The comments were made on a conference call to discuss 21st Century Fox's second quarter earnings², which were a better-than-expected $999m.

 

There was surprise on Tuesday when Fox abandoned its bid, given Mr Murdoch's tenacity³（韧性，固执） when pursuing previous deals.

 

But Mr Murdoch said Fox's shares had become "severely⁴ undervalued" following the takeover offer.

 

He said that prompted the announcement of a major share buyback, which Mr Murdoch said would maximise value for shareholders⁵.

 

"This is our resolute decision," Mr Murdoch said.

 

"While we remain opportunistic and nimble, we are a strategically complete company and have a clear sense of where we are going."

 

 

Fox's latest results showed that revenue in the second quarter increased by 17% to $8.42bn.

 

Sales at the company's film division increased by 38%, driven by the strong global performance of X-Men: Days of Future Past, which took in an estimated $740m worldwide.

 

There were two other hits - the animated⁶ comedy Rio 2 and the teen drama The Fault in Our Stars. 

 

"As we close the fiscal⁷ year, I continue to have confidence in our ability to execute our growth plan and drive value for our shareholders," said Mr Murdoch in a statement accompanying earnings.

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