Regent Communications Sued


A California investment firm has sued radio company Regent Communications Inc. because it says the company won’t schedule a special shareholders meeting and give it stockholder lists. The firm, Riley Investment Management, which is also one of the company’s biggest shareholders, wants to nominate four other directors to the Regent board and pressure it from the inside to sell. In response to a question last week, Regent CEO Bill Stakelin didn’t mention Riley but implied that he would act in the interests of long-term shareholders. Riley just bought its shares recently, but pointed out that longtime shareholders also supported the special meeting.