Quantcast
Advertisement
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)

SPIRIT OF SYLVIA (UPDATE)
Saluting a legend (10/14a)
STREAMING SONGS CHART: CLIMBERS
Shock of the new (10/11a)
SONG REVENUE CHART: CAPTAIN KIRK
Da teen vs. DaBaby (10/11a)
SUPERM WINS THE CHART BATTLE
Unexpected drama (10/14a)
GRAMMY CHEW:
BEST NEW ARTIST
An uber-competitive category (10/14a)
RIHANNA PREPARES TO RULE THE ROOST
What shoes go with dancehall?
WHAT'S NEXT FOR R&B?
How certain projects connect at streaming.
THE K-POP LANDSCAPE
농담은 한국어에서 더 잘 작동합니다.
THE NEW GRAMMY POWER
Change is nigh.
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 10/8/19
posted 10/2/19
posted 10/1/19
posted 9/24/19
posted 9/20/19
posted 9/17/19