Radio Station Owners

Emmis posts big profit, but revenue shrinks

January 12, 2012
Scott Olson
The media company's $110.9 million quarterly profit was largely due to the sale of three radio stations and the repurchase of preferred stock. Revenue fell 11 percent.
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The Fan winning sports-talk radio war by wide marginRestricted Content

December 17, 2011
Anthony Schoettle
Radio station WFNI-AM 1070 is challenging some FM music stations in the battle for male listeners.
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Radio vets Cosby, Stuck among Clear Channel layoffs

October 27, 2011
Cory Schouten
Several local radio employees lost their jobs this week in a round of layoffs by San Antonio-based Clear Channel, the parent company of WRZX-FM 103.3, WFBQ-FM 94.7 and WNDE-AM 1260.
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Emmis finds silver lining despite deep losses in 2Q

October 13, 2011
Anthony Schoettle
Indianapolis-based Emmis Communications Corp. announced Thursday that second-quarter revenue slipped from last year and losses nearly quadrupled. However, the sale of three radio stations for $120 million, a reduction in debt and increases in advertising give executives hope.
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Struggling Emmis faces NASDAQ delisting again

September 2, 2011
 IBJ Staff
The day before closing on a $120 million sale of three radio stations, Emmis was warned about non-compliance with NASDAQ's minimum-price rule for the third time in two years.
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Emmis reports larger quarterly loss, higher revenue

July 13, 2011
Scott Olson
For the quarter ended May 31, Emmis suffered a loss of $4.5 million, or 12 cents a share, compared with a loss of $3.9 million, or 10 cents a share, in the same period last year.
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Emmis selling three major radio stations

June 21, 2011
 IBJ Staff
Emmis Communications Corp. has reached an agreement to sell three big-market radio stations to a partnership involving a private equity firm and a prominent media executive, the company disclosed Tuesday morning.
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Emmis reports smaller annual loss on higher revenue

May 10, 2011
Scott Olson
The Indianapolis-based media company said an improving economy helped it cut its losses as revenue from radio operations grew 4.3 percent. Still, the company continues to struggle with a heavy debt load.
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Emmis gets additional year to repay debt

March 30, 2011
Scott Olson
Lender Canyon Capital Advisors LLC agreed to extend the maturity date on $182.9 million in senior bank debt from November 2013 to November 2014, giving Emmis additional breathing room to operate.
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Emmis likely escapes NASDAQ-delisting danger

February 11, 2011
Scott Olson
Stock in the Indianapolis-based media company closed above the necessary threshold of $1 per share for 10 consecutive business days on Thursday, meaning it should be back in compliance with NASDAQ rules.
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Emmis decision to pay CEO legal fees illegal, financier says

February 7, 2011
Scott Olson
Alden Global Capital, a firm Emmis CEO Jeff Smulyan is suing for backing out of a deal to finance his efforts to take Emmis private, charges that a $200,000 loan Emmis made to pay his legal fees violates the Sarbanes-Oxley Act.
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Cumulus Media to buy out radio partners for $740M

February 1, 2011
 IBJ Staff
Atlanta-based Cumulus Media Inc. said late Monday it has agreed to acquire its partners' interest in a venture that owns 32 radio stations in nine cities, including three in Indianapolis. No local changes are expected.
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Emmis still facing NASDAQ-delisting danger

January 26, 2011
Scott Olson
After an eight-day trading stretch in which its shares traded above $1 each, Emmis stock fell to 97 cents on Tuesday, below an important NASDAQ exchange threshhold.
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Emmis surges as industry anticipates radio sale

January 13, 2011
J.K. Wall
Emmis Communications’ share price soared 42 percent on Wednesday, a day after the company reiterated that it is “actively pursuing” the sale of some assets. CEO Jeff Smulyan says it's impossible to call a station sale imminent, but shares gained another 13 percent on Thursday.
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Emmis reports $1.6 million quarterly loss

January 11, 2011
The Indianapolis-based media company suffered a loss in the fiscal third quarter despite a 3-percent rise in revenue.
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Emmis loss shrinks as radio stations produce more cash

October 15, 2010
J.K. Wall
The Indianapolis-based media company announced this morning that it lost $2.3 million in the latest quarter, down from a whopping $135.6 million in the same period a year earlier.
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Failed bid to take Emmis private costing millions

