Jeff Smulyan, CEO of Emmis Communications–which owns TM–is tired of Wall Street’s attitude toward media stocks, so he’s taking the company private. Might Belo consider a similar strategy? Emmis owes $1.17 billion of debt on revenues of $618 million. Belo owes $1.24 billion on revenues of $1.5 billion, and its stock at below $18 is in the tank despite good fundamentals. Maybe the market’s devaluation of media companies right now is a good opportunity for those who know a company’s true value.
CORRECTION: Emmis’ debt is $726 million, not $1.17 billion. Still.
