NASDAQ has notified Emmis Communications Corp. that it is in danger of being delisted if the company’s stock doesn’t rise
above the minimum bid price of $1 per share within the next six months.
Long-time radio veteran Charlie Morgan is leaving his post heading up broadcasting for Indianapolis Motor Speedway and Indy
Racing League to lead Emmis Communications Corp. radio stations in Indianapolis.
For more than two years, Smulyan, 61, has been unflaggingly optimistic during quarterly conference calls. But since early 2007, Emmis’ stock has fallen 84 percent, shrinking the company’s stock market value from $307 million to $48 million. The troubles have cast uncertainty over one of Indianapolis’ highest-profile businesses.
