Emmis Communications states in an SEC filing that it has agreed to pay up to $200,000 of the cost of suing Alden Global Capital over the abandoned deal to take Emmis private. The lawsuit was filed by JS Acquisition, owned by Emmis CEO Jeff Smulyan. JS and Emmis have hired the law firm of Bose McKinney & Evans to prosecute the litigation.
If and when damages are recovered from Alden, Emmis will be first in line for recouping cash.
