Rentrak to Repurchase 1M Shares19 Jan, 2006 By: Erik Gruenwedel
Rentrak Corp. board of directors Jan. 19 authorized a stock repurchase program of up to 1 million shares of the company's common stock.
The Portland, Ore.-based rev-share and media measurement company will acquire the shares throughout the fiscal year on both the open market and in privately negotiated purchases, according to Paul Rosenbaum, chairman, president and CEO of Rentrak.
It is a common theory that company-authorized stock repurchase programs create shareholder value.
But analysts suggest any growth is often not significantly different from companies that do not repurchase shares.
Rentrak has 10.56 million common shares outstanding.