Emmis Babies “Share” in Success

Indianapolis…Babies born to full and part-time employees of Emmis Communications Corporation (Nasdaq: EMMS) will be awarded one share of stock under a program announced today by the company.

Each quarter, the “Emmis Baby Share Program” will award one share of Emmis Communications stock to any full- or part-time Emmis employee for any child born or adopted during that quarter. The program takes effect immediately.

“For years, Emmis has awarded a share of stock to every new employee,” Emmis Chairman and CEO Jeff Smulyan said. “While that one share is unlikely to change anyone’s financial standing, we think it symbolizes our commitment to the idea that each employee should take ownership in the company and benefit from its success. With the new Baby Share program, we want to demonstrate to our employees that this commitment extends to their families as well.”

Emmis employs 2,500 full-time and 550 part-time employees in its 22 markets, from Hungary to Honolulu, and Buenos Aires to Green Bay.