Patrick Walsh Named Emmis CFO

Indianapolis…Emmis Communications Corporation (NASDAQ: EMMS) today announced that Patrick Walsh has been named Chief Financial Officer of the company. Walsh, 39, comes to Emmis from iBiquity Digital Corporation, the developer and licenser of HD Radio technology, where he has served as CFO and Senior Vice President since 2002. Walsh begins his new position with Emmis on Sept. 5.

“Pat’s tremendous focus, energy and experience make him the perfect fit for Emmis,” Emmis Chairman and CEO Jeff Smulyan said. “He understands our business and has the financial background to support the company’s strategic growth.”

Prior to joining iBiquity, Walsh was a management consultant for McKinsey & Company, one of the world’s top management consulting firms. His previous management experience includes positions at General Motors Acceptance Corporation and Deloitte & Touche LLP. He earned a Bachelor of Business Administration degree in accounting and finance from the University of Michigan and an MBA from Harvard Business School.

“As I worked closely with the radio industry on its digital conversion plans over the past several years, I developed a deep respect for Emmis and its world-class portfolio of media properties,” said Walsh. “The team at Emmis has a great reputation throughout the industry, and I look forward to joining this outstanding group.”

Emmis also announced that David Newcomer has been promoted from Vice President of Finance and Assistant Secretary to Senior Vice President of Finance and Assistant Secretary.

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 21 FM and 2 AM domestic radio stations serving the nation’s largest markets of New York, Los Angeles and Chicago, as well as St. Louis, Austin, Indianapolis and Terre Haute, Ind. In May 2005, Emmis announced its intent to seek strategic alternatives for its 16 television stations, and the Company has sold or announced signed definitive agreements to sell 14 of them. Emmis owns a radio network, international radio stations, regional and specialty magazines and ancillary businesses in broadcast sales.