1.
NEWS: US MEDIA OWNER
EMMIS COMMUNICATIONS
SEEKS ENTRY TO UK LOCAL
COMMERCIAL RADIO SECTOR
by
GRANT GODDARD
www.grantgoddard.co.uk
August 2005

2.
News: US Media Owner Emmis Communications Seeks Entry To UK Local Commercial Radio Sector Page 2
©2005 Grant Goddard
Emmis Communications, the American media company with plans to move
into the UK radio market, has netted $680m from the sale of sixteen local
television stations in the US.
Earlier this year, Emmis signalled its intention to re-focus on the radio business
and has purchased further European operations. In January, it bought 'Radio
Expres' in Slovakia for $14m, adding to its existing portfolio of stations in
Belgium and Hungary. In the UK, Emmis has made applications for the
Manchester and Solent FM licences with partner Atlantic Radio, a UK company
run by Martin Farmer and backed by Rick Michaels, founder of equity firm
Communications Equity Associates, and Woody Johnson, billionaire heir to the
Johnson & Johnson fortune and owner of the New York Jets football team.
A spokesperson for Emmis said: "We are bullish on radio in Europe and the
UK in particular. This is an attractive opportunity for Emmis International."
Emmis had been a shareholder in 'Talk Radio’s 1994 winning bid for the
national AM licence but sold its holding a year later.
Emmis chairman and CEO Jeff Smulyan said the company would now be
selling seven remaining US television stations: “We announced in early May
that we were exploring strategic alternatives for our Television Group, so that
we could focus on lowering debt and positioning ourselves for growth. We
wanted to do what was right to get the best price for our shareholders, while
providing our employees with the best possible new owners. In making today's
announcement, we made substantial progress toward these goals.”
Explaining Emmis’ move into more radio markets, Smulyan said: "It's become
very popular to say 'radio's dead.' And yet it's a very vibrant media. The beauty
of what we do is: it's local and it's live all the time."
[First published in 'The Radio Magazine' as 'TV Sales Net Emmis $680m', #699, 31 August 2005]
Grant Goddard is a media analyst / radio specialist / radio consultant with thirty years of
experience in the broadcasting industry, having held senior management and consultancy
roles within the commercial media sector in the United Kingdom, Europe and Asia. Details at
http://www.grantgoddard.co.uk