Incorporated in 1979 and based in Indianapolis, Indiana, Emmis Communications Corporation (EMMS) is a radio broadcaster and magazine publisher. Until recently, the company operated television stations, the majority of which it has sold.
The Radio segment, which accounted for 76% of fiscal 2007 net revenue, has 21 FM and 2 AM radio stations serving large markets, such as New York, Los Angeles, and Chicago, as well as mid-sized markets, such as St. Louis, Missouri Austin, Texas and Indianapolis & Terra Haute, Indiana. The Publishing division, which represented 24% of fiscal 2007 revenue, publishes books, as well as various regional magazines, such as Indianapolis Monthly, Los Angeles Magazine, and Texas Monthly. The Television segment (which accounted for 42% of revenue in fiscal 2005, before the company began to divest its television operations) has one television station remaining after the recent sale. Emmis is reporting financials with the televison segment classified as discontinued operations