According to filings with the Securities and Exchange Commission, Alden Global Capital has sold 482,070 shares just since March 4. This selloff comes at a time when Emmis founder and CEO Jeff Smulyan is suing Alden for allegedly backing off of the plan last year to take Emmis private at $2.40 a share. According to a report today in "Taylor on Radio-Info," "Alden has been engaged in a regular program of selling off “EMMS” stock, and it’s been getting less and less money out of it." Starting with the March 4 sale of a block of 67,100 shares, Alden got $1.15 a share that day, but then $1.11 on March 7, $1.07 on March 8, $1.09 on March 9, $1.07 again on March 10 – but just 98 cents a share on March 11. The next important date for Emmis is March 21, the date to submit shareholder proposals and nominations for directors. Despite the selloff, Alden still owns a large piece of the Emmis pie - 8.47% of company's outstanding stock. In addition, as previously reported by Radio-Info, Emmis President of Programming Rick Cummings has been retained for another year, signing a contract extension with base pay of $455,000, with bonus compensation that could potentially raise that total to $728,000. In his deal, an automobile allowance, life insurance premiums and Emmis benefits are also included. You can track Emmis stock here.