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

Nielsen: AM/FM Radio Drives Vehicle Buying Decisions
Nielsen
Nielsen
A new Nielsen study suggests removing AM/FM radio from new vehicles could have a significant impact on consumer purchasing decisions, with many buyers saying they would reject vehicles that lack the feature. The report, "Tuned In: Why Removing AM/FM Radio Is a Multi-Billion Dollar More

Connoisseur Names Flatley Long Island Sales Director
Chris Flatley
Chris Flatley
Connoisseur Media has named Chris Flatley Director of Sales for its Long Island operations, effective July 13. Flatley will oversee revenue strategy and sales operations for the company's Long Island portfolio, including WALK (WALK 97.5), WKJY (KJOY 98.3), WWSK (94.3 The Shark), WWWF (103.1 The Wolf) WHLI More

CMG Appoints Phil Becker to New Growth Role
Phil Becker
Phil Becker
Cox Media Group (CMG) has named Phil Becker Vice President, Audience & Content Growth for its radio division, a newly created executive position focused on expanding audiences across broadcast and digital platforms. Becker will join CMG Radio on July 20 and will oversee audience growth strategies More
Advertisement

Broadcasters Push Congress on AM Radio Bill
Broadcasters Push Congress on AM Radio Bill
Broadcasters Push Congress on AM Radio Bill
Broadcasters from 31 states gathered on Capitol Hill Tuesday to urge Congress to pass the AM Radio for Every Vehicle Act, arguing that preserving AM radio in new vehicles is essential for public safety and emergency communications. Joining the broadcasters were representatives from More

MBC Launches 2026 Front Row Charity Auction
Front Row Experiences Charity Auction
Front Row Experiences Charity Auction
The Museum of Broadcast Communications (MBC) has launched its 2026 Front Row Experiences Charity Auction, offering fans the chance to bid on more than 50 exclusive experiences with broadcasters, entertainers, athletes and media personalities while raising funds to support More

NRG Media Closes on Sale of Omaha Stations
NRG Media
NRG Media
Usher Media has completed its acquisition of five radio stations serving the Omaha-Council Bluffs market from NRG Media, finalizing a transaction first announced in February. The deal includes KOIL-AM (1290) in Omaha, KOPW-FM (106.9) in Plattsmouth, KOZN-AM (1620) and KZOT-AM (1180) 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