DIRECTV 2007 Annual Report Download - page 44

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THE DIRECTV GROUP, INC.
Share Repurchase Program
During 2006 and 2007 our Board of Directors approved multiple authorizations for the repurchase
of a total of $5 billion of our common stock, the most recent of which was a $1 billion authorization in
August 2007 that was completed in December 2007. The authorizations allow us to repurchase our
common stock from time to time through open market purchases and negotiated transactions, subject
to market conditions, the program may be suspended or discontinued at any time. The sources of funds
for the purchases is our existing cash on hand and cash from operations. Repurchased shares are
retired but remain authorized for registration and issuance in the future.
All purchases were made in accordance with Rule 10b-18 of Securities Exchange Act of 1934. A
summary of the repurchase activity for the three months ended December 31, 2007 is as follows:
Total Number of Maximum Dollar
Shares Purchased Value that May
Total Number as Part of Publicly Yet Be Purchased
of Shares Average Price Announced Plans Under the Plans
Period Purchased Paid Per Share or Programs or Programs
(Amounts in Millions, Except Per Share Amounts)
October 1 - 31, 2007 ............... 8 $25.71 8 $269
November 1 - 30, 2007 ............. 10 24.64 10 21
December 1 - 31, 2007 ............. 1 23.94 1 —
Total .......................... 19 25.07 19 —
Subsequent to December 31, 2007, our Board of Directors authorized the repurchase of an
additional $1 billion of our common stock.
For additional information regarding our share repurchases see Note 11 of the Notes to the
Consolidated Financial Statements in Part II, Item 8 of this Annual Report.
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