Emmis Communications Corporation was incorporated in Indiana in 1979 when Founder and Chairman Jeff Smulyan purchased WSVL FM in Shelbyville.
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updated: 12/21/2009 5:43:30 PM
Smulyan to Remain Emmis CEO
The founder of Indianapolis-based Emmis Communications Corp. (Nasdaq: EMMS) will remain the company's chief executive officer after agreeing to a new three year contract. Jeff Smulyan's extension was announced by the media company in a filing with the U.S. Securities and Exchange Commission.
Source: Inside INdiana Business
Emmis announced in the same notice that Paul Fiddick has resigned as International Division President, but will remain a director of Emmis International.
Smulyan has been guiding the company through a tough year in the meida business.
It has been hit hard by the recession, causing a drop in revenues and emerging technologies such as mp3 players and the Internet.
At one point this year, the Nasdaq threatened to delist Emmis stock, which had been trading below $1 per share.
The price has since rebounded to above the $1 level.
Emmis owns several radio stations throughout the U.S., including WIBC-FM in Indianapolis, which is a news gathering partner of Inside INdiana Business.
Source: Emmis Communications Corp., Inside INdiana Business
