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EL SEGUNDO, Calif. — DirecTV said its board approved the repurchase of as much as $1 billion of common stock.
The buyback would represent as many as 50.8 million shares, or about 4.4 percent of DirecTV’s outstanding stock, based on the company’s $19.67 closing price on Friday.
Douglas County-based Liberty Media Corp. is awaiting regulatory approval to acquire a 39 percent stake in the company from News Corp.
