Journal Communications said it bought back all the outstanding shares...
Journal Communications said it bought back all the outstanding shares of its Class C common stock for about $6.2 million. The class C shares were issued at the company’s initial public offering in 2003 and carried extra voting rights and…
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the rights to approve or receive a premium in the event of a strategic transaction, it said. The transaction “simplifies our capital structure and allows us to remove a class of stock that had enhanced voting and other rights,” said Chairman Steven Smith.