Emmis Communications buys back $16.7 million of term loan debt for $10 million

By Sara Rosenberg

New York, April 28 - Emmis Communications Corp. purchased $16.7 million of its term loan debt for $10 million on Tuesday, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

The repurchase was made under a Dutch auction tender that commenced on April 23, in which the company offered to use up to $10 million to buy back loans at a price in the range of 55 to 60.

Emmis is an Indianapolis-based media company.

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