ÎçҹѰ»¨ Media Board Approves Share Repurchase Authorization
Approves up to $1 billion of ÎçҹѰ»¨ Entertainment and $300 million of ÎçҹѰ»¨ Capital Repurchases
ENGLEWOOD, Colo., March 10 /PRNewswire-FirstCall/ -- ÎçҹѰ»¨ Media Corporation (Nasdaq: LCAPA/B and LMDIA/B) announced today that its board of directors has authorized the repurchase of up to $1 billion of ÎçҹѰ»¨ Entertainment common stock and up to $300 million of ÎçҹѰ»¨ Capital common stock. This authorization replaces the prior repurchase authorization of ÎçҹѰ»¨ Capital common stock. The existing ÎçҹѰ»¨ Interactive repurchase authorization remains in effect and was not affected by this action.
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 ÎçҹѰ»¨'s cash resources, and the buyback program may be suspended or discontinued at any time without prior notice.
About ÎçҹѰ»¨
ÎçҹѰ»¨ owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Those interests are attributed to three tracking stock groups: (1) the ÎçҹѰ»¨ Interactive group, which includes ÎçҹѰ»¨'s interests in QVC.com, Provide Commerce, Backcountry.com, BUYSEASONS, Bodybuilding.com, IAC/InterActiveCorp, and Expedia, (2) the ÎçҹѰ»¨ Entertainment Group, which includes ÎçҹѰ»¨'s interests in the DIRECTV Group, Inc., Starz Entertainment, FUN Technologies, Inc., GSN, LLC, Wildblue Communications, Inc., and ÎçҹѰ»¨ Sports Holdings LLC, and (3) the ÎçҹѰ»¨ Capital group, which includes all businesses, assets and liabilities not attributed to the Interactive Group or the Entertainment Group including our subsidiaries Starz Media, LLC, Atlanta National League Baseball Club, Inc., and TruePosition, Inc., and minority equity investments in Time Warner Inc. and Sprint Nextel Corporation. For more information, please see .
SOURCE ÎçҹѰ»¨
Released March 10, 2008