The crusade in the radio industry led by Indy-based Emmis Communications Corp. to give smartphones the ability to work like FM radios has hit a major milestone with a deal through wireless carrier AT&T.
Emmis Communications Corp. saw profit rise almost 60 percent in its latest fiscal quarter despite falling revenue from its radio stations, the Indianapolis-based media company announced Thursday morning.
Emmis Communications Corp. reported an big increase in fourth-quarter and full-year radio station revenue, but took a sizable loss due to a one-time, non-cash charge to reflect reductions in the value of station licenses it owns.
Dropping one of the most popular radio shows in this market over the last two decades is part of a plan to remain a dominant force, WIBC officials said. The show's syndicator already is talking with other local stations.
After 15 years on the air, "Sound Medicine" will broadcast its last new episode on April 26. The Indiana University School of Medicine, the show's primary funder, wants to change the direction of its marketing.