Gaiam spends $32.8 million to buy shares |
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Thu, 08 Feb 2007 01:15
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BROOMFIELD, Colo. (AFX) - Shares of Gaiam Inc., a media company that sells yoga DVDs and ecologically friendly products, rose Wednesday after the company said it repurchased 2.5 million shares from Revolution Living.Gaiam said the price of $13.14 a share represented the average share price over the last 90 days. The buyback educed the number of shares outstanding by about 9 percent, the company said.Revolution Living is a unit of Revolution LLC, the investment company started by AOL co-founder Steve Case.Shares of Gaiam rose 67 cents, or 5.6 percent, to close at $12.67 on the Nasdaq. The stock has ranged between $9.80 and $19.98 over the past year.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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