Getting your player ready...
International cable and broadband Internet operator Liberty Global Inc. announced Wednesday it had repurchased 1 million shares of LGI Series C common stock from its chairman, John Malone.
The purchase price was $18 per share, making the transaction worth $18 million.
The deal was disclosed in a filing with the Securities and Exchange Commission.
The Douglas County-based company says it bought the shares as part of an ongoing stock-repurchase program that had been announced last year.
Liberty Global was spun off by Malone’s Liberty Media Corp., a diversified media holding company made up of Liberty Capital, Liberty Entertainment and Liberty Interactive.
Liberty Global has 22,000 employees and 16.1 million customers in 15 countries.
