Breaking: Another one-week delay for Emmis vote


CEO Jeff Smulyan still has not struck a deal with dissident preferred shareholders of Emmis Communications, so the special shareholders meeting to approve legal changes and clear the way to take the company private was adjourned Friday, August 13th, for the third time – to reconvene Friday, August 20th, at 6:30 pm ET. Likewise, the tender offers for Smulyan to buy out Class A common shareholders at $2.40 per share and to for Emmis to exchange the preferred shares for new bonds at 60% of face value have also been extended to Friday, August 20th at 5:00 pm ET.