Revenue declines were expected because Emmis has sold off five radio stations and most of its publishing assets since the beginning of 2017.
While it might appear that Jeff Smulyan is preparing to either liquidate or parachute out of the company he founded in 1979, he says that couldn’t be further from the truth.
Indianapolis-based Emmis Communications Corp. said it will use proceeds from the sales to pay down debt.
Judge Jane Magnus-Stinson found that former employee Kristine Esser Slentz "failed to demonstrate that the alleged harassment was severe or pervasive enough to rise to the level of a hostile work environment.”
Indianapolis-based Emmis Communications Corp. on Tuesday announced it has deals to sell all of its radio stations in St. Louis to two different buyers, leaving it with stations in only three markets.
Broadcast executive Jeff Smulyan’s career-spanning commitment to Indianapolis earns him the distinction of being the 24th recipient of IBJ’s Michael A. Carroll Award.
Emmis said it used the $82.8 million sale of Los Angeles radio station KPWR-FM to drastically slash its debt obligations.
In the wake of devastating hurricanes, FCC Chaiman Ajit Pai is urging Apple to enable its iPhones as FM radio receivers. If Apple complies, that would give Emmis’ NextRadio operation a big boost.
Revenue declines were expected because Emmis sold off four radio stations and most of its publishing assets over the past year.
KPWR-FM, which Emmis has owned for 32 years, has long been one of the most popular stations in the massive Los Angeles media market. Emmis shares soared after the announcement.
“Chicks on the Right” and “Hammer & Nigel” are changing time slots. Abdul-Hakim Shabazz’s weeknight show is going off the air. And local listeners will get more Tony Katz.
Under the terms of a newly renegotiated credit agreement, Emmis has until next summer to sell off at least $80 million in assets.
Starting soon, many central Indiana sports-talk fans will no longer be able to hear programming from The Fan on 93.5 FM, where it’s been heard since November 2015.
Emmis Communications Corp. on Thursday announced quarterly results that “disappointed” CEO Jeff Smulyan.