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Slide #31. Emmis Communications Corporation — WBLS-FM and WLIB-AM in New York
Emmis Communications Corporation (EMMS)
WBLS-FM and WLIB-AM in New York
Emmis Communications Corporation (Nasdaq: EMMS) has reached an agreement with YMF Media to purchase urban adult contemporary WBLS 107.5 FM, the No. 2 radio station in New York, and its sister station, WLIB 1190 AM, NY's first African-American targeted station offering an urban gospel format, for $131 million in cash.
Emmis Communications is a holding company. Through its subsidiaries, Co. is a media company, principally focused on radio broadcasting. Co. owns Frequency Modulation (FM) and Amplitude Modulation radio stations in New York, Indianapolis, and Austin. One of the FM radio stations that Co. owns in New York is operated pursuant to a Local Marketing Agreement whereby a third party provides the programming for the station and sells all advertising within that programming. In addition to its radio properties, Co. also publishes Indianapolis Monthly and operates Digonex Technologies, Inc., a pricing business.
Open the EMMS Page at The Online Investor »
Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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