Advertisement
Friday, September 3, 2010

Emmis deal "unlikely", but would-be buyer Jeff Smulyan keeps process alive

Emmis This morning’s 8:30am shareholder meeting – the seventh announced but not actually held – has been re-scheduled for next Wednesday evening. Emmis founder/CEO Jeff Smulyan wants still more time to persuade his own backer, Alden Global Capital, to improve the offer to a “lock-up block”... Read More

Thursday, September 2, 2010

Emmis calls postponement #7, will try again this morning

Thursday night’s scheduled 6:30 special shareholders meeting about founder Jeff Smulyan’s intention to take it private didn’t happen, and the Indianapolis Business Journal reports there’s a possible 8:30am meeting today... Read More

Thursday, September 2, 2010

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 ... Read More

Tuesday, August 31, 2010

Emmis stock continues to fall in price, as Smulyan's deal looks doubtful

Emmis “EMMS” hits its lowest levels since April, before founder and CEO Jeff Smulyan announced his intention to take the company private at $2.40 a share. The stumbling block has been some holders of Emmis preferred stock, and owners of Emmis common stock cont... Read More

Tuesday, August 31, 2010

Emmis at the crossroads

Is Jeff Smulyan’s dream of buying Emmis dead? • A piecemeal selloff of Emmis, or an outright sale? • Exonerated and free from jail, Kevin Geddings has lost his family and his radio stations.

Monday, August 30, 2010

Latest twist on Emmis deal: Jeff Smulyan's partner pulls back from higher offer

Emmis And the Emmis common stock dived from the beginning today, opening at $1.76 a share, well below Friday’s close of $2.02. We learned this morning that Alden Global Capital, which is bankrolling Jeff Smulyan’s bid to take Emmis Communications private, had recently agreed on “revised economic terms” that would satisfy the de... Read More

Monday, August 30, 2010

Remembering Katrina – and radio – five years later

Out of the desperate conditions of Hurricane Katrina came the “United Radio Broadcasters of New Orleans.” • BP will be raked over the coals today by Congress about its radio and TV spending. • It’s become the Friday night fights – a fifth failed shareholder meeting for Jeff Smulyan at Emmis.

Friday, August 27, 2010

Yet another postponement for Emmis buyout vote

Emmis Friday night’s special shareholder meeting (August 27) was never formally convened and became the fifth such non-meeting in CEO Jeff Smulyan’s protracted struggle with holders of Emmis preferred stock. After Smulyan’s go-private deal was announced on May 25, investors bought enough of the convertible preferred stock to veto hi... Read More

Friday, August 27, 2010

Emmis may finally convene its special shareholder meeting tonight

Emmis This is the fifth scheduled date for the shareholder meeting that Emmis founder Jeff Smulyan hopes will approve his bid to take it private. The others have all been postponed because of a failure to come to terms with the “lock-up block” of preferred shareholders. Read More

Thursday, August 26, 2010

Radio’s second chance at streaming?

A Performance Royalty deal might provide “some sanity to the streaming debacle.” • How is Jeff Smulyan’s quest to buy Emmis going? At $2.03 a share, not very well. • Meg Whitman keeps spending her eBay fortune on radio spots, says Media Monitors.

Friday, August 20, 2010

Postponement #4 at Emmis, where another shareholders meeting doesn't happen

Emmis 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. Read More

Monday, August 16, 2010

Smulyan is stubborn

Friday the 13th is another unlucky day for Emmis founder Jeff Smulyan. • Michael Baisden co-host is denied the chance to buy a $1.7 million home because he’s black – says HUD. • As of today, Las Vegas has two AM talkers adding FM signals.

Friday, August 13, 2010

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 bal... Read More

Friday, August 13, 2010

Emmis stockholders hang back in today's trading, ahead of 6:30 special meeting

Emmis 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 ... Read More

Monday, August 9, 2010

For Emmis shareholders, it's a whole lot of wait-and-see today

The Street’s apparent reaction to Friday night’s second postponement of the special shareholders meeting: extreme caution. Shareholders were supposed to vote on founder/CEO Jeff Smulyan’s bid to take Emmis private. Read More

Friday, August 6, 2010

Latest on Emmis: A second postponement of the shareholder vote

Emmis This time Emmis is giving itself a full week, until Friday, August 13, to reach agreement with the “lock-up block” of holders of its preferred stock. The original shareholder vote was supposed to be Tuesday evening (8/3), but there was no quorum, and at that point there was no chance the preferred shareholders would okay the offer of... Read More

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 m... Read More

Wednesday, August 4, 2010

Emmis adds three days to its calendar

Jeff Smulyan is forced to postpone last night’s Emmis shareholder vote. • Smulyan extends the offer to both sets of shareholders, while negotiating with the “lock-up” group. • Performance royalty is topic #1 around the halls of the NAB.

Tuesday, August 3, 2010

Without a quorum, Emmis postpones Tuesday night's shareholder vote

Emmis The Indianapolis Business Journal reports that Emmis “did not receive enough votes from shareholders – either in person or by proxy – to reach a quorum” for tonight’s scheduled 6:30pm meeting. The IBJ says only f... Read More

Tuesday, August 3, 2010

Emmis stock keeps heading south, ahead of tonight's 6:30 shareholder vote

Emmis “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. Read More

Advertisement
Advertisement