Shareholders of Splendid Medien, the German rights trader-producer behind Traffic and The Gangs Of New York, have given the company's board of management the green light for a stock repurchase programme of 890,000 shares.

The repurchase, amounting to 10% of Splendid's capital stock, is seen as part of Splendid's strategy of speeding up corporate expansion.

Commenting on the decision in an official statement, Splendid declared that "the purpose [of the repurchase programme] is, on the one hand, to place the shares with institutional investors. The programme can, however, also be used as a means to acquire investments in corporations."