Rentrak to Repurchase Warrants from Disney Subsidiary18 Nov, 2002 By: Hive News
Rentrak Corp. today announced it has repurchased from a subsidiary of The Walt Disney Co. warrants to purchase 925,961 shares of Rentrak's common stock.
"This transaction is consistent with our efforts to enhance the long-term value of the company for Rentrak shareholders," commented Paul Rosenbaum, chairman and CEO. "We believe it to be in the long-term interest of our shareholders to repurchase the warrants and thereby eliminate dilution of ownership to existing shareholders that would have occurred in the event the warrants were exercised. The warrant repurchase may have a positive impact on future Rentrak diluted earnings per share."