Yahoo Plans $3 Billion Stock Buy Back

[Brett_Tabke]

Reuters via cnn [money.cnn.com].

CHICAGO (Reuters) - Internet media company Yahoo! Inc. said Thursday its board authorized a program to buy back up to $3 billion worth of its common stock over the next five years.

Yahoo! (Research) said in a statement that the share repurchase will be funded using the company's working capital. The company said it has cash, cash equivalents and marketable securities of about $4.6 billion. Through March 4, Yahoo! had about 1.4 billion common shares outstanding.