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Emmis Selling LA’s Power 106

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Emmis Announces Agreement to Sell LA’s Power 106 to

Indianapolis…Emmis Communications (Nasdaq: EMMS) has announced an agreement to sell KPWR-FM Power 106 in Los Angeles to an affiliate of the Meruelo Group for $82.75 million, subject to closing adjustments and prorations, pending FCC and other regulatory approvals.

Power 106 has been part of the Emmis family for more than 32 years, so this day is bittersweet, but I am confident that the station and our team are in good hands,” said Jeff Smulyan, Chairman and CEO of Emmis Communications. “The Meruelo Group will be great owners of this historic brand, and take it to even greater heights.”

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