Ï㽶´«Ã½ Media Board Approves Share Repurchase Authorization
Approves up to $1 billion of Ï㽶´«Ã½ Entertainment and $300 million of Ï㽶´«Ã½ Capital Repurchases
ENGLEWOOD, Colo., March 10 /PRNewswire-FirstCall/ -- Ï㽶´«Ã½ 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 Ï㽶´«Ã½ Entertainment common stock and up to $300 million of Ï㽶´«Ã½ Capital common stock. This authorization replaces the prior repurchase authorization of Ï㽶´«Ã½ Capital common stock. The existing Ï㽶´«Ã½ 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 Ï㽶´«Ã½'s cash resources, and the buyback program may be suspended or discontinued at any time without prior notice.
About Ï㽶´«Ã½
Ï㽶´«Ã½ 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 Ï㽶´«Ã½ Interactive group, which includes Ï㽶´«Ã½'s interests in QVC.com, Provide Commerce, Backcountry.com, BUYSEASONS, Bodybuilding.com, IAC/InterActiveCorp, and Expedia, (2) the Ï㽶´«Ã½ Entertainment Group, which includes Ï㽶´«Ã½'s interests in the DIRECTV Group, Inc., Starz Entertainment, FUN Technologies, Inc., GSN, LLC, Wildblue Communications, Inc., and Ï㽶´«Ã½ Sports Holdings LLC, and (3) the Ï㽶´«Ã½ 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 Ï㽶´«Ã½
Released March 10, 2008