Emmis 1Q Revs: Radio Down 1%, Publishing Up 2%

  • July 11, 2008
Emmis Communications reporters that for the first fiscal quarter, net revenue was $86.8 million, compared to $87.3 million for the same quarter in 2007. Radio net revenues decreased 1%, while publishing net revenues were up 2%. Emmis' station operating income also improved during the first quarter to $23.3 million, compared to $22.5 million last year. On May 2, 2008, Emmis entered into an agreement to sell its sole remaining television station, WVUE-TV in New Orleans. Gross proceeds from the sale of the company's 16 television stations were $1.24 billion. Subsequent to the quarter's end, Emmis Publishing suspended publication of Tu Ciudad Los Angeles.
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