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Friday, August 6, 2010

Emmis shareholders play the waiting game – stock barely moves

Tonight at 6:30 is the re-scheduled special meeting of Emmis shareholders to vote on the fate of founder Jeff Smulyan’s $2.40-a-share offer to take it private. The stock price gained significantly immediately after Smulyan postponed the originally-scheduled Tuesday night meeting, but today it has scarcely moved and the volume is a fraction of the daily average. It may be that shareholders were initially encouraged by Smulyan’s new flexibility toward holders of the company’s preferred stock, but today the share-trading action has been very light. Follow the trends of Emmis stock here.

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