Emmis Corporation
| Company type | Public company |
|---|---|
| Industry | Media conglomerate |
| Founded | 1980 |
| Founder | Jeff Smulyan |
| Headquarters | Indianapolis , United States |
Area served | United States, Hungary (former) |
Key people | Jeff Smulyan (founder and CEO) |
| Products | Radio stations, magazines, mobile media, sound masking technology |
Emmis Corporation is a U.S.-based media conglomerate located in Indianapolis, Indiana. Established in 1980 by entrepreneur and executive Jeff Smulyan, Emmis has developed a varied collection of radio properties, including prominent stations such as KPWR and WQHT, which lead in the Hip Hop Rhythmic genre, along with WFAN (AM), recognized as the world’s first 24-hour sports talk radio outlet. Beyond its radio ventures, Emmis broadened its reach into television, publishing, and mobile media sectors across the United States, demonstrating its expansive business approach and strategic media leadership.
1980s
The origins of Emmis trace back to 1980 when founder and CEO Jeff Smulyan acquired his initial station, WSVL-FM in Shelbyville, Indiana. He rebranded it as WLHK, adopting an adult contemporary format. By 1982, Emmis had entered the Minneapolis market by purchasing WLOL, quickly establishing a strong market presence.
Around 1984, the company expanded into Los Angeles by acquiring Magic 106, which was later renamed Power 106 KPWR in 1986 to appeal to dance, top 40, and shock-jock listeners—highlighting its forward-thinking business tactics. That same year, Emmis also took ownership of St. Louis’s KSHE.
In 1987, Emmis significantly increased its portfolio by acquiring New York stations WQHT, WYNY, and WNBC, Chicago’s WKQX, Boston’s WJIB, San Francisco’s WKUU and KXXX, Houston’s KKHT, and Washington D.C.’s WAVA. These acquisitions enhanced Emmis’s industry standing and market reach. Notably, KPWR and WQHT were pioneers in the urban contemporary rhythmic format. Additionally, Emmis converted WHN into WFAN, the world’s inaugural all-sports radio station.
In 1988, Emmis diversified into publishing by acquiring Indianapolis Monthly and further expanded its radio assets through the purchase of five NBC radio stations. This year marked a strategic expansion of its offerings.
In a notable diversification beyond media, CEO Smulyan acquired the Major League Baseball team Seattle Mariners in 1989, showcasing his broad investment strategy and leadership focused on growth and influence.
1990s
At the start of the 1990s, Emmis divested several radio properties including Houston’s KKHT-FM (1990), WLOL to Minnesota Public Radio, and San Francisco’s KXXX (1991). That same year, KMGG was rebranded as KPWR "Power 106," spearheading the rhythmic contemporary top 40 format.
In 1992, Emmis sold WFAN New York to Infinity for $70 million—one of the highest prices ever paid for an AM station—and also sold WAVA-FM Washington D.C. and WJIB Boston. Founder Jeff Smulyan additionally sold the Seattle Mariners to Nintendo during this period.
The company expanded its publishing assets by acquiring Atlanta Magazine in 1993 and launched its second hip hop outlet, Hot 97. Chicago's Q101 transitioned to an Alternative Rock format. In 1994, Emmis purchased WIBC and WKLR in Indianapolis along with WRKS in New York City; WKLR was reformatted as WNAP-FM. The firm went public on NASDAQ under the symbol EMMS on March 4, 1994.
By 1995, Emmis owned leading stations WQHT and KPWR within their respective markets—making it the first company to control top-rated stations in the two largest U.S. cities. In 1996, WHHH emerged as the leading Urban Adult Contemporary station.
Emmis ventured into international markets in 1997 by acquiring Hungary's Sláger Radio, which dominated national ratings until losing its license in 2009. The company also added Cincinnati Magazine to its portfolio and grew its rock station lineup with KIHT-FM and KPNT-FM in St. Louis.
In 1998, Emmis Broadcasting rebranded as Emmis Communications and moved its headquarters to Monument Circle in Indianapolis. That year also saw acquisitions such as Texas Monthly magazine; radio stations WRXP New York, WTHI and WWVR Terre Haute; plus six television stations spanning Honolulu, New Orleans, Green Bay, Mobile, Terre Haute, and Ft. Myers from SF Broadcasting and Wabash Valley Broadcasting. Additionally, Emmis launched RadioNow Indianapolis featuring a Top 40 format.
