News Release on Stock Buyback
News Alert from PR Newswire via Quote.com
Topic:
Quote.com News Item #2268791
Headline: The Learning Company Inc. Authorizes Repurchase of Up to 3 Million
Shares of Common Stock
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CAMBRIDGE, Mass., March 13 /PRNewswire/ -- The Learning Company, Inc.
(NYSE: TLC) announced today its Board of Directors has authorized the
repurchase by the company of up to 3 million shares of its outstanding common
stock, par value $.01 per share, from time to time in the open market and
privately negotiated transactions. Any purchases would depend on price,
market conditions and other factors. The Company intends to use its excess
cash flow from operations for any such purchases.
The Company previously announced in 1996 that the Board had authorized the
repurchase by the Company over a twelve month period of up to $50 million
principal amount of its 5 1/2 Senior Convertible Notes Due 2000 from time to
time in open market and privately negotiated transactions.
The Learning Company, Inc. develops, publishes and markets a family of
premium software brands that educate across every age, from young children to
adults. The company's products are sold in more than 23,000 retail stores in
North America and through multiple distribution channels including school
sales, on-line, direct marketing and OEM. The company also develops,
publishes and distributes products worldwide including France, Germany, the
United Kingdom, Holland and the Pacific Rim. The company's headquarters are
located at One Athenaeum Street, Cambridge, Mass. 02142; telephone
617-494-1200; fax 617-494-1219. The corporate Web site is located at
www.learningco.com, and Customer Service can be reached at 800-227-5609.
SOURCE The Learning Company, Inc.
-0- 03/13/97
/CONTACT: R. Scott Murray, Chief Financial Officer, 617-494-5861 or John
Suske, Investor Relations, 617-494-5816, both of The Learning Company |
