Buyback news spurs boost

NEW YORK — Viacom stock jumped $1.31 to $42.18 Monday, amid a major selloff among other showbiz stocks, after Viacom said it would increase its stock buyback program by $100 million-$600 million to include its outstanding warrants.

The program was announced last month and follows a $2 billion program completed late last year.

Among other entertainment stocks, Time Warner fell $5 to $62 and Walt Disney dropped 93ยข to $32.43.

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