Emmis Communications (EMMS) Reports Q1 Loss of $0.62

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Go back to Emmis Communications (EMMS) Reports Q1 Loss of $0.62

Emmis Announces Fourth Quarter and Full-Year Earnings

May 11, 2017 6:05 AM EDT

INDIANAPOLIS, May 11, 2017 /PRNewswire/ -- Emmis Communications Corporation (NASDAQ: EMMS) today announced results for its fourth fiscal quarter and full-year ending February 28, 2017.  After the end of the quarter, on May 8, 2017, Emmis entered into an agreement to sell KPWR-FM in Los Angeles to an affiliate of the Mereulo Group for $82.75 million.  This transaction is expected to close later this year and proceeds will be used to repay more than 50% of the Company's credit facility debt outstanding.

Emmis' radio net revenues for the fourth fiscal quarter were $34.0 million, down from $36.4 million from... More