LONDON-- Rupert Murdoch's 21st Century Fox Inc. said it would
continue its share buyback program through the next fiscal year, a
move that may encourage investors worried about the company's
efforts to acquire Time Warner Inc.
Fox, in a statement Friday disclosing it would sell Sky Italia
and its stake in Sky Deutschland to British Sky Broadcasting Group
PLC, said it would announce details of the new buyback program
early next month, at its year-end earnings results.
In the statement, Mr. Murdoch, Fox's chairman and chief
executive, said the renewed authorization would be executed
"regardless of any potential acquisition or investment
activity."
Fox made an $80 billion cash and stock offer for Time Warner,
though the bid was rejected.
21st Century Fox was until June 2013 part of the same company as
News Corp, publisher of The Wall Street Journal and Dow Jones
Newswires.
Write to Chip Cummins at chip.cummins@wsj.com
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