Entravision Doubles Share Buyback to $20 Million
| RADIO ONLINE | Tuesday, November 25, 2014 |
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Entravision Communications announced Tuesday that the company's board of directors has approved the extension of its share repurchase program announced last August. The repurchase authorization includes up to an additional $10 million of the company's common stock, for a total repurchase of up to $20 million. Under the share repurchase program, the Spanish language broadcaster is authorized to purchase shares from time to time through open market purchases or negotiated purchases.
Since adopting the share repurchase program, as of November 21, the company has repurchased 2 million shares of class A common stock for approximately $9.1 million.
"We are pleased to announce the extension of our repurchase program, which brings the total authorization under this program to $20 million," said Chairman/CEO Walter F. Ulloa. "We are committed to returning value to our shareholders through our dividend and repurchase programs and remain well positioned to execute on our strategic plan and drive long-term value creation."
