Emmis Sets Date For Shareholder Meeting
July 2, 2012 at 4:11 AM (PT)
EMMIS COMMUNICATIONS has finally set the date of its upcoming shareholders' meeting for AUGUST 14th. Shareholders will vote upon proposals to amend the company's 6.25% Series A Cumulative Convertible Preferred Stock and authorize the board to amend its articles of incorporation to allow a reverse stock split. Chairman JEFF SMULYAN controls a majority of shares, enough to pass the amendments.
Report Speculates On Another Possible Emmis Privatization Bid
And the INDIANAPOLIS BUSINESS JOURNAL is speculating that SMULYAN's ultimate move may be another attempt to take the company private, reporting that a plan outlined in an APRIL presentation by EMMIS adviser MOELIS AND CO. sought $25 million in financing to help the company buy up all shares not held by SMULYAN, although SMULYAN has said as recently as in a MAY 9th deposition for a shareholder lawsuit that he is not looking to take another run at taking the company private ("I have said it, and I will say it again. I will say it a thousand times. I did not have an intent and do not have an intent today to take this company private. Period. End of story."). Discovery in the lawsuit revealed the MOELIS presentation.