Indianapolis…Emmis Communications Corporation (NASDAQ: EMMS) today announced the sale of Mira Mobile Television for $4 million to an ownership group led by Dale Johannesen, President of Shooters Production Services, Frank Taylor and Robb Kirk. Mira Mobile, based in Portland, Oregon, provides remote production facilities to sports, corporate, and entertainment clients throughout the western United States. Emmis acquired Mira Mobile in October 2000 in connection with the purchase of certain television assets from Lee Enterprises, Inc.
“Since Mira Mobile is a non-core asset for us, it makes sense to put the business in the hands of people who specialize in remote production. In turn, this will allow us to focus our resources in the Portland market on KOIN-TV,” Emmis Television President Randall Bongarten said.
Emmis does not expect to record a material gain or loss in connection with the sale.
Frank Taylor, MIRA Mobile General Manager, will assume similar responsibilities with the new company.
Approximately 8 employees are involved. No FCC approvals are needed for the transaction, and the deal closed on June 5, 2003.