Washington Post Company Authorizes Stock Repurchase

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The board of directors for the Washington Post company has authorized a buyback of nearly 10 percent of the Class-B common shares that are currently owned by the public. That could be up to $274.5 million worth of stock. While the favored Class-A shares are owned by the Graham family, the Class-B shares have tumbled in value by over half in three years: from $845 per share in late 2007 to $365 now. [Washington Business Journal]