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Emmis Communications Corp. Message Board

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  • pjv2xyw9dww4b6 pjv2xyw9dww4b6 May 26, 2012 1:20 AM Flag

    Herb and Jeff bought 105,600 more at $1.70.


    Of what possible use can these shares be to them unless it's part of a slow campaign to go private?

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    • Well, they could simply think them to be undervalued, and they are looking to increase their exposure, and keep it a public company, and perhaps expect, over time, as Emmis's "sexy" initiatives come to play, that the stock will trade considerably higher in the long term...and perhaps, in the medium term, that the company's paying down debt, and refinancing debt, will allow EMMS to show material profitability, on a bottom line basis, going forward, which will make it a lot easier for the Street to "understand" the company...rather than looking at it, first and foremost, formerly, through the lens, as a "hyperleveraged" company with inadequate cash flows, and untenable covenants.

      I think it's probably worth at least $2.50, in a going private, but I don't expect that to happen...and valuation remains, as always, dependent on what happens to the remaining 900K worth of preferred stock, and when or if it gets settled. If it stays public, I think it trades up to $2.00-2.25, over the next 12 months.

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