Radio

Local firm making noise with app for radio stations

February 24, 2011
Scott Olson
Boost Media & Entertainment's MyStationApp targets independent radio stations such as WTTS-FM 92.3 in Bloomington, which is having success with the product.
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Financier in botched deal sues Emmis over loan to Smulyan

February 18, 2011
J.K. Wall
In uncommonly sharp language, attorneys for New York-based Alden Global Capital accused Emmis' board of “a blatantly self-dealing transaction” that allows Smulyan to “pursue a personal litigation vendetta” against Alden.
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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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LEADING QUESTIONS: Abdul airs take on punditry, influence

February 9, 2011
Mason King
Shabazz_WatchVideoHow is talk-radio host Abdul-Hakim Shabazz like the Wizard of Oz? Were his barbs about an IPS official "over the top"? Does he really have the governor's ear? He's taking your calls.
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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 faces NASDAQ delisting danger again

November 7, 2010
 IBJ Staff
Emmis Communications Corp. spent much of last year in danger of being delisted from the NASDAQ stock exchange. Now, it's back in the same precarious position.
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New tool shuffles radio ratingsRestricted Content

October 23, 2010
Anthony Schoettle
A new method of measuring radio listening habits has shaken up local station ratings, sending radio operators scrambling to re-evaluate formats and ad pricing.
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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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Soldiering on, Emmis' Smulyan mulls station sales to cut debtRestricted Content

September 25, 2010
Greg Andrews
The CEO thinks Emmis could cast off some big-market stations, raising ample cash to pay off the company’s bank debt before it comes due in November 2013.
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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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Smulyan-led firm sues backer over failed Emmis deal

September 15, 2010
Andrea Muirragui Davis
Emmis Communications Corp. CEO Jeff Smulyan’s JS Acquisition LLC is suing its one-time financier for backing out of a deal to take the Indianapolis-based media company private.
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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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Dakich finds growing popularity as broadcasterRestricted Content

September 4, 2010
Anthony Schoettle
Former IU basketball player and coach Dan Dakich is one of the hottest sports broadcasters in the Midwest, and he’s about to take his act national.
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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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UPDATE: Emmis shares slide after firm says deal in peril

August 30, 2010
Scott Olson
A private-equity firm backing Emmis CEO Jeff Smulyan's buyout signed off on a compromise, but then changed its mind.
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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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WFYI seeks more money from public broadcasting audience

August 28, 2010
Kathleen McLaughlin
Public TV and radio broadcaster WFYI is counting on its listeners and viewers to open their wallets in a big way this fall, as it gears up for a campaign to grow its endowment well beyond its current $2.2 million.
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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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  1. Apologies for the wall of text. I promise I had this nicely formatted in paragraphs in Notepad before pasting here.

  2. I believe that is incorrect Sir, the people's tax-dollars are NOT paying for the companies investment. Without the tax-break the company would be paying an ADDITIONAL $11.1 million in taxes ON TOP of their $22.5 Million investment (Building + IT), for a total of $33.6M or a 50% tax rate. Also, the article does not specify what the total taxes were BEFORE the break. Usually such a corporate tax-break is a 'discount' not a 100% wavier of tax obligations. For sake of example lets say the original taxes added up to $30M over 10 years. $12.5M, New Building $10.0M, IT infrastructure $30.0M, Total Taxes (Example Number) == $52.5M ININ's Cost - $1.8M /10 years, Tax Break (Building) - $0.75M /10 years, Tax Break (IT Infrastructure) - $8.6M /2 years, Tax Breaks (against Hiring Commitment: 430 new jobs /2 years) == 11.5M Possible tax breaks. ININ TOTAL COST: $41M Even if you assume a 100% break, change the '30.0M' to '11.5M' and you can see the Company will be paying a minimum of $22.5, out-of-pocket for their capital-investment - NOT the tax-payers. Also note, much of this money is being spent locally in Indiana and it is creating 430 jobs in your city. I admit I'm a little unclear which tax-breaks are allocated to exactly which expenses. Clearly this is all oversimplified but I think we have both made our points! :) Sorry for the long post.

  3. Clearly, there is a lack of a basic understanding of economics. It is not up to the company to decide what to pay its workers. If companies were able to decide how much to pay their workers then why wouldn't they pay everyone minimum wage? Why choose to pay $10 or $14 when they could pay $7? The answer is that companies DO NOT decide how much to pay workers. It is the market that dictates what a worker is worth and how much they should get paid. If Lowe's chooses to pay a call center worker $7 an hour it will not be able to hire anyone for the job, because all those people will work for someone else paying the market rate of $10-$14 an hour. This forces Lowes to pay its workers that much. Not because it wants to pay them that much out of the goodness of their heart, but because it has to pay them that much in order to stay competitive and attract good workers.

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  5. It is sad to see these races not have a full attendance. The Indy Car races are so much more exciting than Nascar. It seems to me the commenters here are still a little upset with Tony George from a move he made 20 years ago. It was his decision to make, not yours. He lost his position over it. But I believe the problem in all pro sports is the escalating price of admission. In todays economy, people have to pay much more for food and gas. The average fan cannot attend many events anymore. It's gotten priced out of most peoples budgets.

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