As RBR + TVBR reported on Oct. 13, Emmis Communications made good on its August announcement that it was divesting its Terre Haute, Ind. radio stations and planned to shed all of its magazines except Indianapolis Monthly.
In two concurrent deals, Emmis dealt the assets of WTHI-FM and the intellectual property of WWVR-FM to Duke Wright’s Midwest Communications for $4.3 million, while agreeing to sell WFNF-AM, WFNB-FM, the facilities associated with WWVR-FM and an FM translator to DLC Media Inc. for $865,000.
It is now known that while net revenue for the stations was in decline, although all-important net income was realized in the six-month period of fiscal 2017 ending August 31.
At the same time, venerable glossy Texas Monthly is bleeding badly, with a significant year-over-year dip in operating income seen in the first half of fiscal 2017.