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The company made the pledge in a statement
announcing the sale of Fox's Italian and German pay-TV units to
BSkyB for $9 billion in cash and assets.
"This transaction significantly enhances liquidity on our
balance sheet to support our key operating principles including
the consistent return of capital to shareholders," said the
company in a statement.
"For fiscal 2015 we will continue our share buyback program and
will communicate the details of a renewed share buyback
authorization upon the announcement of fiscal 2014 earnings
results on Wednesday, August 6, 2014."
In August 2013, Fox's board authorized a $4 billion share
buyback over the next 12 months.
Murdoch, chairman and CEO, added: "Our renewed authorization for
our share buyback program will be executed regardless of any
potential acquisition or investment activity by the Company."
Fox recently made an unsolicited $80 billion bid for media
conglomerate Time Warner, which was rejected by its management
as too low.
The 83 year-old mogul is expected to use the proceeds from his
partial exit from Europe to fuel its pursuit of Time Warner,
with some analysts expecting him to return with a higher bid.
Fox owns 100 percent of Sky Italia, 57 percent of Sky
Deutschland and 39 percent of BSkyB.
(Reporting by Leila Abboud and Kate Holton; Editing by David
Holmes)
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