Discovery Communications Buyback
OLI recorded this information on 2/13/2014
Shares Announced Repurchased:
During the quarter, the Company, pursuant to its existing stock repurchase program, repurchased 4.3 million shares of its Series C common stock for an aggregate purchase price of $336 million at an average price of$78.02 per share. For the full year 2013 the Company repurchased a total of 18.08 million shares of stock for an aggregate purchase price of approximately $1,305 million, including 13.29 million shares of its Series C common stock at an average price of $74.23 per share under the Company's stock repurchase plan, 0.79 million shares of its Series A common stock at an average price of $79.11 per share under the Company's stock repurchase plan and 4.00 million shares of Series C convertible preferred stock purchased from Advance Programming Holdings, LLC at $64.10 per share outside of the Company's stock repurchase plan. The Company has repurchased 70.19 million shares of Series C common stock and 2.77 million shares of its Series A common stock under its stock repurchase program to date at an aggregate purchase price of approximately $3.5 billion. In aggregate, including the 17.73 million preferred shares acquired from Advance/Newhouse Programming Partnership and from Advance Programming Holdings, LLC, the Company has repurchased 21% of its outstanding shares since buyback activity was authorized in 2010. The Company's Board of Directors has approved a $1.5 billion increase to the existing stock repurchase program, taking the total authorization to $5.5 billion. Under the stock repurchase program, management is authorized to purchase shares from time to time through open market purchases at prevailing prices or privately negotiated purchases subject to market conditions and other factors.
Discovery, through its subsidiaries, is a media company that provides content across distribution platforms, including pay-television, free-to-air and broadcast television, and direct-to-consumer subscription products. Co.'s portfolio of networks includes nonfiction television brands such as Discovery Channel, HGTV, Food Network, TLC, Animal Planet, Science Channel, and MotorTrend . Co.'s portfolio includes Eurosport, a sports entertainment provider. Co. classifies its operations in two segments: U.S. Networks, consisting of domestic television networks and digital content services, and International Networks, consisting of international television networks and digital content services.
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Hold (2.25 out of 4)