In 1999, Emmis acquired Country Sampler Magazine. Liberty Media made a significant investment by purchasing approximately $150 million worth of shares—2.7 million—in Emmis Communications.
2000s
In 2005, Emmis transitioned its flagship radio station’s format from adult contemporary to country music, updating the call sign from WENS to WLHK'. That same year, Emmis earned a place among Fortunes 100 Best Companies to Work For. Additionally, Emmis collaborated with New York's 98.7 KISS-FM to introduce the annual Phenomenal Woman Awards in honor of Women's History Month.
From 2005 through 2013, Emmis managed three Bulgarian radio networks: Radio FM+, Radio Fresh!, and Star FM.
In 2006, the company revamped Los Angeles’ KZLA into "KMVN, Movin' 93.9," aiming at the adult rhythmic contemporary audience alongside KPWR. By 2009, KMVN shifted to Spanish-language content under a Local Marketing Agreement with Grupo Radio Centro.
On June 9, 2009, Emmis entered a strategic partnership with StreamTheWorld to stream its entire radio station lineup via a new digital platform.
2010s
On January 12, 2011, shares of Emmis experienced a 42% increase amid rumors regarding potential sales of radio assets. The company revealed it needed to divest certain holdings to comply with financial covenants beyond September 2011.
In August 2013, Emmis introduced the NextRadio app enabled by FM technology on Sprint’s HTC One smartphones, broadening FM radio accessibility across Sprint’s Android devices through industry collaboration.
On October 12, 2016, Emmis announced the sale of its Terre Haute radio group: Midwest Communications acquired intellectual property rights for WTHI-FM and WWVR, while DLC Media purchased broadcast licenses for WFNB and WWVR. The deal was finalized on January 27, 2017.
March 1, 2017 marked Emmis’ sale of four city magazines—Atlanta, Cincinnati, Los Angeles, and Orange Coast—to Hour Media Group for $6.5 million; concurrently, Texas Monthly was sold to Genesis Park for $25 million.
On May 9, 2017, Emmis agreed to divest KPWR Los Angeles to The Meruelo Group for $82.75 million as part of an $80 million asset sale plan aimed at amending its credit facility. Meruelo commenced operations under an LMA in July before completing the acquisition in August.
In January 2018, Emmis exited the St. Louis market by selling KSHE and KPNT stations to Hubbard Broadcasting and transferring KFTK and KNOU to Entercom.
By June 2019, Emmis relinquished controlling interest in Austin market stations to minority partner Sinclair Telecable Inc., effectively withdrawing from that region.
On July 1, 2019, Emmis announced the sale of New York City stations WQHT and WBLS to Mediaco Holding (associated with Standard General) for $91.5 million plus a $5 million promissory note and a 23.72% equity stake in the new public entity. Emmis retained management responsibilities. The transaction closed on November 25, 2019.
2020s
On March 11, 2020, Emmis expanded its holdings by acquiring Lencore Acoustics, a leader in sound masking technology. On April 24, 2020, the company voluntarily withdrew from the Nasdaq stock exchange to reduce expenses. In June 2022, Emmis sold its Indianapolis radio assets to Urban One for an undisclosed sum.
Company portfolio
Lencore Acoustics
Acquired in 2020, Lencore specializes in Sound Masking, Paging, and Audio solutions serving prominent clients including Amazon, AT&T, CVS Health, Coca-Cola, Ford Motor Company, Ernst & Young, and Michelin.
Digonex
Emmis enhanced its technological capabilities by acquiring Digonex in 2014.
Former magazines
NextRadio app
Developed by Emmis with backing from the National Association of Broadcasters, the NextRadio app enables smartphones equipped with internal FM receivers to access FM radio without using mobile data. Launched in August 2013 through a partnership with Sprint Corporation, it was pre-installed on select devices and available via Google Play Store.
NextRadio operates on TagStation—a cloud-based platform created by Emmis that manages supplementary content for broadcasters across apps, HD Radio receivers, and connected car dashboards. However, in late 2018 Emmis reduced investment in TagStation and NextRadio operations after incurring $1.2 million in severance costs following layoffs of 35 employees. CEO Jeff Smulyan attributed this decision to financial limitations.
