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New York radio stations help boost Emmis revenue

October 9, 2014

Emmis Communications Corp. saw a slight increase in profit on higher revenue in the fiscal second quarter, the Indianapolis-based company announced Thursday morning.

The media company said it brought in $61.8 million in the period ended Aug. 31, up from $54.9 million in the same period a year ago.

Profit ticked up to nearly $2.8 million, or 6 cents per share, compared to almost $2.6 million, or 6 cents per share, a year ago.

Radio revenue rose from $41.2 million in last year’s second quarter to $47.6 million in this year’s.

The $131 million acquisition of New York radio stations WBLS–FM 107.5 and WLIB-AM 1190 in March helped boost Emmis' revenue.

However, if the results for WBLS and WLIB from last year were taken into account, revenue for Emmis’ second quarter this year would have been down 1.7 percent, the company said.

Emmis owns 19 FM and four AM radio stations in New York, Los Angeles, St. Louis, Texas, Indianapolis and Terre Haute.

The company’s publishing operations, which publish Indianapolis Monthly and several other city magazines, had $14.1 million in revenue in the quarter, up from $13.7 million last year.

Emmis stock rose 9 cents Thursday morning, to $2.02 per share.


 

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