Emmis Communications CEO Jeff Smulyan delayed a vote again on his plan to take the company private. But shareholders of the Indianapolis-based radio company will gather Friday morning at 8:30 to decide the fate of Smulyan’s $90 million buyout bid.
A private-equity firm backing Emmis CEO Jeff Smulyan’s buyout signed off on a compromise, but then changed its mind.
A Monday morning announcement from Alden Global Capital puts CEO Jeff Smulyan’s efforts to take Emmis private in real jeopardy.
His attempts to sway preferred shareholders already have failed five times.
Local media company still discussing deal with dissident shareholders, who refused to vote Friday evening. A new date for
another shareholders meeting is to be announced
Monday.
The media company schedules another meeting for Aug. 27—what will be the fourth in five weeks—in hopes of gaining
enough
votes to take company off the public market.
Emmis has again delayed a shareholder vote to take the company off the public market. A new meeting is set for Aug. 20.
Emmis shareholders are set to vote again Friday night on taking the company private, but the proposal could be in jeopardy
if a deal is not reached
soon, says one investment expert.
As preferred shareholders continue holdout, Emmis postpones vote to take company private. Issue will be taken up again Aug.
13.
The influence of founders’ families in public companies usually wanes over time. But few firms accelerate the process,
as Finish Line is doing.
The communications company said in a news release that CEO Jeff Smulyan is continuing to negotiate with a group of preferred
shareholders
and is considering another buyout option that would not require their consent.
Emmis Communications Corp. on Tuesday postponed a decision on CEO Jeff Smulyan's bid to take the company private, saying
it did not receive enough votes from shareholders to reach a quorum.
Opposition by preferred shareholders has Emmis shares trading at more than 30 percent below the buyout price of $2.40 per
share.
Emmis Communications Corp. Chairman Jeff Smulyan’s effort to take the media company private could be derailed by a band
of preferred stockholders who oppose the plan.
Jimmy "Mad Dog" Matis, who was fired after 23 years at Q95 earlier this year, finds a new gig—in sales—at
Emmis. He also will do the Colts post-game show with Barry Krauss.
Shareholders sued to temporarily block the sale of the public company, which is set to be acquired by JS Acquisition LLC,
a private
company formed by Emmis Chairman and CEO Jeffrey H. Smulyan.
Common shareholders are challenging the proposed acquisition of the company by closely held JS Acquisition LLC, formed by
Emmis Chairman and CEO Jeffrey H. Smulyan in an effort to take it private.
JS Acquisition Inc., a company owned by Emmis Communications CEO Jeffrey Smulyan, extended its buyout offer to July 30.
Even before ratings arrive, WFNI-AM 1070 officials said they have signed two major advertisers this month due to the recent
hire of new afternoon host JMV.
The going-private deal he worked out—with New York-based Alden Global Capital—could result in another public offering
five years from now.
Company shareholders challenging the transaction to sell Emmis Communications Corp. still could be awarded damages despite
the board’s decision to OK the deal, lawyer says.
