ValueVision Gains on Buyback

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Shares in home-shopping company ValueVision Media jumped nearly 4% Tuesday to close at $11.06 after its board authorized a $10 million stock buyback program.

ValueVision, which operates ShopNBC and ShopNBC.com, said it plans to buy back up to $10 million in common stock during the next 12 months.

“This buyback program reflects our belief in the strong prospects for our business,” ValueVision CEO William Lansing said in a prepared statement.

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