"Investment Group Asks Emmis Board To Reconsider Smulyan Buyout"

[700WLW]

"Investment Group Asks Emmis Board To Reconsider Smulyan Buyout"

"Why would the Special Committee of the Board of Directors of a struggling public company in a struggling industry spurn repeated efforts to take the company private at a substantial premium?"

http://fmqb.com/Article.asp?id=280485

"Univision Shareholders Approve Sale Of Company"

"The group also agreed to assume Univision's $1.4 billion in debt, which actually increases the total value of the deal to $13.7 billion."

http://fmqb.com/Article.asp?id=280524

I know that Emmis is part of the HD Radio Cartel, but I bet Univision has something to do with it, too. I wonder, what this means to HD Radio, and almost as importantly, David Eduardo ? Univision just laid off 260 people, which Eduardo tried to down-play, stating they were just support personnel - yea, right ! Let's hope iBiquity is next !

 

[700WLW]

As part of the HD Radio Cartel, looks like Emmis hasn't done too well, this past year:

http://tools.morningstar.com/charts/Mcharts.aspx?Country=USA&Security=EMMS&sLevel=A

 

[OldGringo]

As part of the HD Radio Cartel, looks like Emmis hasn't done too well, this past year:

Emmis got hit by a double whammy in its two major makrkets. First, KXOL with its reggaetón format peeled a huge percentage of the Hisapnic listeners form KPWR in LA, and then the Star / Buck Wild episode affected one of the New York stations. Finally, they had to change slipping country KZLA in LA to a new format.

In LA, the KPWR numbers are back up, and the new KZLA (KMVN) format seems to be taking off with local suerstar Rick Dees in mornings. In NY, ratings haveleveled since Clear had to go through the same talent issue with the same folks that dinged Emmis.

The Emmis management is very programming driven. Rick Cummings, the radio president, is a long-time and very successful programmer, one of the few programmers at the helm of a major group.

HD installation costs are capital expenses, not operating expenses. They do not affect EBITDA. Nor does a small investment made in iBiquity half a decade ago.

Criticizing a company for being at the forefront of a new technology is, simply, absurd. Go back to DXing while it lasts.

 

[OldGringo]

"Investment Group Asks Emmis Board To Reconsider Smulyan Buyout"

"Why would the Special Committee of the Board of Directors of a struggling public company in a struggling industry spurn repeated efforts to take the company private at a substantial premium?"

Going private, when financing is available, is a very popular thing today. It cuts corporate expenses considerably for small public companys that have major SEC and SarbOx costs due to being public. There have been nearly $200 billion dollars invested in taking companies private just this year.

Going private only means that the company can put together a plan that satisfies an investment group so that it does not have toplay to the vicissitudes of the stock market, analysts and short-term expectatins.It is generally a very GOOD thing, not a bad one.

"Univision Shareholders Approve Sale Of Company"

"The group also agreed to assume Univision's $1.4 billion in debt, which actually increases the total value of the deal to $13.7 billion."

See above. Univision is going private as the controlling shareholder prepares to retire from active management. Again, a good thing.

Debt to market cap (or market value) of 12% is very low. McDonald's, a very successful company, owes $10 billion on a $54 billion market valuation, just as one example. The Univsion debt is relatively low for a company its size. Remeber, "don't use your own money" is the rule of business. If you can borrow at 6% and get an ROI of 20%, using someone else's money, you have the basis for a very sound business decision. Look at a sampling of US coroprations and look at debt as a percentage ofr market cap or the D/E ratio and you will see that nearly every company has debt... I think it is 488 of the S&P 500, in fact.

I know that Emmis is part of the HD Radio Cartel, but I bet Univision has something to do with it, too. I wonder, what this means to HD Radio, and almost as importantly, David Eduardo ? Univision just laid off 260 people, which Eduardo tried to down-play, stating they were just support personnel - yea, right ! Let's hope iBiquity is next !

Univision did not "just lay off" people. You are referring to an event that did not even happen this year to make a point that is pointless. TV networks (the layoff was not in radio) often adjust this way when shows come to an end or production is outsourced. As I said in another section where you posted this same collection of tripe, you would not expect the porducers of Cheers to still have the entire crew of the show still on payroll years after the show has ended. This is the same thing as happens at every TV network or show production company, and is hardly indicitive or any problem at any company involved. You are making mountains out of molehills.
[/quote]

 

[700WLW]

"Investment Group Asks Emmis Board To Reconsider Smulyan Buyout"

"Why would the Special Committee of the Board of Directors of a struggling public company in a struggling industry spurn repeated efforts to take the company private at a substantial premium?"

Going private, when financing is available, is a very popular thing today. It cuts corporate expenses considerably for small public companys that have major SEC and SarbOx costs due to being public. There have been nearly $200 billion dollars invested in taking companies private just this year.

