CEO Jeffrey Smulyan want to make Emmis Communications -- the Indianapolis-based radio broadcaster he founded and runs -- a private business rather than a publicly traded one, reports the
Indianapolis Star. This round, his offer, $2.40 a share, is a fraction of the $15.25 a share he was prepared to pay in 2006 in a previous attempt to take Emmis private. Emmis' share price has
declined for most of the past decade. But Smulyan's offer is a two-cent premium over Emmis' closing price of $2.38 Monday and 10 times the stock's 52-week low of 24 cents from last summer.
