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Emmis Announces Acquisition of WBLS-FM and WLIB-AM in New York – $131 million accretive transaction will nearly double company’s station operating income

Indianapolis…Emmis Communications Corporation (Nasdaq: EMMS) has reached an agreement with YMF Media to purchase urban adult contemporary WBLS 107.5 FM, the No. 2 radio station in New York, and its sister station, WLIB 1190 AM, NY’s first African-American targeted station offering an urban gospel format, for $131 million in cash.      Emmis, which already owns WQHT,

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