Emmis Communications Corp. is accusing Alden Global Capital, which once backed Emmis CEO Jeff Smulyan’s attempt to take the company private, of violating the “short-swing rule.” This is the third suit involving the parties since Smulyan called off the move last year.
In uncommonly sharp language, attorneys for New York-based Alden Global Capital accused Emmis' board of “a blatantly self-dealing transaction” that allows Smulyan to “pursue a personal litigation vendetta” against Alden.
Stock in the Indianapolis-based media company closed above the necessary threshold of $1 per share for 10 consecutive business days on Thursday, meaning it should be back in compliance with NASDAQ rules.
Alden Global Capital, a firm Emmis CEO Jeff Smulyan is suing for backing out of a deal to finance his efforts to take Emmis private, charges that a $200,000 loan Emmis made to pay his legal fees violates the Sarbanes-Oxley Act.
After an eight-day trading stretch in which its shares traded above $1 each, Emmis stock fell to 97 cents on Tuesday, below an important NASDAQ exchange threshhold.
Emmis Communications’ share price soared 42 percent on Wednesday, a day after the company reiterated that it is “actively pursuing” the sale of some assets. CEO Jeff Smulyan says it's impossible to call a station sale imminent, but shares gained another 13 percent on Thursday.
The Indianapolis-based media company suffered a loss in the fiscal third quarter despite a 3-percent rise in revenue.
Emmis Communications Corp. will contribute $200,000 toward legal fees in a lawsuit that company founder Jeff Smulyan’s JS Acquisition LLC filed over its failed effort to take the Indianapolis-based media company private.
Jeff Smulyan in 2010 tried for the second time in four years to take Emmis Communications Corp. private, only to see a group of dissident investors band together to block the deal at the 11th hour.
Indianapolis-based Emmis Communications Corp. owns radio stations and magazines. For the six months ended Aug. 31, the company reported a net loss of $6.3 million, or 17 cents a share, on revenue of $127 million.
Emmis Communications Corp. spent much of last year in danger of being delisted from the NASDAQ stock exchange. Now, it’s back in the same precarious position.
The Indianapolis-based media company announced this morning that it lost $2.3 million in the latest quarter, down from a whopping $135.6 million in the same period a year earlier.
The CEO thinks Emmis could cast off some big-market stations, raising ample cash to pay off the company’s bank debt before it comes due in November 2013.
Emmis CEO Jeff Smulyan's JS Acquisition LLC has racked up takeover expenses of $10.2 million, a figure that's sure to escalate now that JS Acquisition is suing its one-time financier for backing out of the deal.
Emmis Communications Corp. CEO Jeff Smulyan’s JS Acquisition LLC is suing its one-time financier for backing out of a deal to take the Indianapolis-based media company private.
Congress is expected this fall to debate the idea of mandating the inclusion of tuners, a move that could boost the struggling radio industry.
Emmis, which has been awash in red ink, must contend with more than $340 million in debt after CEO Jeff Smulyan failed in his attempt to purchase the company and take it private.
Emmis Communications Corp. will remain a public company after executives announced Thursday morning that CEO Jeff Smulyan has abandoned his efforts to buy the Indianapolis-based media firm.
A Wednesday evening shareholders meeting has been postponed until Thursday at 8:30 a.m., when the Emmis CEO again will try to take the company private.
Emmis Communications CEO Jeff Smulyan delayed a shareholder vote Friday morning, for the eighth time overall and second time in 24 hours, on a proposed deal to take the company private.
