Business
MediaCo Holding Inc. Announces Share Repurchase Program
NEW YORK--(BUSINESS WIRE)-- MediaCo Holding Inc. (NASDAQ: MDIA) announced today that its Board of Directors has authorized a program to repurchase shares of
About this update from Mediaco Holding Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nMediaCo Holding Inc. (NASDAQ: MDIA) announced today that its Board of Directors has authorized a program to repurchase shares of the Company’s Class A Common Stock, par value $0.01 per share (the “Common Stock”) constituting, in the aggregate, up to an amount not to exceed $2 million. The program is effective immediately. Shares of the Common Stock may be repurchased in the open market or through negotiated transactions. The program may be terminated or suspended at any time at the discretion of the Company. The Company may in the future enter into a Rule 10b5-1 trading plan to effect a portion of the authorized purchases, if criteria set forth in the plan are met. Such a plan would enable the Company to repurchase its shares during periods outside of its normal trading windows, when the Company typically would not be active in the market.\n\nThe time of purchases and the exact number of shares to be purchased will depend on market conditions. The repurchase program does not include specific price targets or timetables and may be suspended or terminated at any time. The Company intends to finance the purchases using available working capital.\n\nAbout MediaCo Holding Inc.: MediaCo Holding Inc. (“MediaCo”) is a publicly listed media company (NASD: MDIA) that super-serves communities throughout the country. MediaCo owns and operates two iconic radio stations in New York City, HOT 97 (WQHT-FM) and WBLS-FM, which boast extensive digital reach across the US. The company primarily generates revenue from advertising sales, program syndication and live events.\n\nForward-looking Statements: This press release contains forward-looking statements including, among other things, statements regarding our intended share repurchase program. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Since forward-looking statements relate to the future, they are subject to risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you sh...