Emmis Faces Shareholder Suits Over Bid To Go Private

Law360, New York (May 12, 2006, 12:00 AM EDT) -- Struggling radio broadcasting company Emmis Communications Corp. said this week that its shareholders have filed two lawsuits to protest a $567 million offer by the company’s top executive to take the company private.

Emmis operates the ninth-largest publicly traded radio portfolio in the United States based on total listeners, and owns and operates 7 FM radio stations serving the nation’s top three markets—New York, Los Angeles and Chicago.

The company has been under pressure to generate cash in recent months, selling off 14 of its original...
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