Deal Snapshot
EMMIS TO SELL CONTROLLING STAKE IN AUSTIN RADIO CLUSTER
Tuesday 11 June 2019

US-based radio station operator Emmis Communications Corp. (NASDAQ: EMMS) has inked an agreement to sell its 50.1% controlling interest in a partnership that owns and operates six Austin radio stations and two FM translators to its partner, Sinclair Telecable, Inc., for USD 39.3m, subject to customary prorations and adjustments, the company said.
Emmis and Sinclair have been partners since Emmis purchased its controlling interest in July 2003. Sinclair Telecable is not in any way affiliated with Sinclair Broadcast Group, licensee of KEYE-TV in Austin.


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Details
Date Published: 11/06/2019
Target: Partnership that owns and operates six,  Austin radio stations and two FM translators/50.1% stake
Country: USA
Deal Size: 39.3m (USD)
Sector: Healthcare
Type: Divestment
Financing: Cash
Status: Agreed
Vendor: Emmis Communications
Buyer: Sinclair Telecable
Comment:


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