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Emmis profit plummets on weak radio sales

October 5, 2007
Continued weak sales in its radio segment caused profit from continuing operations in Emmis Communications Corp.'s second fiscal quarter to plunge to 3 cents per share from 6 cents per share a year earlier, the Indianapolis media company reported today.

Revenue in the quarter ended Aug. 31 also slumped, to $96.4 million from $99.9 million, mostly due to softness in its New York and Los Angeles radio properties.

Radio revenue across markets where Emmis operates fell 6 percent.

However, the company's publishing arm, which includes such magazines as Indianapolis Monthly, saw revenue rise 5.3 percent.
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