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Buybacks: Hastings Entertainment Authorizes $10 Million For Repurchases

August 11, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Hastings Entertainment, Inc. (NASDAQ: HAST), a multimedia entertainment retailer, said that its board of directors has authorized a stock repurchase program in the amount of $10 million. The program is in addition to the company's existing stock repurchase programs, which totaled $27.5 million.

Under the program, Hastings may repurchase stock in the open market from time to time at current market prices at the time of purchase or in privately negotiated transactions.

Texas-based Hastings Entertainment combines the sale of new and used books, videos, video games and CDs, as well as trends and consumer electronics merchandise, with the rental of videos and video games in a superstore format.

The company operates 147 superstores, averaging around 24,000 square feet, primarily in medium-sized markets throughout the United States.

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