Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for Emmis Communications Corp. > News item |
Emmis urged to go private
By Lisa Kerner
Charlotte, N.C., Oct. 25 - Emmis Communications Corp. investors led by Arnhold and S. Bleichroeder Advisers, LLC asked the company's independent directors to form a special committee and consider a going-private transaction with controlling shareholder Jeffrey Smulyan.
The investors sent a letter to Susan Bayh and Peter Lund, a copy of which was included in a statement released on Thursday. Bleichroeder Advisers has a 5.7% stake in the Indianapolis media company.
"We strongly support the idea of a buy-out, funded in part by asset sales, that delivers a substantial premium to the current trading price of approximately $5 per share," the letter stated.
The shareholders said that because Smulyan has voting control over a majority of board members, a going-private transaction with him "is the only practicable alternative for the Emmis shareholders."
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.