Key Developments For Emmis Communications Corporation
Emmis Communications Corporation (EMMS.O) (Nasdaq)
Emmis Communications Corporation and Nobex Radio Companion Partner to Deliver Radio Stations to Your BlackBerry Smartphone
Emmis Communications Corporation and Nobex Technologies announced that they have entered into a co-branding and distribution agreement of Nobex Radio Companion. Nobex Radio Companion allows BlackBerry smartphone users to listen to Emmis Radio stations and more than 3,000 other stations from around the world. Starting immediately, customers can select a version of Nobex Radio Companion that comes pre-set with their favorite Emmis Radio station.
Gen2Media Corporation And Emmis Communications Corporation Announce Joint Venture Agreement To Develop Ad-Supported Online Television Channels
Gen2Media Corporation announced that it has signed Video Network License and Joint Venture Agreements with Emmis Communications Corporation to develop ad-supported online television channels for Chicago's Q101 and The Loop 97.9.
Grupo Radio Centro, S.A.B. de C.V. In Pact To Buy Los Angeles Station From Emmis Communications Corporation-DJ
Dow Jones reported that Grupo Radio Centro, S.A.B. de C.V. has signed an agreement with Emmis Communications Corporation to provide programming for and eventually buy the KMVN-FM station in Los Angeles. Grupo Radio Centro, S.A.B. de C.V. said it will provide programming and sell advertising time on the station under the local marketing agreement. It will pay Emmis Communications Corporation $7 million a year, including an upfront payment of $14 million to cover the first two years, which it is financing with a five-year, 200-million peso bank loan paying annual interest of 13%. Grupo Radio Centro, S.A.B. de C.V. also entered a seven-year option to buy KMVN-FM assets for $110 million. Radio Centro can exercise the option at any time in the next seven years, while Emmis can exercise its option to sell to Radio Centro in the seventh year. Grupo Radio Centro, S.A.B. de C.V. said it can assign the option to a qualified third party if, when the call or put option is exercised, Radio Centro isn't qualified under U.S. law to own a radio station.
Emmis Communications Corporation And Gen2Media Corporation Partner To Launch Internet TV Channels On Top New York And L.A. Radio Websites
Gen2Media Corporation announced that it has signed Video Network/Platform Agreements with Emmis Communications Corporation to develop online television channels for top rated Emmis radio stations serving the New York City and Los Angeles metropolitan markets.
Emmis Communications Corporation Suspends Dividend On Preferred Stock
Emmis Communications Corporation announced that it would not declare the January 15, 2009, quarterly dividend on its 6.25% Series A Cumulative Convertible Preferred Stock. Under the terms of the Preferred Stock, unpaid dividends accrue at the rate of 6.25% per annum, compounded quarterly. Payment of future dividends on the Preferred Stock will be determined by the Company's Board of Directors.
