On January 10, 2019, Voltari Corporation announced that its Board of Directors has formed a special committee of independent directors to consider an offer by High River Limited Partnership, which together with its affiliates beneficially owns about 52.69% of the outstanding shares of common stock of Voltari Corporation and about 98.0% of the outstanding shares of 13% Redeemable Series J Preferred Stock of Voltari, to purchase the remaining shares of Voltari common stock for $0.58 per share in cash.