This marks the fifth time that the meeting with shareholders adjourned because they couldn’t reach a quorum.
Emmis CEO Jeff Smulyan wants to go private but a small number of preferred shareholders are blocking the private access road.
A new date for another try has not been set. Emmis closed today, Friday 8/27/10, at $2.02. The offer on the table is $2.40 per share.
For Friday stock closings: Broadcasters cash in as Fed’s Ben Bernanke floats all Wall Street boats – 08/27/10
RBR-TVBR observation: There is a very old saying in the deal world and it goes likes this, “Longer the fish sits on the table the more it begins to smell and goes bad.” You can pick your read and follow along:
Emmis privatization: Fourth time no more charmed than the third
Breaking: Another one-week delay for Emmis vote
Postponement #3 for Emmis shareholders vote
Emmis shareholders waiting…again
Will third time be the charm for Emmis vote?
Emmis vote bumped to Friday the 13th
Emmis shareholders waiting for news
Emmis and Jeff Smulyan extend tender offers
Emmis stock recovers some ground
Emmis adjourns shareholder meeting without vote
Emmis buyout outcome still a mystery
No word from Emmis on eve of shareholder vote
Judge refuses to block Emmis buyout
Yet another lawsuit over Emmis trying to go private
Jeff Smulyan facing Emmis options
RBR-TVBR First: Preferred shareholders opposing Emmis buyout
Emmis files preliminary proxy for going private
Smulyan tender for Emmis stock extended over a month
Emmis buyout tender to be launched next week
Emmis board says buyout is fair and the only bid possible
Emmis employees told Jeff is still going to be the boss
Emmis board endorses going private transaction
