You could have waited for me to post it. And you could have credited Inside Radio with the story.
I own 3% of the company. I can't speak for anyone else, obviously. Some may feel that a financially stronger EMMS, with elimination of a slug of preferred stock, at roughly 25 cents on the dollar of "claim" (along with other recent moves), justifies the common's being worth more than $2.40. I just simply wanted to go on the record, as a material holder, and as someone who was part of a class action to stop the deal at $2.40, last year, to say that I would now SUPPORT it, if it comes relatively promptly. Why? Because, when EMMS announced the original deal to go private at $2.40, 1 1/2 years ago, ETM was at $15 (now it's $5), CMLS was at $5 (now it's $3), and ROIAK was at $5 (now it's $1.35). So, as I stated in the article, the market has changed, adversely, in terms of how it values radio stocks. And yet, with the financial moves EMMS is making, I believe the CEO would be in more of a position than ever, upon those moves being completed (especially with regard to the preferred stock), to reapproach a going private transaction, and have it succeed. I'd like to see that happen...simply because I'd love to be able to make my money, move on, and redeploy the capital in, say, ETM at $5, and ride that one back up to $8-10 (probably), over the next year.
If not, I see EMMS as a $2-4 stock, anyway, in 1 to 2 years. But I'd much rather take a bird in the hand, at $2.40 or higher, in the near future.