DirecTV Announces Stock Buyback

DirecTV’s Group’s board of directors approved the repurchase of up to $1 billion of its common stock, from time to time through open-market purchases or in negotiated transactions, using available cash on hand.

The direct-broadcast satellite provider recently completed its $3 billion stock-repurchase program announced Feb. 8, 2006.

DirecTV reported total assets as of Dec. 31 of approximately $15 billion, total annual revenue of approximately $15 billion and cash or cash equivalents of over $2 billion.