The meeting followed a decision by the Dow Jones board of directors last week to recommend a sale of the company to Mr Murdoch, who has offered $60 per share for the company which owns the Wall Street Journal.

Christopher Bancroft, a family member who also sits on the company's board, said on Monday night he expected the family to decide by Friday whether to sell Dow Jones, which has been in the family's control for a century.

"We're still undecided," he said, according to a report by Reuters. "Everyone has to decide for himself."

The Bancrofts' shares are divided among a number of trusts owned by around 35 family members. They do not have to vote as a block.

Getting the backing of enough family members is the last hurdle in Mr Murdoch's battle to take over Dow Jones. The family rejected his bid in early May, but then reconsidered.

Some family members, including Mr Bancroft, have said they oppose a sale to Mr Murdoch due to his reputation for meddling in editorial decisions and have tried to find alternative bidders.

Michael Elefante, the family's main trustee who is also on the Dow Jones board and voted in favour of a sale to News Corp, said in a statement on Monday night that the meeting with family members, trustees and advisors was "very productive".

"The family members and trustees now have all the information they need to make informed decisions about the News Corp proposal," Mr Elefante said.