Special Committee Of Emmis Board Gets Still Another Week To Consider Jeff Smulyan's Buyout Offer
October 10, 2016 at 5:27 AM (PT)
Once again, CEO JEFF SMULYAN is giving the special committee of disinterested members of EMMIS COMMUNICATIONS CORP.'s board yet another week to consider his plan to take the company private.
SMULYAN previously extended the deadline for the committee's consideration twice, taking it out to OCTOBER 7th; the latest extension gives the committee until FRIDAY (10/10) to decide whether to support the bid. 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.