Stockholders' Equity (Notes) |
12 Months Ended |
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Dec. 31, 2015 | |
| Stockholders' Equity Attributable to Parent [Abstract] | |
| Stockholders' Equity |
Note 8 - Stockholders’ Equity
Preferred Stock
Preferred stock is issuable, from time to time, with such designations, preferences and relative participating, optional or other rights, qualifications, limitations or restrictions thereof, as shall be stated and expressed in a resolution or resolutions providing for the issue of such preferred stock adopted by Starz’s board of directors. As of December 31, 2015, no shares of preferred stock were issued.
Common Stock
Series A common stock has one vote per share and Series B common stock has ten votes per share. Each share of Series B common stock is exchangeable at the option of the holder for one share of Series A common stock. Series A and Series B common stock participate on an equal basis with respect to dividends and distributions.
As of December 31, 2015, there were 13.2 million shares of Series A common stock reserved for issuance under the exercise privileges of outstanding stock options. In addition to the Series A and Series B common stock, there are 2.0 billion shares of Series C common stock authorized for issuance.
Purchases of Common Stock
Shares of Series A common stock are subject to repurchase pursuant to a share repurchase program. Repurchased shares are retired and returned to the status of authorized and available for issuance. On February 24, 2016, the Starz board of directors authorized an additional $400.0 million to repurchase Starz common stock. Including this authorization, the Starz board of directors has authorized a total of $1,200.0 million since January 2013 to repurchase Starz common stock. Starz repurchased 2.8 million, 10.9 million and 11.5 million shares of Series A common stock for aggregate consideration, including fees, of $104.1 million, $328.3 million and $289.9 million for the years ended December 31, 2015, 2014 and 2013, respectively. Starz had $78.2 million available under its share repurchase program as of December 31, 2015.
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