In a letter to a special committee of the board of directors, Smulyan said he looks forward “to further discussions with the committee and its financial advisor and legal counsel to complete a mutually acceptable transaction.”
Investor Tim Stabosz, who owns 150,000 shares of Emmis stock, called Jeff Smulyan’s plan to take the company private “a slap in the face.”
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.
Chuck Williams is replacing Charlie Morgan as Emmis’ Indianapolis market manager. Morgan will remain in New York as market manager.
Nasdaq said in a notice Monday that it informed Emmis Communications Corp. that the company was “now in compliance with all applicable requirements for continued listing on Nasdaq.”
The Indianapolis Motor Speedway’s decision to call off the local television blackout could have a big impact on WRTV, Emmis Communications and race-day advertisers.
Emmis received a letter from the stock exchange in December notifying the company that its stock had closed below its minimum $1-per-share requirement for 30 straight business days.
Nasdaq rules give Emmis 180 days, or until June 6, to get back in compliance.
Indianapolis-based media company Emmis Communications Corp. has settled a breach-of-contract lawsuit it filed in February against popular Los Angeles radio personality Kurt Alexander, better known as “Big Boy.”
Emmis Chairman Jeff Smulyan and his followers have further to travel to reach their goal of turning smartphones into the new-age transistor radio for the masses.
Emmis Communications Corp. saw profit rise almost 60 percent in its latest fiscal quarter despite falling revenue from its radio stations, the Indianapolis-based media company announced Thursday morning.
A group of preferred shareholders had argued the Indianapolis company used a succession of illegal, sham transactions to wipe out tens of millions of dollars in dividend obligations.
Emmis Communications Corp. reported an big increase in fourth-quarter and full-year radio station revenue, but took a sizable loss due to a one-time, non-cash charge to reflect reductions in the value of station licenses it owns.
The departure of Kurt "Big Boy" Alexander from Emmis Communications' powerhouse Los Angeles radio station came at what was already a challenging time for the Indianapolis company.