While Emmis Communications is working internally to increase billing in its local radio markets, the company isn’t even guessing what is going to happen to national spot. The company said its forecast of flat radio revenues for the current quarter is based on its pacings and the revenue guarantees under its new national rep agreement with Katz, after switching from Interep in October. Thus far, Katz has not had to make any payments for falling short of its revenue guarantees, the terms of which are being kept secret for competitive reasons. “The Company is not able to reasonably estimate the exact amount, if any, of the national revenue guarantees at this time,” Emmis said of the current quarter in its quarterly financial release. That guarantee from Katz runs only through the next fiscal year, ending February 28, 2009, while the rep contract runs for nearly 10 years, through March 2018.
