Quantcast
Advertisement
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)

NEAR TRUTHS:
A WORSE MOUSETRAP
Feeling the burn of the Hot 100. (5/28a)
A SPECIAL AGENCY
HITS LIST
A list that's 10% inspired. (5/28a)
WMG LAUNCHES IPO
Damn the pandemic, full speed ahead. (5/27a)
AIRHEAD: HOW TO WIN THE HOT 100
You just need these six credit cards... (5/28a)
WELCOME TO THE
WORKING WEEK
President Glauber knows it don't thrill you but she hopes it won't kill you. (5/27a)
SHORT WEEK
Enjoy being even more confused by the calendar.
BLACK MUSIC MONTH
Celebrating the music that fuels the biz.
INSTACART
Dammit, we said DILL pickles!.
TRUMP SAID WHAT, NOW?
Just wondering if you still give a fuck.
POP MART
POP GO THE WEASELS
EMMIS TO SELL HOT 97 & WBLS-NY

Emmis Communications has announced today it plans to sell two of its properties, CHR "Hot 97" WQHT and Urban AC 107.5 WBLS New York. 

The buyer is Mediaco Holding, a new publicly traded company, with the deal being financed by investment firm Standard General for $91.5 million in cash, a $5 million note, and 23.72% of the new company, which will be distributed to Emmis shareholders.

Emmis CEO Jeff Smulyan will also serve as CEO of the new company, which segues into a shared services agreement with Emmis while the employees remain on the Emmis payroll.

Emmis will remain active in the management of WBLS and HOT 97, according to a statement from the company. 

“This is a landmark day in the forty-year history of Emmis,” said Smulyan. “We look forward to continuing to manage two of the world’s most iconic radio brands in HOT 97 and WBLS and employ our award-winning New York team as we partner with Soo Kim and Standard General to form a new public company to invest in media opportunities. The transaction provides Emmis significant capital to aggressively pursue new business opportunities that align with our entrepreneurial spirit and management skills."

 


 
 
Pop Mart Index
posted 5/26/20
posted 5/22/20
posted 5/22/20
posted 5/19/20
posted 5/15/20
posted 5/15/20
posted 5/12/20
posted 5/8/20