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Emmis Communications Corp. Message Board

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  • longtimefollower longtimefollower Nov 10, 2010 7:24 PM Flag

    Check out the last few lines of the Balance Sheet

    Oh, is it really that simple. The CEO tried to buy out the company at $2.40, and the stock is now 73 cents. Meanwhile, radio revenues are only BETTER than they were when this deal was first announced. It's not as clear cut as you think it is, that the banks are going to own it. I still think the market is overly discounting the stock, and ignoring the possibility that one way for Alden to settle with Smulyan is to come back in and finance his going private transaction, and maybe the pfd. holders will go for a somewhat lower price, since that stock is down, and maybe the common holders will go for $2, since that price is down. I would hardly be surprised to see that happen. I think this is a good speculation at current prices, but since it broken down from the 76-82 cent support range, I'm waiting for lower prices before I increase my position more.

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