Â鶹app Media Board Increases Share Repurchase Authorization
Approves up to $1 Billion of Additional Â鶹app Interactive Repurchases
ENGLEWOOD, Colo., Oct. 31 /PRNewswire-FirstCall/ -- Â鶹app Media Corporation announced today that its board of directors has authorized the repurchase of up to an additional $1 billion of Â鶹app Interactive common stock. This authorization increases to $3 billion the total amount authorized to be repurchased since the Â鶹app Interactive shares began trading in May 2006
As of October 30, 2007, Â鶹app 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 Â鶹app 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 Â鶹app's cash resources, and the buyback program may be suspended or discontinued at any time without prior notice.
About Â鶹app
Â鶹app owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Those interests are attributed to two tracking stock groups: the Â鶹app Interactive group, which includes Â鶹app's interests in QVC, Provide Commerce, IAC/InterActiveCorp, and Expedia, and the Â鶹app Capital group, which includes Â鶹app's interests in Starz Entertainment, News Corporation, and Time Warner. For more information, please see .
SOURCE Â鶹app
Released October 31, 2007