Entravision ups buyback plan


Entravision Communications CorporationBack in August Hispanic broadcast specialist Entravision Communications Corporation announced its plan to repurchase its own stock. It has now committed to buying back even more.

In fact, it’s doubling down on its commitment.

The August announcement authorized corporate executives to reacquire up to $10M in stock. They are now authorized to add $10M more to that for a $20M total.

The purchases can either be on the open market or via negotiated deals, depending on market conditions.

To date, Entravision has bought in the neighborhood of 2 million shares at a cost of $9.1M.

“We are pleased to announce the extension of our repurchase program, which brings the total authorization under this program to $20 million,” said Walter F. Ulloa, Chairman and Chief Executive Officer. “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.”