The union representing about 200 employees at the Indianapolis Star voted overwhelmingly this weekend to accept a one-week furlough for each of its members in hopes of avoiding further layoffs. Officials at Star parent Gannett Co. Inc. announced last week that all of its employees would be required to take one week off without pay […]
Founded in 1983, Faerber’s Bee Window’s main product — windows — has changed dramatically, as has almost every aspect
of
its business, from manufacturing to marketing.
Emmis Communications Corp. struggles to contain expenses and minimize debts due to radio advertising shortfalls.
Small-town newspaper editors know that the more names of people they cram into each issue, the better the
chances someone will pick up the paper.
Now the principle has caught on in a big way with the largest publications â?? and…
For more than two years, Smulyan, 61, has been unflaggingly optimistic during quarterly conference calls. But since early 2007, Emmis’ stock has fallen 84 percent, shrinking the company’s stock market value from $307 million to $48 million. The troubles have cast uncertainty over one of Indianapolis’ highest-profile businesses.
ATLANTA – The streets of Atlanta’s Buckhead district were quiet late last night, but the atmosphere inside the Ritz-Carlton was like a New Year’s Eve party. The 32 NFL team owners met and mingled mostly behind closed doors, but the entourages spilled into the lobby and bar area as officials from Indianapolis, Houston and Phoenix […]
CBS Sports this morning is reporting that Indiana University men’s basketball players are threatening to boycott the remainder of the season if coach Kelvin Sampson is forced out. Quoting unidentified sources, CBS Sports reported that players and IU Athletic Director…
A local not-for-profit has received a $1 million grant to help keep college kids safe from fires, some of which are set as pranks. The People’s Burn Foundation will begin pilot testing a DVD video on fire prevention and mail a final version to nearly 5,000 colleges and 38,000 fire departments, starting in April. The video was funded largely by a $1 million grant from the U.S. Department of Homeland Security. It’s the latest in a string of grants received…
Neither side is talking, but one thing is certain: The removal of the 13-year WTHR veteran known for a sometimes-testy temperament
comes at a crucial time for the local television station.
Big Brothers of Indianapolis and Big Sisters of Central Indiana merged five years ago in hopes of mentoring more at-risk children, but turnover at the top of the organization has made it hard to get the ball rolling. The combined agency has had three leaders since the 2002 merger; revenue, which peaked at $2.3 million in 2003, has been up and down; and one-on-one mentor matches-its core activity-also declined. Despite the challenges, Big Brothers Big Sisters of Central Indiana finally…
Long-time WTHR-TV Channel 13 General Manager Rich Pegram has left the station. Yesterday was his last day, WTHR spokesman Jeff Dutton confirmed. Reasons for his departure were unclear. WTHR officials would not elaborate, and Pegram could not be reached for comment. “It was a mutual decision between Rich and the company,” Dutton said. Other sources […]
At a time when many print publishers are wringing their hands at the prospect of losing readers to the Internet, Emmis Communications Corp. is experiencing surprising growth in its magazine division. With the acquisition of Orange Coast last month, Emmis owns seven city-based magazines and one nationally distributed magazine. And the publishing division, with 406 of Emmis’ 1,300 employees, is the company’s fastest-growing. “City magazines like the ones Emmis has are doing quite well,” said Abe Peck, chairman of journalism…
As Indianapolis-based Emmis Communications Corp. announced dismal fourth-quarter results today, rumors heated up about Chairman Jeff Smulyan reviving a bid to take the company private. Smulyan said in a conference call this morning that he will reconsider taking the media company private “from time to time,” but will not comment on rumors or speculation. Meanwhile […]
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. […]
Last September, when tragic errors led to the deaths of three infants at Indianapolis’ Methodist Hospital, the hospital did something that, just a few years ago, might have seemed unthinkable: It acknowledged the tragedy and admitted that mistakes were made. “We are all saddened by this news and our hearts are with this family and all the families who have been affected,” a hospital spokesman told The Indianapolis Star. Added Methodist President and CEO Sam Odle, “Ultimately, the blame for…
IMS Productions, the Indianapolis Motor Speedway’s video production arm, has agreed to be one of the primary content providers
for The Venice Project, a collaboration of big-name Internet entrepreneurs intent on shaking up the television industry by
launching a 30-plus-channel, TV-like network online.
A big Emmis Communications Corp. investor has submitted a proposal to shareholders to do away with a special class of stock that gives shares held by CEO Jeff Smulyan extra voting power. The proposal—disclosed in the company’s proxy statement filed with the Securities and Exchange Commission this morning—was submitted by Frank Martin, whose Elkhart-based Martin […]
Happy holidays to you, and welcome to yet another yearly installment of, “Who’s Got the SNAFU?” the holiday game for those nervous about using technology for anything more complicated than opening cat food. We start comparatively close to home, in Valparaiso, where CNN reported that a modest little $122,000 home was erroneously valued in the county’s computer system at $400 million, which would have generated some $8 million in tax revenue. The $8 million figure was duly calculated into the…
In the last year, Emmis Communications Corp. Chairman Jeff Smulyan has led efforts to sell his company’s television stations, change radio formats, reduce debt and take the company private. He even proposed using company funds to buy a Major League Baseball franchise. Now, after his recently failed attempt to buy the Indianapolis company, many Wall Street analysts and investors are wondering what Smulyan might do next. Some industry experts believe the only way for Smulyan to do what’s best for…
One reason Jeff Smulyan’s bid to take Emmis Communications Corp. private is so fascinating is that the Indianapolis-based radio company remains in the dark ages as far as good corporate governance is concerned. Emmis’ governance practices are better than only 2 percent of the companies in the S&P 400 and 36 percent of media companies, according to an analysis released last fall by Institutional Shareholder Services, a Maryland firm that advises big investors. What’s not to like? Here’s a sampling:…
