September 30, 2005 |
Broadcaster Emmis Communications Corp. of Indianapolis agreed to sell four television stations for $259 million and said it would invest $100 million in its chief executive's bid for the Washington Nationals baseball team. Buyout firm Blackstone Group and SJL Broadcast Group will acquire Emmis' stations in Portland, Ore.; Honolulu; and Wichita and Topeka, Kan., Emmis said.
June 20, 2006 |
Emmis Communications Corp., a radio and TV broadcaster, hired investment banks Morgan Stanley and Lazard Freres & Co. to advise the company on an offer by Emmis Chief Executive Jeffrey Smulyan to take it private. Smulyan on May 8 offered to pay $15.25 a share, or $567 million. Indianapolis-based Emmis owns radio stations in New York, Chicago and Los Angeles, plus Los Angeles magazine.
August 5, 2006 |
The chief executive of Emmis Communications Corp. said he had withdrawn a 3-month-old offer to take the Indianapolis-based radio and television broadcaster private because he could not reach an agreement with the board of directors. The company's shares, which soared after CEO Jeffrey Smulyan publicized his roughly $567-million offer in May, fell to $13 in extended trading, down 10% from their close of $14.52. Smulyan formed Emmis in 1980 and took it public 14 years later.
May 9, 2006 |
A week after losing a bid to buy the Washington Nationals baseball team, the chief executive of Emmis Communications Corp. said Monday that he would try to purchase his company in a deal valued at $567 million. If the buyout succeeds, Jeffrey H. Smulyan will take the Indianapolis-based media group into the private sector even as it struggles to regain profit from sluggish advertising sales. Smulyan, who already owns nearly 17% of the company, made a nonbinding offer of $15.
August 13, 2004 |
A Midwest communications company has agreed to pay $300,000 in indecency fines in a settlement with the Federal Communications Commission. As part of the settlement, Indianapolis-based Emmis Communications Corp. agreed that segments of a morning radio show, "Mancow Morning Madness," that described sex in crude and graphic terms were indecent and that it would clean up its programs.
January 21, 2006 |
Walt Disney Co. may pick a buyer for its ABC Radio assets within a week or two, sources close to the deal said Friday, and Kohlberg Kravis Roberts & Co. and Entercom Communications Corp. may end up bidding against each other to determine a winner. The protracted sale of ABC Radio has drawn several other bidders, including radio rivals Emmis Communications Corp., Cumulus Media Inc. and Citadel Broadcasting Corp.