Agoura Hills, Calif. - Video game publisher THQ announced on Thursday that its board of directors has authorized the repurchase of an additional $25 million of its common stock.

The decision was prompted by what the company said is its strong cash position, and a share price of $33.

The current buy-back authorization is in addition to a previous $25 million authorization, of which $8.5 million remains.

"On the heels of another record year for THQ, we believe our stock continues to be a sound investment as we enter a period of strong growth for the industry," said THQ president and CEO Brian Farrell.

THQ has about 67 million shares of common stock outstanding.

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