• Bloomberg, Friday, July 10, 2009 12:16 AM

News Corp. CEO Rupert Murdoch says his company will wait until the economy recovers before considering acquisitions, preserving its more than $6 billion in cash in the recession. "I don't see an end to the downturn, and I can't predict when we'll start to see a rebound," Murdoch said at the Allen & Co. media conference in Sun Valley, Idaho.

"It's better to hold onto what we've got until it's clearer when there's an end." News Corp. built up its holdings of cash and equivalents to $6.05 billion as of March 31 from $3.24 billion a year earlier, according to regulatory filings.

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