After years of ‘pushing water uphill,’ Emmis now nimble
The Indianapolis media company is on track to have less than $75 million in debt by this summer—down from $1.6 billion before it launched the divestiture of its TV stations seven years ago.
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Wheat out as local Cumulus market manager
Atlanta-based Cumulus has eliminated its local market manager position. Locally, Cumulus operates top-10 radio stations WJJK-FM 104.5 and WFMS-FM 95.5.
Emmis gains extension on NASDAQ listing
Emmis Communications Corp. shares will remain listed on the NASDAQ exchange at least until Aug. 27 under an extension granted by the well-known stock index.
Emmis inks two deals for $92.5 million infusion
The news sent Emmis stock soaring 21.5 percent Thursday morning, to $1.05 cents per share. It's the first time Emmis shares have traded above $1 since July.
Preferred-shareholder group sues Emmis over restructuring
A group of Emmis Communications Corp. preferred shareholders, unhappy with a company proposal that would strip them of their right to collect millions of dollars in dividends, filed a lawsuit against the Indianapolis media firm Monday to try to prevent the move.
Emmis sues Hungary for political interference in radio bids
Hungary is being sued for political interference in awarding radio licenses, renewing doubts over press freedoms in the nation as the government tries to convince the European Union that it respects media independence.
Wall Street observers blast Emmis plan to ax preferred shares
Emmis Communications Corp.'s effort to strip its preferred shareholders of their rights and avoid forking over about $10 million in unpaid dividends is drawing sharp criticism from top market observers, including a columnist for The New York Times.
Emmis asks judge to rule on legality of stock plan
The Indianapolis media company has filed a lawsuit that could prevent preferred shareholders from mounting a court challenge of the plan that would strip them of their right to collect millions of dollars in dividends.
Emmis plans to appeal looming NASDAQ delisting
Emmis Communications Corp. has failed to comply with requirements to remain on the NASDAQ exchange, but the Indianapolis-based media firm said it plans another attempt to avoid being delisted from the well-known stock index.
Emmis posts big profit, but revenue shrinks
The media company’s $110.9 million quarterly profit was largely due to the sale of three radio stations and the repurchase of preferred stock. Revenue fell 11 percent.
The Fan winning sports-talk radio war by wide margin
Radio station WFNI-AM 1070 is challenging some FM music stations in the battle for male listeners.
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.
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.
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.
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.
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.
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.
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.