The announcement comes on the eve of the latest deadline that CEO Jeff Smulyan set for shareholders to accept his offer to buy back the company's stock and one day after Emmis said it would sell four Terre Haute radio stations.
The Indianapolis workforce for publisher Pearson has decreased from 850 to 180 full-time workers over the last 18 years, but a company executive told IBJ this week the firm is much more likely to grow here than shrink further.
Emmis Communications Corp. shareholders on Thursday voted to approve a one-for-four reverse stock split that is aimed at avoiding a delisting of the stock by Nasdaq. The media company also announced first quarter results.
The compensation affects purchases made from April 1, 2010, to May 21, 2012. For each e-book that was a New York Times bestseller, consumers will receive $6.93. For all other e-books, the payment will be $1.57.