New World Entertainment said it will buy...

New World Entertainment said it will buy back up to 5.1% of its stock. Based on Friday’s stock price of $9 a share, the transaction will be worth about $6.8 million. The move, which will boost the price of New World’s remaining stock, came a day after the company issued a one-sentence statement saying it had adopted a policy of not commenting on takeover rumors regarding New World or any other company. It has been speculated that New World, a film maker that last year acquired the comics, cartoons and toy company Marvel Entertainment, might itself become a takeover target in the wake of the failed Kenner Parker bid. But no suitor has come forward.