RealNetworks has expanded a stock repurchase program, effective immediately for US$100 million, the company said late Tuesday in a press statement.
The new program, approved by RealNetworks' board of directors and in accordance with U.S. Securities and Exchange Commission requirements, authorizes the company to repurchase up to US$100 million of its outstanding shares of common stock in the open market or through private transactions, depending on market conditions, share price and other factors, according to the company.
In addition, the stock repurchase program does not set requirements on the number of shares RealNetworks must acquire at any time, and may be terminated under certain conditions, according to the company.
The program replaces the company's previous US$75 million authorization for stock repurchase. About US$45 million of the previous program's authorized sum remains unspent, RealNetworks said.
In addition to this expanded program, the company said it will continue to evaluate other possible uses of cash resources in an effort to provide long-term shareholder value.