The second time’s a charm for Jeff Smulyan, chairman and CEO of Emmis Communications. Smulyan’s second bid to take the company private was approved Tuesday evening (May 25) by Emmis’ board of directors. A committee of disinterested directors of Emmis also recommended approval of the offer and merger agreement.
The Indianapolis-based owner of radio stations in the nation’s largest markets and a magazine publishing division went public in 1994.
Under the terms of the merger agreement, valued at about $90 million, JS Acquisition, a company formed by Smulyan, will offer to buy all outstanding shares of Class A Common Stock of Emmis for $2.40
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