Publicly traded Determine Inc. generated fanfare when it announced it was moving its headquarters here and adding 24 jobs to the 35 already here. But many investors have been betting against it for years.
For the third time in a decade, CEO Jeff Smulyan is making an offer for the outstanding shares of Emmis Communications Corp., which runs radio stations and magazines in Indianapolis and major U.S. markets.
Shares sank 15 percent on Wednesday morning despite an $82,000 profit in the third quarter. New CEO Scott Durchslag told analysts he wanted to increase shareholder value organically rather than pursue a sale or merger.