Emmis Communications Corporation
EMMS today announced the final results of its modified Dutch
auction tender offer, which expired at 5:00 p.m., New York City time, on
Friday, December 30, 2011.
In accordance with the terms and conditions of the tender offer, Emmis has
accepted for purchase 164,400 shares of its 6.25% Series A Cumulative
Convertible Preferred Stock, par value $0.01 per share (the "Preferred
Shares"), at a price of $15.56 per share, for an aggregate cost of
approximately $2.6 million, excluding fees and expenses relating to the tender
offer. These shares represent approximately 6.3% of the Preferred Shares
outstanding as of December 30, 2011.
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