August 23, 2005 |
Emmis Communications Corp., a broadcaster with radio stations in New York, Los Angeles and Chicago, said it would sell nine of its 16 television stations for $681 million to cut debt and focus on radio. Its shares rose 9.2%. LIN TV Corp. will buy five of the stations for $260 million, and Journal Communications Inc. will purchase three stations for $235 million. Gray Television Inc. will buy WSAZ in Huntington-Charleston, W.Va., for $186 million, Emmis said.
August 5, 2006 |
The chief executive of Emmis Communications Corp. said he had withdrawn a 3-month-old offer to take the Indianapolis-based radio and television broadcaster private because he could not reach an agreement with the board of directors. The company's shares, which soared after CEO Jeffrey Smulyan publicized his roughly $567-million offer in May, fell to $13 in extended trading, down 10% from their close of $14.52. Smulyan formed Emmis in 1980 and took it public 14 years later.
August 13, 2004 |
A Midwest communications company has agreed to pay $300,000 in indecency fines in a settlement with the Federal Communications Commission. As part of the settlement, Indianapolis-based Emmis Communications Corp. agreed that segments of a morning radio show, "Mancow Morning Madness," that described sex in crude and graphic terms were indecent and that it would clean up its programs.
June 20, 2006 |
Emmis Communications Corp., a radio and TV broadcaster, hired investment banks Morgan Stanley and Lazard Freres & Co. to advise the company on an offer by Emmis Chief Executive Jeffrey Smulyan to take it private. Smulyan on May 8 offered to pay $15.25 a share, or $567 million. Indianapolis-based Emmis owns radio stations in New York, Chicago and Los Angeles, plus Los Angeles magazine.
August 19, 2006 |
Talk about your quick career shifts. At 10 a.m. on Thursday, Peter Tilden and Ashley Paige were still morning-drive hosts at KZLA-FM (93.9), billed as "America's most listened to country station." At 10:15, they were notified that the station's format was changing immediately from country to pop and that they were out of work. "We're all fully aware of this possibility in radio, especially in such a volatile market the size of L.A.," Paige said later.