September 16, 2010
Scott Olson
Emmis CEO Jeff Smulyan's JS Acquisition LLC has racked up takeover expenses of $10.2 million, a figure that's sure to escalate now that JS Acquisition is suing its one-time financier for backing out of the deal.
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Emmis' Smulyan wants FM radio tuners in cell phonesRestricted Content

September 11, 2010
Anthony Schoettle
Congress is expected this fall to debate the idea of mandating the inclusion of tuners, a move that could boost the struggling radio industry.
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UPDATE: Large debt load will continue to weigh on Emmis

September 9, 2010
Scott Olson
Emmis, which has been awash in red ink, must contend with more than $340 million in debt after CEO Jeff Smulyan failed in his attempt to purchase the company and take it private.
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Emmis CEO calls off bid to take firm private

September 9, 2010
Scott Olson
Emmis Communications Corp. will remain a public company after executives announced Thursday morning that CEO Jeff Smulyan has abandoned his efforts to buy the Indianapolis-based media firm.
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Another day, another delay for Emmis going-private vote

September 3, 2010
Cory Schouten
Emmis Communications CEO Jeff Smulyan delayed a shareholder vote Friday morning, for the eighth time overall and second time in 24 hours, on a proposed deal to take the company private.
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Smulyan delays Emmis buyout vote for 7th time

September 2, 2010
J.K. Wall
Emmis Communications CEO Jeff Smulyan delayed a vote again on his plan to take the company private. But shareholders of the Indianapolis-based radio company will gather Friday morning at 8:30 to decide the fate of Smulyan's $90 million buyout bid.
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Equity firm withdraws support for revised Emmis deal

August 30, 2010
Scott Olson
A Monday morning announcement from Alden Global Capital puts CEO Jeff Smulyan's efforts to take Emmis private in real jeopardy. His attempts to sway preferred shareholders already have failed five times.
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Emmis privatization effort still on hold

August 27, 2010
Anthony Schoettle
Local media company still discussing deal with dissident shareholders, who refused to vote Friday evening. A new date for another shareholders meeting is to be announced Monday.
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Emmis again delays vote to go private

August 20, 2010
Anthony Schoettle
The media company schedules another meeting for Aug. 27—what will be the fourth in five weeks—in hopes of gaining enough votes to take company off the public market.
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  1. Members must realize if you stop paying your dues you will lose. Why else would your employer honor the rtw bill. Before you take this step think about what you may be giving up in the long run. Very little of your dues money goes to any dem candidate. YOu will never know how much your republican employer gives his party with money he could be paying the employee. Who will step up and demand better wages or benefits if you have no representation. Union is the way for a better life. Our carpenter union offers a 4 year apprenticeship and 2 year degree from Ivy Tech all paid for with union dues . This is a great opportunity for kids who cant afford schooling after high school. The same opportunity is there for any person,any age, either sex to provide a better living for their family. Pension, anuity, health insurance all for your dues. How is this a bad choice.

  2. The FDIC is funded by assessments paid by banks, not taxpayers. That is not to say that bank customers don't ultimately pay the cost because, in the end, banks don't survive if they don't make profits.

  3. SCB Bank's failure is expected to cost the government $33.9 million,dont you mean middle class another bailout our government has no money

  4. Diogenes, the company did not call "pro-life" statements inflammatory. The IBJ article used the words "pro life."

    All, the company did, is what it should do which is apologize profusely for offending people with a program that offered statements that support an infamous apartheid proponent, Dr. Verwoerd, suggest that sometimes rape is justified, and quote Biblical text to people, not looking for it.

    If this is what you think is "insanity" then more companies need to behave insanely.

  5. I totally disagree with $45mil being given to the state Attorney General's office. That money is a waste. All of the money should go to help the homeowners & the people who were foreclosed on. Why such a big percentage to state govt? They'll get to start another agency staffed with people who have new-found power & don't care about the people they serve. As soon as the program was announced, I knew the states would end up with a huge chunk of the money for themselves that would just be squandered. Or maybe Mitch Daniels will just happen to "find" another big chunk of money that was "posted in the wrong section of the state's books."

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