its going down because ure precious company overpaid to yfm for the la stations... stupid thing was to pay 3 mln(if im correct) his own shares. now yfm is liquadateing to end hes busines... so he dumps evc shares
I wouldn't be too sure that it's big city selling their evc shares. the sale of the stations hasn't yet been approved by the commish. no money (or other consideration) is allowed to change hands until that approval is granted. you're on the right track though. expect a massive dump after the approval.
have a question for u: how long does that approval of a deal take. the deal was announced already in 23rd dec. Then again since YFM doesnt have neither that 100mln from entravision and neither those 3.77 million shares of Entravision common stock... and the price has fallen alrady since then around 30%. I�d concider seriously dumping my long shares, since as U(anotherobserver)are convinced that big city is not the one whos selling the shares... It would mean that: if already speculations of that 3 LA stations deal has made the stock fall so much since the announcement... it�ll fall at least as much after approval