Indianapolis….Emmis Communications Corporation (NASDAQ: EMMS) today announced it has agreed to settle its lawsuit against Spanish Broadcasting System. As part of the settlement agreement, SBS’s KXOL-FM has vacated Emmis’ broadcast tower at Flint Peak (Glendale, California). Emmis will dismiss its lawsuit against SBS filed in California’s U.S. District Court, and SBS will withdraw its letter of complaint to the Federal Communications Commission.
No further details were released by the company.
Emmis Communications – Great Media, Great People, Great Service ®
Emmis is an Indianapolis-based diversified media firm with radio broadcasting, television broadcasting and magazine publishing operations. Emmis owns 23 FM and 2 AM domestic radio stations serving the nation’s largest markets of New York, Los Angeles and Chicago as well as Phoenix, St. Louis, Austin, Indianapolis and Terre Haute, IN. Emmis has recently announced its intent to seek strategic alternatives for its 16 television stations, which could result in the sale of all or a portion of its television assets. In addition, Emmis owns a radio network, international radio stations, regional and specialty magazines and ancillary businesses in broadcast sales and book publishing.