Pathway Productions, one of the city's highest-profile video production firms, has a new owner, a new CEO and a new plan to blaze a trail to prosperity. Michael Husain, who founded the company from his basement in 1996, earlier this year quietly sold a majority stake to Mays Chemical Co. President William Mays, who in turn named Jerald Harkness the new CEO.

For more than two years, Smulyan, 61, has been unflaggingly optimistic during quarterly conference calls. But since early 2007, Emmis' stock has fallen 84 percent, shrinking the company's stock market value from $307 million to $48 million. The troubles have cast uncertainty over one of Indianapolis' highest-profile businesses.

Indianapolis International Airport officials hope to double advertising revenue, pushing it past $1 million, when the midfield terminal opens in November. That income, officials said, is important because it helps ease pressure on cash-strapped airlines, allowing them to focus on offering more flights. The airport relies on non-airline revenue, such as food sales and advertising, for about 60 percent of its revenue.

Longtime sports/talk station WNDE-AM 1260 has beaten back newcomer WFNI-AM 1070 in a critical listener demographic despite WFNI's extensive promotion of hosts Eddie White and Indianapolis Star sports columnist Bob Kravitz.