The following is an excerpt from Peter Kafka | November 22, 2011 | allthingsd.com
Netflix is raising $400 million it says it doesn’t need but would be nice to have. If only the company had thought about this back in the summer of 2010.
That’s when the streaming video company authorized a $300 million stock buyback plan. Netflix has since spent $259 million of that, all of it on shares priced well above the company’s current $75 level. Ouch.
In the first nine months of this year, Netflix spent $200 million buying back its own shares, at an average price of $222. Almost $40 million of those buys came
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