Emmis Could Be Faced with Selling Off N.Y. Station: SEC
Emmis Communications has been down this rocky road before. In the latest filing with the Securities and Exchange Commission released this week, Emmis points to the possibility of selling assets to stay above water fiscally.
“We have one station in New York City and two stations in Chicago where we believe the sale value could exceed the prospects for cash flow generation as part of our portfolio,” the filing with the SEC says.
It goes on to say that Emmis is “optimistic about the growth potential for these stations.”
However, “as the market for buying and selling radio stations improves, we may from time to time explore sales of one or more of these stations as a means of maintaining compliance with certain covenants in our senior credit facility.”
It’s
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in