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Items Tagged With: “EMMS”
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Emmis raises its offer on the Dutch auction buyback of preferred shares
The original minimum offer was $12.50 per share, and on Monday, Emmis says it’s willing to start at $14. Any shares already tendered at less than $14 will get the new minimum price.
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Emmis receives the expected de-listing warning from NASDAQ.
With the stock trading below $1 a share, Emmis CEO Jeff Smulyan says "this news is not unexpected. We are actively evaluating our alternatives and are confident we have a variety of options to address this situation prior to May 11, 2011." The NASDAQ exchange gives listed companies six months to regain compliance with the $1-closing price rule.
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Emmis stock dives on news that the go-private offer has been pulled
“EMMS” traded as low as $1.17 on Thursday and closed at $1.22. Would-be purchaser Jeff Smulyan had already obtained the consent of enough shares of the common stock to take the company private.
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Emmis tries again to hold a special shareholder meeting about going private: #7
Company founder and CEO Jeff Smulyan continues to wrangle with holders of 38% of the preferred stock, about terms of an exchange of their stock for new debt. Unfortunately for Smulyan, his backer Alden Global Capital pulled away from an earlier commitment to sweeten the offer for the preferred stock. Read More
Postponement #4 at Emmis, where another shareholders meeting doesn't happen
The Friday evening (August 20) special shareholders meeting to vote on founder Jeff Smulyan’s bid to take the company private was called off, and postponed until the following Friday. August 27 is the fifth date announced for the meeting.
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Friday the 13th update on Emmis: Yet another one-week postponement
This is the third postponement of the called special shareholder meeting that founder, CEO and would-be buyer Jeff Smulyan hopes will lead to his taking the company private. The terms remain exactly the same, while it’s believed that Smulyan continues to negotiate with a balky group of preferred shareholders. Read More
Emmis stockholders hang back in today's trading, ahead of 6:30 special meeting
Emmis founder and CEO Jeff Smulyan has been offering $2.40 a share to the owners of “EMMS” common stock, but the price has remained well below that, suggesting skepticism that he can complete the deal on his original terms. The postponement of two earlier special shareholder meetings was triggered by the holders of Emmis preferred stock.
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Emmis stock keeps heading south, ahead of tonight's 6:30 shareholder vote
“EMMS” lost 21 cents (about 11% of its price) on Monday to close at $1.75, and today it finished at $1.60. Founder/CEO Jeff Smulyan’s offer is $2.40 a share, but the trading price exceeded that number just very briefly, when Smulylan’s plan to take Emmis private was first announced.
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Emmis scores a "sweeping" court victory over attempts to block its sale
Shareholders of Emmis common stock couldn’t persuade a Marion County, Indiana judge to stop founder/CEO Jeff Smulyan’s attempt to take it private at $2.40 a share. Emmis had argued that state law doesn’t give shareholders the standing to halt Smulyan’s tender offer.
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Emmis faces a new potential class action suit in New York City
This one was filed by Wolf Haldenstein Adler Freeman and Herz in federal court and invites holders of both Emmis common stock (“EMMS”) and its preferred stock to join a future class action. The law firm alleges that Emmis filed a “materially false and misleading” proxy statement on May 27, and followed it up with other filings that contain omis…
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Emmis radio revenues up 2% worldwide, 3% in U.S.
Emmis Communications says its stations in New York, Indianapolis and Austin out-performed their markets, based on Miller Kaplan-reported revenue for its fiscal quarter of March-April-May. But it tells the SEC “revenue declines at KPWR in Los Angeles and in our Chicago radio cluster [Alternative Q101 and classic rock "Loop” WLUP] caused us to fall s…
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