Like many public broadcasting companies, Entravision sees its beaten down stock price as a bargain. It’s bought back over 93 million bucks worth in a year and a half and now the board has authorized a new 100 million bucks buyback. With 6.7 million remaining on its previous authorization from November 1, 2006, Entravision now has authorization from its board of directors to buy back up to 106.7 million bucks worth of its stock in open market or negotiated transactions.
"This new repurchase program underscores the financial strength of Entravision and our commitment to returning value to our shareholders. Our strong cash flows have enabled us to fund this significant capital program, which we believe is a prudent avenue to deploy our cash,” said CEO Walter Ulloa.
