Dow Jones & Co. shareholders approved the company's $5.6 billion sale to Rupert Murdoch's News Corp. on Thursday, the company reported.

News Corp. reached an agreement earlier this year to acquire Dow Jones, the New York-based media company and parent of the Wall Street Journal and MarketWatch. Some 60.3 percent of Dow Jones shares were voted in favor of the transaction.

News Corp. shares slipped 6 cents to close at $20.74, while Dow Jones stock rose 4 cents to close at $60.01.

Murdoch told The Australian newspaper last month that he plans to turn the Wall Street Journal's online edition into a free site, moving away from the paid-subscription model that the newspaper has used for 11 years.

He said that instead of having just over 1 million subscribers, as it does now, a free version of the online Journal could draw 10 million to 15 million readers from every corner of the earth.

Murdoch also told The Australian newspaper that he plans to expand the size of the Journal's U.S. print edition by 15-20 percent. In addition, the Journal will feature more national and international news, Murdoch said.