Alden Sells Some Of Its Emmis Stock

Emmis Stock Sold By Alden Global

In the wake of the failed buyout attempt and lawsuit over the collapse of the deal, ALDEN GLOBAL CAPITAL has sold 450,000 of its Class A Common Shares of EMMIS COMMUNICATIONS.  An SEC filing indicates that the shares were sold in four transactions, with 165,785 shares sold on NOVEMBER 4th at 80 cents/share, another 143,580 sold for the same price on the following day, 71,435 sold on MONDAY (11/8) for 77 cents each, and 69,200 sold on TUESDAY (11/9) for 78 cents/share.

ALDEN, which is being sued by JEFF SMULYAN's JS ACQUISITION for withdrawing from their joint bid to buy out the company and take it private, still owns 3,793,578.28 shares of Class A Common Stock (956,500 shares plus the 2,837,078.28 shares of common stock into which its 1,162,737 Preferred Shares can be converted) in EMMIS.

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