Not everyone agrees that buybacks are an efficient use of a company’s capital.
Nine Entertainment Company will cease its share buyback next month after spending more than $220 million over the past two years as part of its capital management program.
Buybacks are typically popular among investors because they lower the number of shares outstanding and thus boost a company’s earnings per share. Nine has invested $305 million in securing the Olympic broadcast rights until, and including, the games in Brisbane in 2032.
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