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Netflix Authorizes $300 Million Stock Buyback

Netflix, Inc. announced that its board of directors has authorized a stock repurchase program that enables the company to purchase up to $300 million of its common stock through the end of 2012.

According to the statement, this repurchase program is in addition to the authorization announced in August 2009.

Stock repurchases under this program may be made through any manner, including open market transactions, accelerated share repurchase agreements, or privately negotiated transactions with third parties, and in such amounts as management deems appropriate. The timing and actual number of shares repurchased, if any, will depend on a variety of factors including price, corporate and regulatory requirements, alternative investment opportunities and other market conditions.

Netflix trades on the NASDAQ under the symbol NFLX.

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