Jeff Smulyan And Herbert Simon Team To Buy 1 Million Shares Of Emmis
May 21, 2012 at 6:29 AM (PT)
EMMIS COMMUNICATIONS Chairman JEFF SMULYAN and INDIANA PACERS owner HERBERT SIMON are teaming up to buy common stock in EMMIS. "I believe our stock is undervalued," SMULYAN told THE INDIANAPOLIS STAR. "It makes sense to do it."
THE STAR report, "a corporation that SIMON and SMULYAN set up, HSJS LLC, reported in a federal securities filing FRIDAY that it has authorized its purchaser STIFEL NICOLAUS & CO. to buy up to 1 million EMMIS shares starting last THURSDAY. That apparently is in addition to 585,980 shares HSJS purchased MAY 11th-16th."
In addition to owning the PACERS, SIMON is a director and former chairman of shopping mall giant SIMON PROPERTY GROUP.