Home Login RADIO ONLINE RSS Facebook
Advertisement

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 transaction to move forward.

Judge Moberly found that the plaintiffs "failed to show a likelihood of success on the merits of any of the claims." He said that in order to succeed on a motion for Preliminary Injunction, the plaintiff(s) must show a reasonable likelihood of success on the merits. They didn't.

He also ruled that the plaintiffs' alleged disclosure deficiencies (that information that shareholders would need to evaluate the transaction) "are, based upon the evidence before the court for the preliminary injunction hearing, either not accurate, were disclosed, or is not information that a reasonable investor would consider in deciding how to vote."

Additionally, the judge said that there is no probative evidence that insolvency or bankruptcy was likely unless the proposed transaction is consummated, or otherwise. Plus, he ruled, there was no evidence that Emmis faces an imminent threat of bankruptcy whether or not the proposed transaction is completed.

Advertisement

Latest Radio Stories

92KQRS Rebrands, Shifts Music to 90's Rock & MN Musicians
KQRS-FM in Minneapolis
KQRS-FM in Minneapolis
In a shift from its Classic Rock heritage, KQRS-FM in Minneapolis unveiled a new musical and branding strategy Thursday, aiming to capture a broader, younger audience with a heavy dose of '90s rock icons and Minnesota's own legendary musicians. The station kicked off More

Tom Sullivan to Step Down from Daily Radio Show
Tom Sullivan
Tom Sullivan
After a career spanning over four decades, Tom Sullivan has announced his departure from the daily rigors of radio broadcasting. Sullivan, a staple voice on iHeartMedia's NewsRadio KFBK in Sacramento, will air his final show on Friday, May 30, marking the end of an era for both the station and its audience. More

LPM Appoints Kenya Young as President and CEO
Kenya Young
Kenya Young
Louisville Public Media (LPM) appoints Kenya Young as its next President and Chief Executive Officer, set to take effect on May 19. With a rich background in public media, Young is recognized for her innovative leadership and commitment to community engagement. John Schriber, LPM Board member and Chair More
Advertisement

NABLF Reveals 2025 Celebration of Service to America Awards
National Association of Broadcasters Leadership Foundation (NABLF)
National Association of Broadcasters Leadership Foundation (NABLF)
The National Association of Broadcasters Leadership Foundation (NABLF) has announced the recipients of the 2025 Celebration of Service to America Awards, which recognize local radio and television stations for their outstanding service to their communities across the country. More

Study Reveals Hybrid Audio and Video Podcast Consumption
Coleman Insights and Amplifi Media
Coleman Insights and Amplifi Media
A survey conducted by Coleman Insights and Amplifi Media has unveiled a significant shift in the way U.S. podcast consumers, aged 15 to 64, engage with media. Presented by Jay Nachlis, Vice President & consultant at Coleman Insights, and Steve Goldstein, Founder/CEO at Amplifi Media, More

Seattle Sports 710, Mariners Launch ''Cal Raleigh Show''
''The Cal Raleigh Show''
''The Cal Raleigh Show''
KIRO (Seattle Sports 710 AM) and the Seattle Mariners launch "The Cal Raleigh Show," a new weekly broadcast that promises fans a unique peek into the life and insights of the Mariners' acclaimed catcher, Cal Raleigh. The program will premiere today at 5pm PT and is set to air every Thursday during the More

Return to Menu

Advertisement

Subscribe to our Newsletter
Radio news and headlines delivered right to your e-mail box -- and it's free.

Advertisement

Advertisement