Jeff Smulyan Makes Offer To Take Emmis Private
August 18, 2016 at 2:35 PM (PT)
CEO JEFF SMULYAN has proposed taking EMMIS COMMUNICATIONS CORP. private.
SMULYAN has made a cash offer through his E ACQUISITION CO. at $4.10 per share to merge with EMMIS and sell or spin off its print magazine division (except for INDIANAPOLIS MONTHLY), Gospel WLIB-A/NEW YORK, and the company's TERRE HAUTE radio cluster. A special committee of disinterested members of EMMIS' board will consider the offer, which expires SEPTEMBER 16th.
MOELIS AND CO. provided financial advice for the deal, and SMULYAN has arranged financing with FALCON INVESTMENT ADVISORS, LLC. Other investors will be invited to join the deal by buying equity interests in the merged operation.