On Monday, June 10, Emmis Communications confirmed that it is saying goodbye to the capital of the Lone Star State. For $39.3 million, it is handing its 50.1% controlling interest in six Austin radio stations and two FM translators to its partner, Sinclair Telecable Inc.
Emmis and Sinclair have been partners since Emmis purchased its controlling interest in July 2003, but in order for the transaction to reach its completion, FCC approval of a waiver request was needed.
An affirmative nod has been given to the Indianapolis-based company headed by Jeff Smulyan.
