Outdoor Channel buyback increased to $15 million
Outdoor Channel Holdings (Nasdaq: OUTD) said its board authorized adding $5 million to its stock buyback program, bringing the total to $15 million. The repurchase plan will remain effective through Nov. 30.
The company had repurchased about 985,000 shares for about $7.3 million as of July 30, which equates to an average price of $7.40 per share since it initiated the buyback program in April. The company has about 26.2 million shares outstanding.
“We continue to make solid progress executing on our strategic initiatives and delivered another quarter of positively trending financial results and improved ratings,” said Roger L. Werner, president and CEO, in a statement. “Given Outdoor Channel Holdings’ strong balance sheet and current market valuations, we believe the repurchase of the company’s stock to be a sound and timely investment that will lead to enhanced shareholder value.”
The timing of stock buybacks and the number of shares of common stock to be repurchased will be made pursuant to a company 10b5-1 plan.
Liberty Media OKs share repurchase, adds board member
Liberty Media Corp. (Nasdaq: LCAPA/B) said its board of directors has authorized the repurchase of up to $300 million of Liberty Capital common stock. This authorization is an increase to the $300 million share repurchase authorization of Liberty Capital common stock that was announced in March 2008. The existing Liberty Interactive and Liberty Entertainment repurchase authorizations remain in effect and were not affected by this action.
Additionally, the board of directors has increased the size of the board from eight to nine members and elected Evan D. Malone, an engineering consultant, to serve as a Class I director. Malone is the son of John C. Malone, the Chairman of the board and a director of Liberty Media.
Backcountry.com is part of the Liberty portfolio.
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