Highest volume day since Jan. 13, 2011.
There's no Form 4 yet, but it's possible that Alden's sold their remaining 726K common shares on Wed.http://biz.yahoo.com/t/79/8291.html
The link you posted was for sales in November 2010 (a year ago).According to their 13F filed on 11/14/2011 , Alden does not hold any common shares of Emmis.http://www.sec.gov/Archives/edgar/data/1492343/000090266411001576/p11-1817form13fhr.txt
Didn't their last form 13F (as of 9/30/11) already show they had no position in the common??