Looks like they bought back 765,000 shares between announcement in November and 12-31-11.........paid $2,729,000 or an average of $3.567 per share......not bad. Might explain why they probably haven't been buying recently. I think they stopped at $4.......DaninFW
I believe the station sale was $29 million.....another $5 million. They had $18 million on hand 12-31-11 with $90 million in receivables which is $10 million higher than almost any quarter in well over a year. So, should be $28 million soon, added to the $68 million means they will have about $96 million in cash at end of 2012.....and still do all the things you said. Say $100 million cash EOY. DaninFW
I think my calculations were exact. Here's excerpt from 10K today:
"Stock repurchase program. During the year ended December 31, 2011, our Board of Directors approved a stock repurchase program that authorizes us to repurchase up to $25 million of our class A common stock over a 12 month period. Pursuant to this authorization, during the year ended December 31, 2011, we repurchased approximately 0.8 million shares of our class A common stock on the open market for an aggregate purchase price of $2.7 million."