No, the company has q ton of assets. However, CEO Jeff Smylan owns the super voting class B shares, and won't sell or buy. Radio is also out of favor. The assets are probably worth $30/share, and there is very little debt.
Not worthless - ALL stocks will tank more the next 6-12 months.
Buy RYVNX as a parchute.. a no brainer I feel..
Emmis radio(s) is going to FM talk format in 2008 and will take a while to get built up. It's a solid company and a good buy.. I'll get another 1k this year. I'm going long per broker - they love this stock, but he warned it may not be at bottom dollar yet with current conditions (the sky IS falling)..