Special Committee Of Emmis Board Gets Another Week To Consider Jeff Smulyan's Buyout Offer
September 30, 2016 at 6:03 PM (PT)
CEO JEFF SMULYAN is giving the special committee of disinterested members of EMMIS COMMUNICATIONS CORP.'s board another week to consider his plan to take the company private.
SMULYAN previously extended the deadline for the committee's consideration from SEPTEMBER 16th to TODAY; the extension, granted in a letter sent to the board on THURSDAY (9/29) and revealed in an SEC Form 8-K filing TODAY, takes the deadline out to OCTOBER 7th. SMULYAN's offer through his E ACQUISITION CO. is for a cash payment of $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.