New York, Los Angeles markets toss Emmis a loss

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Emmis Communications Corp. today reported that revenue in its fiscal fourth quarter fell 4.6 percent, to $78.6 million.

The Indianapolis media company blamed weakness in its New York and Los Angeles radio operations for the problems and cautioned that the softness would continue into the near future.

For the quarter, the company lost $12.7 million. In the same quarter a year earlier, the company posted profit of $136.7 million, thanks primarily to gains from selling TV stations.

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