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Jeff Smulyan, CEO of Emmis Communications, will to take the company private.
The Indianapolis-based media company, which owns radio stations in the largest markets and a magazine publishing division, went public in 1994.
JS Acquisition, a group led by Smulyan, and Alden Global Capital, a major stockholder of Emmis signed a letter of intent that would allow JSA to purchase all the shared of Class A common stock of Emmis for $2.40 a share, slightly hire than what the stock is currently trading.
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