(Bloomberg) -- News Corp., the owner of the Wall Street Journal, agreed to acquire Oil Price Information Service for $1.15 billion.

The sale, by S&P Global Inc. and IHS Markit Ltd., is expected to close in the fourth quarter, subject to regulatory approval and the completion of a merger between the sellers, News Corp. said in a statement Monday.

S&P Global and IHS Markit in May said they would explore a sale of OPIS to smooth the path to their planned merger.

OPIS provides daily price information used by commodity traders around the world, not just for crude oil but for a wide array of fuel markets including gasoline and diesel.

The purchase will become part of News Corp.’s Dow Jones Professional Information Business, which includes its news wire, a risk and compliance service and the Factiva research tool.

Bloomberg LP, the parent of Bloomberg News, competes with News Corp. in delivering financial news and information.

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