Let's HOPE the Fields don't try what CXR and HTV are trying.
Super lowball offers for HTV and CXR are MORALLY CRIMINAL, vis a vis the minority shareholders. This 75,000 share shareholder of ETM will take not a penny less than $5, in a buyout of ETM. and that's assuming any offer occurs in the next 30 days. Other than that, my intent is to HOLD my shares, and wait for what I see as the inevitable rise back to $10-15, in 18-24 months.
They're going to get sued if they try to take this thing out for anything less than $5....MINIMUM. The reality is that the underlying company, absent charges, is going to earn something on the order of 70-90 cents this year, in bottom line EPS. When advertising recovers, they are back to earning probably $1.50 in EPS...and the stock is going to sell for $20-30 again. That may take 2-3 years, so I'm willing to accept a buyout at $5 now, so that I can redeploy the capital elsewhere. Otherwise, I'm willing to hold this thing for the long term. Of course, other shareholders may feel differently than me (especially those who bought in at much higher prices). Personally, I think that $5 is FAIR in today's environment. But others could readily argue that they want to KEEP their shares, and that a price as high as $8-10 is "fair."
The reality is that the market is currently DRASTICALLY undervaluing radio companies (along with television and newspaper stocks as well). So the notion that the Coxes and Hearsts (and Fields) of the world can just trapse in and pay 100% above the current market price, when a stock like ETM is down like 98% from its 5 year high, is just NOT going to fly. In short, there WILL be lawsuits, and there WILL be injunctions sought, and there WILL be appraisal rights pursued, if any offer for ETM is not a SIGNIFICANT MULTIPLE of the current stock price. FIELDS BE WARNED. I want to KEEP MY STOCK, because I think I'm going to make a FORTUNE off of it, over the next few years. Don't try to come in and force me out, unless you are willing to pay something remotely close to fair. I say $5. Others might say $8-10, very readily.