Emmis Communications is calling a special meeting where investors will be asked to eliminate the right of preferred stockholders to receive millions of dollars in dividends. The firm also seeks approval for a reverse stock split that would prevent a 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.
WFYI is alerting local organizations and corporate partners about a Florida-based company asking for $20,000-plus to produce programs on not-for-profits that likely would not air on public television, as promised.
The sports network originally considered broadcasting from Monument Circle, but chose the plaza because the location has Lucas Oil Stadium as an ideal backdrop.
The company has made tremendous progress in recent weeks addressing problems that have scared off investors and pushed the price of its common stock below $1.
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.
Radio station WFNI-AM 1070 is challenging some FM music stations in the battle for male listeners.
The transaction with New York-based Alden Global Capital, the largest holder of Emmis preferred stock, is expected to end more than a year of legal wrangling involving the two companies.
Indianapolis-based Emmis Communications Corp. sued a former board member Friday, claiming he leaked information that caused a major holder of preferred stock to drop plans to resell those shares back to the company.
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.
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.
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.
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.
Rupert Boneham has created a casino table game and is searching for investors to help market it. A portion of the game’s revenue will benefit his Indianapolis charity, Rupert’s Kids.
Public radio station WFYI will be comfortably ahead of its fundraising goal when an on-air drive wraps up Friday evening.
