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.
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-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.
During the quarter ended May 31, ratings at Emmis Communications’ four local stations greatly outpaced other stations in the market.
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.
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.
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.
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 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.
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.
Public radio station WFYI will be comfortably ahead of its fundraising goal when an on-air drive wraps up Friday evening.
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.
Small Franklin station has survived loss of ESPN affiliation, emergence of better-funded competitors.
Indianapolis public broadcaster WFYI is bracing for an era of budget cuts that could prompt consolidation among Indiana 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.
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.
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.
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.
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.
Atlanta-based Cumulus Media Inc. said late Monday it has agreed to acquire its partners’ interest in a venture that owns 32 radio stations in nine cities, including three in Indianapolis. No local changes are expected.
Emmis Communications’ share price soared 42 percent on Wednesday, a day after the company reiterated that it is “actively pursuing” the sale of some assets. CEO Jeff Smulyan says it's impossible to call a station sale imminent, but shares gained another 13 percent on Thursday.