The board of directors at Arbitron has given management the green light to buy back up to $100 million of the company’s common stock. The authorization runs for two years.
Arbitron said it expects the shares of common stock may be purchased from time to time in either open market or private transactions, in accordance with applicable insider trading and other securities laws and regulations, at then-prevailing market prices over a period of up to two years ending February 9, 2014.
“The exact timing and amount of purchases will depend on market conditions,” the announcement noted. “No assurance can be given as to when during the authorized period any shares will be repurchased or as to whether and to what extent any share repurchase will be consummated.”
As of December 31, 2011 Arbitron had approximately 27,289,800 shares outstanding.