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Emmis Investor Proposes Another Dutch Auction Buyback
August 17, 2006 at 6:00 AM (PT)
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An SEC 13-D filing by NOONDAY ASSET MANAGEMENT says that the investment group has proposed another "Dutch auction" buyback by EMMIS of its stock. The proposal was made by letter dated AUGUST 15 to EMMIS' board, which bought back shares in a Sutch auction last year; NOONDAY also disclosed that its stake in EMMIS is at 9.9% (3.185 million shares). NOONDAY's proposal follows the failed attempt by JEFF SMULYAN to take the company private.

