AMC Networks boosts stock buyback program 50% to $1.5 billion

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AMC Networks Inc.
AMCX, -0.42%
said Wednesday it was increasing its stock repurchase program by $500 million, or 50%. That increased authorization, which has no closing date, allows the company to buy back up to $1.5 billion worth of its stock. Based on Tuesday’s stock closing price of $61.64, the authorization would represent about 24.3 million shares, or about 42% of the shares outstanding. The cable channel operator’s stock, which was indicated up about 0.6% in premarket trade, has rallied 14% year to date through Tuesday, while the S&P 500
SPX, +0.17%
has gained 4.2%.


http://feeds.marketwatch.com/~r/marketwatch/marketpulse/~3/sQhjqrx70a8/story.aspx

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