Emmis Purchase Offer Extended To August 3rd
July 7, 2010 at 4:01 AM (PT)
JS ACQUISITION, INC., an INDIANA corporation owned by EMMIS COMMUNICATIONS Pres./CEO JEFF SMULYAN is extending until 5p (ET) on TUESDAY, AUGUST 3rd, its offer to purchase all of EMMIS' outstanding shares of Class A Common Stock for $2.40 per share in cash.
The tender offer is being extended in order to coordinate the timing of the deadlines of the Offer with those of an exchange offer commenced by EMMIS of 12% PIK Senior Subordinated Notes due 2017 for EMMIS' 6.25% Series A Cumulative Convertible Preferred Stock. The exchange offer will also expire at 5p (ET) on AUGUST 3rd.
As of 5p (ET) on FRIDAY, JULY 2nd, approximately 1,335,282 shares of Class A Common Stock have been tendered in and not withdrawn from the Offer.