Industry assessments in early 2019 noted that NextRadio struggled to generate revenue despite ambitions to offer advertisers valuable insights into radio return on investment. By late 2021 the app remained downloadable on Google Play but exhibited limited functionality due to discontinued server support.
WorldBand Media HD Radio deal
In September 2008, Emmis partnered with digital radio provider WorldBand Media to utilize HD-3 subchannels for programming aimed at South Asian audiences in Chicago (WLUP), Los Angeles (KPWR), and New York (WQHT). This programming combined local and international content and launched by mid-October that year.
Current radio stations
| City of license / Market | Station | Owned since | Current format |
|---|---|---|---|
| Indianapolis, IN | WFNI 1070 | 1994 | Sports radio (simulcast of WIBC-HD2) |
| New York, NY | WEPN-FM 98.7 | 1994 | Latin pop–adult contemporary |
| WLIB 1190 | 2014 | Simulcast of WEPN-FM |
Former television stations
Between 2005 and 2008, Emmis divested all sixteen of its television stations through various transactions, thereby exiting the TV broadcasting sector entirely. These stations operated across multiple U.S. markets and were sold to major media companies such as Gray Television, Nexstar Media Group, E. W. Scripps Company, Hearst Television, and Sinclair Broadcast Group.
| City of license / Market | Station | Channel | Years owned | Current status |
|---|---|---|---|---|
| Mobile–Gulf Shores, AL | WALA-TV | 10 | 1998–2005 | Fox affiliate under Gray Television ownership |
| Mobile–Gulf Shores, AL | WBPG | 55 | 2003–2006 | CW affiliate WFNA owned by Nexstar Media Group |
| Tucson, AZ | KGUN-TV | 9 | 2000–2005 | ABC affiliate owned by E. W. Scripps Company |
| Cape Coral–Fort Myers–Naples, FL | WFTX-TV | 36 | 1998–2005 | Fox affiliate operated by E. W. Scripps Company |
| Clermont–Orlando–Daytona Beach, FL | WKCF | 18 | 1998–2006 | CW affiliate owned by Hearst Television |
| Honolulu, HI | KHON-TV | 2 | 1998–2006 | Fox affiliate under Nexstar Media Group ownership |
| Honolulu, HI | KGMB | 9 | 2000–2007 | MyNetworkTV affiliate KHII-TV owned by Nexstar Media Group |
| Terre Haute, IN | WTHI-TV | 10 | 1998–2005 | CBS affiliate now owned by Allen Media Broadcasting |
| Topeka, KS | KSNT | 27 | 2000–2006 | NBC affiliate owned by Nexstar Media Group |
| Wichita–Hutchinson, KS | KSNW (including KSNC, KSNG, KSNK) | Various channels | 2000–2006 | NBC affiliates under Nexstar Media Group ownership |
| New Orleans, LA | WVUE-DT | 8 | 1998–2008 | Fox affiliate owned by Gray Television |
| Grand Rapids–Battle Creek–Kalamazoo MI | WXMI | 17 | 1998 | Fox affiliate operated by E. W. Scripps Company |
| Omaha–Council Bluffs NE-IA | KMTV-TV | 3 | 2000–2007 | CBS affiliate owned by E.W. Scripps Company |
| Manchester NH | WMUR-TV | 9 | 2000–2001 | ABC affiliate owned by Hearst Television |
| Albuquerque–Santa Fe NM | KRQE | 13 | 2000–2005 | CBS affiliate owned by Nexstar Media Group |
| Portland OR | KOIN | 6 | 2000–2006 | CBS affiliate owned by Nexstar Media Group |
| Tacoma–Seattle WA | KTZZ |
Former radio stations
Note: Numerous former stations were divested as part of strategic repositioning aimed at optimizing market presence and revenue streams.| City / Market | Station | Ownership period | Current status |
|---|---|---|---|
| Phoenix, AZ | |||
| Los Angeles CA | |||
| San Francisco CA | |||
| Chicago IL | |||
| Indianapolis IN | |||
| Terre Haute IN | |||
| Boston MA |
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