Following the Emmis earnings call on Thursday a shareholders meeting was held and a four-for-one reverse stock split was approved. The stock split was designed to prevent a delisting of the company’s stock from NASDAQ. It goes into effect today and combines every four shares of Emmis Class A common stock into one to boost the company’s share price. Emmis’ closing stock price on Thursday was $0.79. It also reduces the total number of shares to about 12 million.