Going private only means that the company can put together a plan that satisfies an investment group so that it does not have toplay to the vicissitudes of the stock market, analysts and short-term expectatins.It is generally a very GOOD thing, not a bad one.

"Univision Shareholders Approve Sale Of Company"

"The group also agreed to assume Univision's $1.4 billion in debt, which actually increases the total value of the deal to $13.7 billion."

See above. Univision is going private as the controlling shareholder prepares to retire from active management. Again, a good thing.

Debt to market cap (or market value) of 12% is very low. McDonald's, a very successful company, owes $10 billion on a $54 billion market valuation, just as one example. The Univsion debt is relatively low for a company its size. Remeber, "don't use your own money" is the rule of business. If you can borrow at 6% and get an ROI of 20%, using someone else's money, you have the basis for a very sound business decision. Look at a sampling of US coroprations and look at debt as a percentage ofr market cap or the D/E ratio and you will see that nearly every company has debt... I think it is 488 of the S&P 500, in fact.

I know that Emmis is part of the HD Radio Cartel, but I bet Univision has something to do with it, too. I wonder, what this means to HD Radio, and almost as importantly, David Eduardo ? Univision just laid off 260 people, which Eduardo tried to down-play, stating they were just support personnel - yea, right ! Let's hope iBiquity is next !

Univision did not "just lay off" people. You are referring to an event that did not even happen this year to make a point that is pointless. TV networks (the layoff was not in radio) often adjust this way when shows come to an end or production is outsourced. As I said in another section where you posted this same collection of tripe, you would not expect the porducers of Cheers to still have the entire crew of the show still on payroll years after the show has ended. This is the same thing as happens at every TV network or show production company, and is hardly indicitive or any problem at any company involved. You are making mountains out of molehills.

No, major broadcast stocks are off 30% - 60% this past year. Look at Clear Channel's stock over the past five years, from $51 to $31:

http://quote.morningstar.com/Quote/Quote.aspx?ticker=CCU&SC=Q

"Investment Group Asks Emmis Board To Reconsider Smulyan Buyout"

"Why would the Special Committee of the Board of Directors of a struggling public company in a struggling industry spurn repeated efforts to take the company private at a substantial premium?"

http://fmqb.com/Article.asp?id=280485

Emmis stock from a 5-year high of $30, to currently $12:

http://quote.morningstar.com/Quote/Quote.aspx?ticker=EMMS&SC=Q

Some fabrication, hugh !

 

[700WLW]

"Investment Group Asks Emmis Board To Reconsider Smulyan Buyout"

"Why would the Special Committee of the Board of Directors of a struggling public company in a struggling industry spurn repeated efforts to take the company private at a substantial premium?"

Going private, when financing is available, is a very popular thing today. It cuts corporate expenses considerably for small public companys that have major SEC and SarbOx costs due to being public. There have been nearly $200 billion dollars invested in taking companies private just this year.

Going private only means that the company can put together a plan that satisfies an investment group so that it does not have toplay to the vicissitudes of the stock market, analysts and short-term expectatins.It is generally a very GOOD thing, not a bad one.

"Univision Shareholders Approve Sale Of Company"

"The group also agreed to assume Univision's $1.4 billion in debt, which actually increases the total value of the deal to $13.7 billion."

See above. Univision is going private as the controlling shareholder prepares to retire from active management. Again, a good thing.

Debt to market cap (or market value) of 12% is very low. McDonald's, a very successful company, owes $10 billion on a $54 billion market valuation, just as one example. The Univsion debt is relatively low for a company its size. Remeber, "don't use your own money" is the rule of business. If you can borrow at 6% and get an ROI of 20%, using someone else's money, you have the basis for a very sound business decision. Look at a sampling of US coroprations and look at debt as a percentage ofr market cap or the D/E ratio and you will see that nearly every company has debt... I think it is 488 of the S&P 500, in fact.

I know that Emmis is part of the HD Radio Cartel, but I bet Univision has something to do with it, too. I wonder, what this means to HD Radio, and almost as importantly, David Eduardo ? Univision just laid off 260 people, which Eduardo tried to down-play, stating they were just support personnel - yea, right ! Let's hope iBiquity is next !

Univision did not "just lay off" people. You are referring to an event that did not even happen this year to make a point that is pointless. TV networks (the layoff was not in radio) often adjust this way when shows come to an end or production is outsourced. As I said in another section where you posted this same collection of tripe, you would not expect the porducers of Cheers to still have the entire crew of the show still on payroll years after the show has ended. This is the same thing as happens at every TV network or show production company, and is hardly indicitive or any problem at any company involved. You are making mountains out of molehills.

OldGringo, here's another one:

"Banc of America thinks Emmis Communications' (NASDAQ:EMMS) results scheduled for Oct 10 will be ugly. That's what they are saying right in the title... Domestic radio revenue likely will be well short of their $72M estimate on key market weakness and recent programming changes."

http://notablecalls.blogspot.com/2006/10/calls-of-note-part-3_05.html