Originally Posted by
sxminvestor
WTF from year end 10Q:
Stock Repurchase Program
Since December 2012, our board of directors has approved $4,000,000 for repurchases of our common
stock. Our board of directors did not establish an end date for this stock repurchase program. Shares of common
stock may be purchased from time to time on the open market and in privately negotiated transactions, including
transactions with Liberty Media and its affiliates.
16
On October 9, 2013, we entered into an agreement with Liberty Media to repurchase $500 million of our
common stock from Liberty Media. Pursuant to the agreement with Liberty Media, we repurchased $160 million
of our common stock from Liberty Media as of December 31, 2013. On January 23, 2014, we entered into an
amendment to the agreement with Liberty Media to defer the previously scheduled $240 million repurchase of
shares of our common stock from Liberty Media from January 27, 2014 to April 25, 2014, the date of the final
purchase installment under the agreement. As a result of this deferral, we expect to repurchase $340 million of
our shares of common stock from Liberty Media on April 25, 2014 at a price of $3.66 per share. We entered into
this amendment at the request of the Special Committee of our board of directors formed to review and evaluate
the Liberty Media proposal.
They have agreed to buy back 340M shares at 3.66 on April 25th coming when the stock is at 3.06 today - holy **** ?