Emmis investor sees going private as the way to create shareholder value

By Lisa Kerner

Charlotte, N.C., Nov. 15 - Emmis Communications Corp. investors led by Arnhold and S. Bleichroeder Advisers, LLC remain committed to their view that a transaction with the company's chairman, chief executive officer and controlling shareholder Jeffrey Smulyan is the "optimal course of action for the board to pursue to create value for shareholders."

As a result, the reporting persons are considering potential actions that "may increase the likelihood of such a transaction taking place," according to a schedule 13D filing with the Securities and Exchange Commission.

The investors may engage in discussions with management, including Smulyan, the board and other shareholders or third parties concerning a potential going-private transaction, the filing stated.

On Oct. 25, Bleichroeder Advisers asked Emmis' independent directors to form a special committee to consider a going-private transaction with Smulyan.

Bleichroeder Advisers has a 6.17% stake in the Indianapolis media company.

© 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.