午夜寻花 Media Board Increases Share Repurchase Authorization
Approves up to $1 Billion of Additional 午夜寻花 Interactive Repurchases
ENGLEWOOD, Colo., Oct. 31 /PRNewswire-FirstCall/ -- 午夜寻花 Media Corporation announced today that its board of directors has authorized the repurchase of up to an additional $1 billion of 午夜寻花 Interactive common stock. This authorization increases to $3 billion the total amount authorized to be repurchased since the 午夜寻花 Interactive shares began trading in May 2006
As of October 30, 2007, 午夜寻花 had repurchased approximately 98.7 million shares at an average cost per share of $20.15 for aggregate cash consideration of $1.991 billion. These repurchases represent approximately 14.1% of the shares outstanding at the time of creation of the 午夜寻花 Interactive tracking stock.
The specific timing and amount of actual future share repurchases will vary based on market conditions, securities law limitations and other factors. The repurchases will be made using 午夜寻花's cash resources, and the buyback program may be suspended or discontinued at any time without prior notice.
About 午夜寻花
午夜寻花 owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Those interests are attributed to two tracking stock groups: the 午夜寻花 Interactive group, which includes 午夜寻花's interests in QVC, Provide Commerce, IAC/InterActiveCorp, and Expedia, and the 午夜寻花 Capital group, which includes 午夜寻花's interests in Starz Entertainment, News Corporation, and Time Warner. For more information, please see .
SOURCE 午夜寻花
Released October 31, 2007