Chesapeake Partners lowers stake in Emmis Communications to 4.18%

By Angela McDaniels

Tacoma, Wash., July 14 - Emmis Communications Corp. investors led by Chesapeake Partners Management Co., Inc. sold 288,577 shares of the company's class A common stock for $0.25 to $0.38 each.

The sales were made between May 15 and July 13, according to a schedule 13D/A filed with the Securities and Exchange Commission.

The reporting persons beneficially own 1,338,660 shares, or 4.18%, of the Indianapolis media company's outstanding stock.

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