Emmis Radio Revenue Is Up

Emmis Communications Corp. said net revenue in its fiscal third quarter was up 3% over the same period last year to $160 million, although pro forma net revenue fell 1%.
In the radio portion of its business, the media company reported net revenues up 15% and pro forma net revenues up 5%. In television, net revenues fell 10% and 9%, respectively; the company blamed the loss of political revenues it had enjoyed a year earlier. Publishing net revenues were up 7%.
The company also noted that, effective Jan. 1, it changed its stock compensation program by eliminating mandatory participation for employees making less than $52,000. That program dates to a wage cut the company instituted in late 2001.
Emmis has 23 FM and four AM stations in the United States plus three abroad, 16 TV stations, a radio network, magazines and ancillary businesses in broadcast sales and book publishing.