Regent Ends Legal Feud With Riley, SMH
September 14, 2007 at 3:38 PM (PT)
REGENT COMMUNICATIONS has ended its war with RILEY INVESTMENT MANAGEMENT LLC and SMH CAPITAL, by appointing RILEY's JOHN AHN and former LINCOLN FINANCIAL RADIO CFO JOSEPH PATRICK HANNAN to the REGENT board. The two are asuming newly created seats, increasing the board to seven members, as RILEY and SMH had pushed it to do.
AHN will serve on the board's Nominating and Corporate Governance Committee and HANNAN will serve on the board's Audit and Compensation Committees. All parties are dropping their lawsuits against each other in the deal, ending RILEY and SMH's hostile takeover move.
Pres./CEO BILL STAKELIN said, "We welcome our new board members and look forward to working with them to increase shareholder value."