May 26, 2009 (FinancialWire) — EDCI Holdings, Inc. (NASDAQ: EDCI) (Current Market Cap: US$33.81 Mil.), the holding company for Entertainment Distribution Co, Inc., said that its board has approved a twelve-month extension of its common stock repurchase program.

In June of last year, the EDCI board approved the repurchase of up to one million shares of common stock over the twelve-month period ending on June 3, 2009. To date, EDCI has repurchased a total of 174,794 shares under the plan.

EDCI said that, given the company’s “substantial cash position,” the market price of its common shares, and the reduced probability of EDCI making an acquisition that satisfies EDCI’s primary acquisition requirements, the board determined that it was prudent to extend the repurchase program for an additional twelve months.

New York-based EDCI Holdings is the holding company of Entertainment Distribution Co., which is the majority shareholder of a European provider of supply chain services to the optical disc market.

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