LOS GATOS, Calif., March 6 /PRNewswire-FirstCall/ -- Netflix, Inc.
(Nasdaq: NFLX) announced today that its Board of Directors has authorized a
stock repurchase program that enables the Company to purchase up to $150
million of its common stock through the end of 2008.
This new authorization is in addition to the $100 million repurchase
authorization announced in January. The Company previously announced that
it had completed the January repurchase, buying back approximately 3.8
million shares of its common stock at an average price of $25.96 per share,
net of expenses.
About Netflix
Netflix, Inc. (Nasdaq: NFLX) is the world's largest online movie rental
service, providing more than seven million subscribers access to more than
90,000 DVD titles plus a growing library of more than 7,000 choices that
can be watched instantly on their PCs. The company offers nine subscription
plans, starting at only $4.99 per month. There are no due dates and no late
fees -- ever. All Netflix plans include both DVDs delivered to subscribers'
homes and, for no additional fee, movies and TV series that can be started
in as little as 30 seconds on subscribers' PCs. DVDs are delivered free to
members by first class mail, with a postage-paid return envelope, from over
100 U.S. shipping points. Nearly 95 percent of Netflix subscribers live in
areas that can be reached with generally one business day delivery. Netflix
offers personalized movie recommendations and has two billion movie
ratings. For more information, visit http://www.netflix.com.
SOURCE Netflix, Inc.
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Related links:
http://www.netflix.com
CONTACT:
investors, Deborah Crawford, VP, Investor
Relations, +1-408-540-3712, or Erin Kasenchak, Sr. Manager,
Investor Relations, +1-408-540-3691, or media, Steve Swasey, VP,
Corporate Communications, +1-408-540-3947, all of Netflix, Inc.
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