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NEW RELEASES: LE RETOUR DE CELINE (UPDATE)
Best read while dramatically thumping one's breastbone. (11/18a)
ICYMI: HARRY ON SNL (UPDATE)
He's so dreamy. (11/18a)
ARIZONA GOES TO COLUMBIA
Bring on the remixes! (11/15a)
ROSAL√ćA WINS BIG AT LATIN GRAMMYS
A harbinger of things to come? (11/15a)
WILL REI AMI BE THE NEXT ACT TO POP?
Pass the popcorn. (11/18a)
THE GRAMMY NOMINATIONS
They'll soon be here, and then we can start obsessing about who'll win.
U.K. SPECIAL
Forget Brexit--it's our yearly survey of doings in Blighty. And if you still can't forget Brexit, try drinking.
WHAT'S GOING ON BENEATH OUR WINDOWS?
The latest in Hollyweird.
WEED!
That's what Hollywood smells like. Seriously. 24/7.
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."

 


 
 
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