EMMIS COMMUNICATIONS CORPORATION (NASDAQ:EMMS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On November 27, 2019, the compensation committee of the board of directors of Emmis Communications Corporation (“Emmis” or the “Company”) awarded bonuses to the Company’s executive officers, including $2,625,000 for Jeffrey H. Smulyan, $1,275,000 for Patrick M. Walsh and $637,500 for Ryan A. Hornaday.  As a condition to receiving the bonus, the executive officers are required to agree to abide by the terms of the non-competition and non-solicitation provisions applicable to certain of the Company’s officers under that certain Management Agreement between Emmis Operating Company and MediaCo Holding Inc. dated as of November 25, 2019.  

About EMMIS COMMUNICATIONS CORPORATION (NASDAQ:EMMS)

Emmis Communications Corporation is a media company, which is focused on radio broadcasting. The Company operates through three business segments: Radio, Publishing, and Corporate & Emerging Technologies. The Company owns approximately 20 frequency modulation (FM) and over four amplitude modulation (AM) radio stations in New York, Los Angeles, St. Louis, Austin, Indianapolis and Terre Haute, Indiana. The Company publishes various city and regional magazines. The Company’s publishing operations consist of Texas Monthly, Los Angeles, Atlanta, Indianapolis Monthly, Cincinnati and Orange Coast. It also operates Digonex Technologies, Inc., a pricing business. It also develops and licenses TagStation, a cloud-based software platform that allows a broadcaster to manage album art, meta data and enhanced advertising on its various broadcasts, and developed NextRadio, a smartphone application that marries over-the-air FM radio broadcasts with visual and interactive features on smartphones.