Emmis Communications Corp., 6.25% Series A Cumul Convertible Preferred Stock
EMMSP
NASDAQ1.52
USD
-0.16
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Emmis Communications Corp., 6.25% Series A Cumul Convertible Preferred Stock
EMMSP
(NASDAQ)
Recent
price
1.52
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Emmis Communications Corporation (NASDAQ: EMMS) operates as a diversified media company primarily focused on radio broadcasting, owning 11 FM and 3 AM radio stations in key markets including Austin, Texas (with a 50.1% controlling interest), Indianapolis, Indiana, and New York. The company also maintains a controlling interest in Digonex, a dynamic pricing software provider; publishes Indianapolis Monthly, a regional city magazine; and has developed technologies such as TagStation, a cloud-based platform for managing album art, metadata, and enhanced advertising on broadcasts, along with NextRadio, a smartphone app integrating over-the-air FM radio with visual and interactive features, and the Dial Report for radio advertising analytics derived from nationwide listening data, smartphone usage, location, and demographics. Founded in 1980 and headquartered in Indianapolis, Indiana, Emmis serves advertisers, listeners, and readers across the United States, with historical operations extending to television broadcasting (exited between 1998 and 2008), publishing, and mobile applications. In recent years, Emmis has pursued strategic divestitures and operational shifts, including agreements in 2018 to sell its St. Louis radio stations—KSHE (94.7 FM) and KPNT (105.7 FM) to Hubbard Radio for $45 million, and KFTK (97.1 FM) and KNOU (96.3 FM) to Entercom Communications Corp. for $15 million—while implementing local marketing agreements effective March 1 ahead of FCC approvals and closings in its first fiscal quarter. Further asset sales efforts encompassed its AM tower site in Whitestown, Indiana (with one completed sale, two under contract, and one under letter of intent as of April 2021), and ongoing attempts to divest WLIB-AM in New York City. The company issued 6.25% Series A Cumulative Convertible Preferred Stock (NASDAQ: EMMSP) with a conversion ratio of 0.64 and price of $78.13, alongside periodic dividend payments such as $0.78125 per share declared with a record date of October 12 in a prior update. Emmis continues to emphasize its entrepreneurial culture, technology investments, and media assets amid a dynamic industry landscape.