Emmis shareholders table vote on convertible preferreds, as promised

By Susanna Moon

Chicago, Aug. 14 - Emmis Communications Corp. shareholders voted Tuesday to adjourn the meeting on the proposed changes to the company's 6.25% series A cumulative convertible preferred stock until after Labor Day.

The meeting has been moved to 10 a.m. on Sept. 4, and there were no votes cast on any of the proposals, according to an 8-K filing with the Securities and Exchange Commission.

As noted on Aug. 2, some holders of the convertible preferreds are seeking to enjoin a shareholder vote on proposed amendments to the terms of the preferreds under a lawsuit in the U.S. District Court for the Southern District of Indiana.

At the end of a preliminary injunction hearing on Aug. 1, though, Emmis agreed to defer any shareholder vote on the amendments until after Labor Day.

The company then agreed to convene the special shareholders' meeting on Aug. 14 as scheduled but said it would promptly adjourn the meeting.

According to the previous SEC filing, the court will issue its ruling on the preliminary injunction on Aug. 31.

Emmis is an Indianapolis-based diversified media company.

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