When it comes to honesty, there may be no radio industry leader as revealing as Emmis Communications Chairman/CEO Jeff Smulyan. In just 15 minutes, Smulyan touched on a variety of highs and lows impacting his media company in its fiscal Q3 2018, which ended Nov. 30, 2017. “There’s certainly nothing great about the performance of our markets,” he admitted.
At the same time, he gave a positive “shout-out” to dynamic pricing business Digonex.
What wasn’t shared verbally was the company’s pro forma revenue and income. We reviewed the company’s 10Q filing, and a supplemental pro forma one-sheeter posted to Emmis’ website, to get a true picture of how the company is performing with less radio stations and magazines than it had in its fiscal Q3 2017.