including Dow Jones director Christopher Bancroft, Murdoch's bid is also being opposed by former board member Jim Ottaway Jr., whose family controls 7 percent of the shareholder vote.