Delayed Emmis Buyout Vote Set for Today

Emmis chairman/CEO and president Jeff Smulyan’s tender offer with JS Acquistion, Inc. was originally due to expire on September 2. The deadline for his latest buyout offer is today at 5 p.m.

Reports say Smulyan and Indianapolis-based Emmis are maintaining talks with Alden Global Capital. At issue is Smulyan’s plan to take his Indianapolis-based radio company private. A group of eight shareholders, totaling about 38.3 percent, have stated that they would vote against the buyout.

Emmis, in a press release said, “Although we believe that an agreement among the various parties remains unlikely, we believe the extension is warranted due to the continuing discussions.”

Emmis owns three radio stations in New York: WRXP/101.9 FM, WQHT/Hot 97, and WRKS/98.7 Kiss FM.