- Emmis Communications (OTCPK:EMMS) has fallen off 7% after posting another disappointment in Q3 earnings that saw revenues drop more than 5%.
- Publishing revenues fell 18%; pro forma for the company's sale of Texas Monthly, publishing net revenues still declined 6%, and radio revenue fell fractionally overall.
- "Emmis Radio is not accustomed to underperforming its markets," says Chairman/CEO Jeff Smulyan. "I was disappointed in our performance, but remain hopeful that recent ratings gains in Los Angeles and Austin, coupled with continued stellar performance in St. Louis, will lead to better performance in fiscal 2018."
- Press Release