Murdoch's Fox, bruised after Time Warner bid, says it will not pursue content companies
Twenty-First Century Fox Inc. executives say the company won't try to buy any other big content companies, a day after it called off its pursuit of rival media giant Time Warner Inc.
Fox Chief Operating Officer Chase Carey says on a conference call with analysts that "we have no plans to pursue any other third-party content company as an alternative to Time Warner."
CEO Rupert Murdoch says, "If there was something very unique but small, I don't know, I wouldn't say never. But we have no plans to go out on the acquisition trail."
Fox on Wednesday reported fourth-quarter earnings that beat Wall Street expectations.
The company ended its $76 billion bid for Time Warner Inc. after it was rejected.
Instead, it committed to spend $6 billion on stock buybacks.