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Company News

Emmis Postpones Shareholders Meeting for 5th Time Emmis has postponed yet another shareholders meeting as JS Acquisition continues to negotiate with a group of preferred stock shareholders that owns about 38.3% of the company. He needs the vote of these holders in order to reach a two thirds vote that would take the company private. A new date for the vote will be ann More

Emmis' Smulyan Says FM Chips Have Been Blocked A report by NBC News details the battle between radio and wireless groups to require that FM chips be included in new cell technology. "It's a shame it's come to this," said Emmis President/CEO Jeff Smulyan (pictured). "The marketplace has been blocked." He notes that that wireless companies would rather sell paid musi More

Emmis Postpones Shareholders Meeting for 4th Time Emmis has postponed yet another shareholders meeting as JS Acquisition continues to negotiate with a group of preferred stock shareholders that owns about 38.3% of the company. In a bid to take Emmis private, JS is further extending its offer to purchase all of Emmis' outstanding shares of class A share for $2.40 each More

WRKS/New York Announces Departure of Hughley WRKS-FM (98.7 Kiss FM)/New York morning host D.L. Hughley officially exits the Emmis-owned Urban AC outlet. The station said in a release that the move is "due to reasons beyond the control of either party." Previously, Hughley's representatives had threatened to yank the comedian off the air in a pay dispute claiming the Urban More

Emmis Adjourns Shareholder Meeting With No Vote For the third time Emmis has postponed the vote on taking the company private. Even so, the broadcaster said eariler this week that it was encouraged by negotiations with a group of preferred shareholders. Emmis has rescheduled the shareholder vote for August 20, seventeen days after the original vote was to take place. "W More

D.L. Hughley Missing from WRKS/New York Mornings WRKS-FM (98.7 Kiss FM)/New York morning host D.L. Hughley appears to have left the station. Emmis says he's away on a film project, but Hughley said Monday (8-9) was his last day. Hughley's representatives had threatened to yank the comedian off the air in a pay dispute. Hughley's lawyers claim the Urban AC owes Hughley about $3 More

Emmis Postpones Shareholders Vote Until August 13 For the second time this week, Emmis has postponed the vote on taking the company private. Even so, the broadcaster said it was encouraged by negotiations with a group of preferred shareholders. Emmis has rescheduled the shareholder vote for August 13, ten days after the original vote was to take place. "We continue to eng More

Emmis Vote Delayed, Preferred Stock Offer Extended A planned shareholder vote for Tuesday to consider CEO Jeff Smulyan's bid to take the company private was postponed until Friday after it did not receive the necessary votes to reach a quorum. The Indiana Business Journal reports that a revised buyout could be in the works for more than the current $2.40 per share offer. More

Emmis Wins Court Battle Seeking to Block Merger A judge ruled against the class-action law firms on Tuesday that sought a temporary restraining order to block the buyout of Emmis Communications by JS Acquisition LLC, owned by company President/CEO Jeff Smulyan. Indiana's Marion County Superior Court Judge Robyn Moberly denied the preliminary injunction, allowing the transacti More

Firm Plans to File Class Action Suit Against Emmis Wolf Haldenstein Adler Freeman & Herz, a New York law firm, is filing a class action suit against Emmis Communications on behalf of its shareholders in the company's bid to go private. The firm alleges that the proposed merger is "the product of an unfair sales process" and that the merger proposal of the stock is at "an unf More

Emmis Shareholders Go to Court to Slow Down Deal Emmis shareholders, who are challenging President/CEO Jeff Smulyan's JS Acquisition in a bid to take the company private, were in court on Monday seeking a temporary restraining order to block the buyout, reports the Indianapolis Business Journal. The group wants the August 3 deadline for shareholders to accept a buyout o More

Former Agent Sues Brandmeier for $300,000 in Fees Veteran Chicago air personality Jonathon Brandmeier is being sued by former agent Lisa Miller reports Chicago Breaking Business. She and her Miller Broadcast Management are trying to recover $180,000 in past fees and more than $100,000 in attorneys fees for a total of $312,000. Miller went to Cook County Circuit Court to More

Emmis Q1 Revenues Up 2%, Earnings Swing to Profit Emmis Communications reported revenue for its fiscal first quarter ending May 31 grew 2% to $60.3 million from $59.7 million. Operating income swung from a loss of $6.3 million to a positive $3.8 million. The broadcaster posted a net earnings of $11.9 million (32 cents per share) as compared with a loss of $3.9 million (10 cents More

Emmis Shareholders Seek to Block Smulyan's Buyout According to SEC filings, Emmis preferred stockholders including Geoffrey Raynor's Texas-based Amalgamated Gadget and a group of eight other investors plan to vote against Smulyan's bid to take the company private. Collectively, these groups own more than one-third of preferred stock, more than enough to block Emmis from going p More

McVay New Media Names Halyburton VP/Innovation McVay New Media names Dan Halyburton as VP/Innovation, working with broadcasters and technology companies to grow their revenue. This is the second addition to McVay New Media's consulting team in 2010, following the appointment of broadcast veteran Jon Erdahl as McVay New Media VP/Digital Strategy in January. Halyburton l More

Emmis Expands Preferred Stock Exchange Offer Emmis is offering to exchange all shares of Emmis' outstanding 6.25% series A cumulative convertible preferred stock for 12% PIK senior subordinated notes due 2017 at a rate of $30 of new notes for each $50 of liquidation preference of existing preferred stock. Emmis also announced a special shareholders' meeting to be held on A More

Emmis Tender Offer Sees 1.3 Million Shares to Date In a filing with the SEC, Emmis Communications said its tender offer by President/CEO Jeff Smulyan's JS Acquisition has so far amassed 1.33 million shares. In a bid to go private, JS expects a total buyout of 30.5 million common shares and 2.8 million preferred shares. The tender offer will continue through July 30 and is backed More

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