Confirmed...LGF has the door open for the right offer
willing to consolidate for the right price. Burns confirmed our thinking. Buying back $60M in shares is roughly 2.3million shares at 26.50ish. Why would they do this versus paying down more debt? It makes EPS stable as top execs get more shares issued to them as stock compensation. They will hold the stock until they are bought for the right price IMO.
Maybe we still believe in the long term prospects of the company. If you don't believe in the company it's really not necessary calling long term investors who have made a lot of money in this stock hype junky.