emmis building on circle 2016

Emmis makes deal to sell two New York stations, form new public company

Emmis Communications said it is selling two of its three New York City radio stations to investment firm Standard General. In return, Emmis will receive $91.5 million in cash plus a significant share of a new public company that will own the two stations. Emmis stock soared after the deal was announced.

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Emmis giving up on NextRadio after years of losses

Emmis Communications spent nearly a decade and tens of millions of dollars trying to put together an industry-wide effort to make cell phones act like smart portable radios. In the end, CEO Jeff Smulyan said he couldn’t continue to “fund R&D for the entire industry.”

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