Coinstar Announces $50M Accelerated Share Repurchase

Coinstar, Inc. CSTR today announced that it has entered into a letter agreement for an accelerated share repurchase transaction with Morgan Stanley & Co. Incorporated to repurchase an aggregate of approximately $50 million of Coinstar common stock. This repurchase is made under the previously announced up to $74.5 million share repurchase authorization by Coinstar's Board of Directors. Pursuant to the terms of the ASR Agreement, Coinstar will receive an initial delivery of 377,660 shares of its common stock from Morgan Stanley & Co. Incorporated.