Another Emmis Shareholder Calls For Sale Consideration
October 12, 2007 at 5:41 AM (PT)
A letter to the board of EMMIS COMMUNICATIONS by shareholder NOONDAY ASSET MANAGEMENT urged the broadcaster to consider "strategic alternatives" including possibly selling all or part of the company. The letter, disclosed in a filing with the SEC this week, voiced disappointment with the station's stock price and fiscal second quarter financial performance.
The letter follows a similar call from another shareholder, MARTIN CAPITAL MANAGEMENT, for the sale of all or part of the company's assets.