Most analysts and Sky shareholders have been expecting Rupert Murdoch's media giant to improve its £7.8bn offer for Sky, which was lodged in June.
However, News Corp deputy chairman Chase Carey said yesterday that the firm has made a "full and fair offer" for the satellite broadcaster, which it plans to stick with.
"We've been willing to sit with our current investment for many years and we have other options for our cash," he added.
In mid-June, Sky's board said that it would be willing to accept an offer from News Corp of around £1bn more, with both parties agreeing to forge ahead with the process of seeking regulatory approval for the deal.
However, Carey's comments seem to cast doubt on how close the two sides actually are in relation to agreeing a price for Sky.
Meanwhile, News Corp has reported a fiscal fourth quarter net profit of £551m, against a £128m loss in the same period in 2009.
Revenue at the group, which includes the Fox news network, book publisher HarperCollins and newspapers including The Times, increased 6% to $8.1bn.
Murdoch has also described Apple's iPad as being a "real game changer" for news organisations, as the tablet computer could get more young people reading newspapers.