Radio vets Cosby, Stuck among Clear Channel layoffs
Several local radio employees lost their jobs this week in a round of layoffs by San Antonio-based Clear Channel, the parent company of WRZX-FM 103.3, WFBQ-FM 94.7 and WNDE-AM 1260.
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Emmis finds silver lining despite deep losses in 2Q
Indianapolis-based Emmis Communications Corp. announced Thursday that second-quarter revenue slipped from last year and losses nearly quadrupled. However, the sale of three radio stations for $120 million, a reduction in debt and increases in advertising give executives hope.
Struggling Emmis faces NASDAQ delisting again
The day before closing on a $120 million sale of three radio stations, Emmis was warned about non-compliance with NASDAQ’s minimum-price rule for the third time in two years.
‘Abdul in the Morning’ show to end Friday
Abdul-Hakim Shabazz said his morning radio show on WXNT-AM 1430 will be replaced by the syndicated "Wall Street Journal Report" on Monday in a cost-cutting decision by Entercom Communications Corp.
Emmis’ local radio stations get big lift from new ratings system
During the quarter ended May 31, ratings at Emmis Communications’ four local stations greatly outpaced other stations in the market.
Emmis reports larger quarterly loss, higher revenue
For the quarter ended May 31, Emmis suffered a loss of $4.5 million, or 12 cents a share, compared with a loss of $3.9 million, or 10 cents a share, in the same period last year.
DJ says diverging from playlist cost him job
Former WFMS-FM 95.5 on-air personality J.D. Cannon said he was fired for insubordination after Jan Jeffries, Atlanta-based senior vice president of programming for Cumulus, heard WFMS play “Long Black Train” by Josh Turner and “Killin’ Time” by Clint Black.
Music stations doing just fine without on-air DJs
Many popular and well-paid disc jockeys in the local radio market have been let go over the last several years, and their station’s ratings generally didn’t suffer when they left.
Smulyan says Emmis ready ‘to go back on offensive’
Emmis' sale of two stations in Chicago and one in New York City will allow the company to chop more than $100 million off its $331 million in long-term debt—clearing the way for it to arrange a refinancing under favorable terms.
Emmis selling three major radio stations
Emmis Communications Corp. has reached an agreement to sell three big-market radio stations to a partnership involving a private equity firm and a prominent media executive, the company disclosed Tuesday morning.
Emmis reports smaller annual loss on higher revenue
The Indianapolis-based media company said an improving economy helped it cut its losses as revenue from radio operations grew 4.3 percent. Still, the company continues to struggle with a heavy debt load.
WFYI sets on-air fundraising record
Public radio station WFYI will be comfortably ahead of its fundraising goal when an on-air drive wraps up Friday evening.
Emmis gets additional year to repay debt
Lender Canyon Capital Advisors LLC agreed to extend the maturity date on $182.9 million in senior bank debt from November 2013 to November 2014, giving Emmis additional breathing room to operate.
WXLW beats odds to stay in sports-talk radio
Small Franklin station has survived loss of ESPN affiliation, emergence of better-funded competitors.
Cuts may spark mergers among public broadcasters
Indianapolis public broadcaster WFYI is bracing for an era of budget cuts that could prompt consolidation among Indiana stations.
Local firm making noise with app for radio stations
Boost Media & Entertainment’s MyStationApp targets independent radio stations such as WTTS-FM 92.3 in Bloomington, which is having success with the product.
Financier in botched deal sues Emmis over loan to Smulyan
In uncommonly sharp language, attorneys for New York-based Alden Global Capital accused Emmis' board of “a blatantly self-dealing transaction” that allows Smulyan to “pursue a personal litigation vendetta” against Alden.
Emmis likely escapes NASDAQ-delisting danger
Stock in the Indianapolis-based media company closed above the necessary threshold of $1 per share for 10 consecutive business days on Thursday, meaning it should be back in compliance with NASDAQ rules.
LEADING QUESTIONS: Abdul airs take on punditry, influence
How is talk-radio host Abdul-Hakim Shabazz like the Wizard of Oz? Were his barbs about an IPS official "over the top"? Does he really have the governor’s ear? He's taking your calls.
Emmis decision to pay CEO legal fees illegal, financier says
Alden Global Capital, a firm Emmis CEO Jeff Smulyan is suing for backing out of a deal to finance his efforts to take Emmis private, charges that a $200,000 loan Emmis made to pay his legal fees violates the Sarbanes-Oxley Act.