Advertisement board OKs $15M debt repurchase

Wed, 09/22/2010 - 10:05am
The Associated Press Inc.'s board of directors has authorized an increase to the company's convertible senior notes repurchase program.

The online retailer said in a news release that the board authorized a $15 million increase to reduce's debt under its outstanding senior notes, which are due Dec. 1, 2011.

With the increase, the company now has $20 million authorized for repurchase.

Shares of Overstock fell 96 cents, or 6.2 percent, to $14.55 in afternoon trading Wednesday.


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