With the HY market as open as it's ever been (and Entercom's recent high yield deal at 6x leverage) doesn't it make sense for Emmis to deal with the 2014 bank debt and preferred all at once. If that's the case isn't the stock a very cheap option right here? Thoughts longtimefollower?
Well, I personally would like to see EMMS deal with the preferred holders first, and come up with a price to buy them out at, with a pledge to get the requisite financing in "x" number of months, and pay "y" interest, in the meantime. But it could end up being as a "consolidated" deal, too, I suppose, as you indicate. Many options here. I'm not worried. I'm just "coasting." Sure, I'd like it all to happen sooner rather than later, but I trust management is doing everything they can for the shareholders...so I just sit back, and wait.