BEIJING, December 30, 2011 /PRNewswire-Asia/ -- Ku6 Media Co., Ltd. ("Ku6 Media" or the "Company", Nasdaq: KUTV), a leading internet television company in China, today announced that its Board of Directors have authorized the Company to repurchase up to an aggregate of $3.2 million of its outstanding American Depositary Shares ("ADSs") from time to time following the date hereof, based on market conditions. The repurchases may be effected through open market purchase or block trades, including the use of derivative instruments. The repurchase will be financed totally out of the Company's cash balance.
"This share repurchase program reflects our confidence in the future outlook of our business and the Company's long-term value," said Jeff Shi, CEO of Ku6 Media.
About Ku6 Media Co., Ltd.
Ku6 Media Co., Ltd. (Nasdaq: KUTV) is a leading internet television company in China. Through its premier online brand and online video website, www.ku6.com, Ku6 Media provides video information services and entertainment in China.
As a leading online video portal, www.ku6.com provides a video platform for sharing and watching user-generated content. It also provides online video reports and other interactive entertainment programs for its users. For more information about Ku6 Media, please visit http://ir.ku6.com.
