Question-and-Answer Session
Operator
Very good. (Operator Instructions). Our first question comes from the line of Michael Pace representing JPMorgan. Please go ahead.
Michael Pace - JPMorgan Chase
Hi, great, thanks a lot. First two questions I guess for Rocco or for Mark. Just wondering your latest view in light of, I guess, the free cash flow profile changing positively. Your latest view on stock buybacks and versus debt pay down, that's number one. Number two for you guys: the EBITDA for 2008 came in at 512, and just pro forma for the Morris transaction, what does that look like? and then I have a follow-up for John.
Rocco Commisso
Okay. We didn't buy any stock in the fourth quarter. We have a program that remains available about $47 million authorized by the Board. And we're going to wait and see what happens out there both in performance and our ability to raise more capital with their markets. And the opportunities that presented both in the stock market, and I'll leave it at that.
Michael, on the stock buybacks, what was the other question?
Mark Stephan
It was pro forma for Morris. We have 512 cash flow. And the Morris transaction is about 7 to 8 million of cash flow. So, you could say a 504 is our '08 number.
Michael Pace - JPMorgan Chase
Okay, great. And then for John, or anyone for that matter: I am just wondering if you can give us maybe a little as we headed into the first six to eight weeks of 2009. Are you seeing any change to the consumer in your markets, and any change to what the competitors are doing, whether it's DBS or the telcos. Thanks.
John Pascarelli
I mean, I'll take the first one first. We're not seeing any huge change in the DBS or telco activity. I mean most of the activity and promotions on what you've been seeing nationally, we are not really seeing a big change in activity. I mean, as far as 2009, it's quite too early to tell what's going on. And we are encouraged with what we see, but we are not ready to make a call on any changes or any activity levels based on consumer behavior.
Michael Pace - JPMorgan Chase
Great, thank you.
Operator
Our next question is from the line of Jason Bazinet with Citi. Please go ahead.
Jason Bazinet - Smith Barney
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