Indianapolis…Emmis Communications Corporation (Nasdaq: EMMS) today announced that the Company has been engaged in preliminary discussions with News Corporation relative to Emmis’ interest in acquiring certain of News Corp.’s television properties.
Emmis has in the past explored strategic transactions to grow its television division with a view toward separating its television and radio businesses. The Company contemplates that any transaction would be effected with the participation of private equity partners and with the intent to deleverage the Company’s balance sheet.
In an attempt to facilitate a transaction, Emmis has explored the possibility of combining its purchase of the television properties with the acquisition of the Los Angeles Dodgers team by an investor group in which Emmis would own a minority interest and therefore not consolidate the financial results.
Emmis emphasized that the aforementioned discussions with News Corp. have been preliminary in nature.