Emmis shifts focus from magazines to radio
March 5, 2017
CBS very recently sold off its radio business to concentrate on a medium it believed offered more promise (television).
Emmis Communications made a similar decision, though it apparently has different thoughts about the future of radio than CBS.
The company has sold four of its magazines, seeing little future in print, and will instead focus more on its radio business.
Emmis offloaded Los Angeles, Orange Coast, Cincinnati Magazine and Atlanta Magazine to Hour Media, which paid just $6.5 million for them, according to The New York Post’s Keith Kelly.
He notes that 17 years ago, when Emmis acquired Los Angeles, it paid $30 million for that alone.
Turnover at Los Angeles
Hour didn’t waste time in making changes. It laid off more than a half-dozen employees at Los Angeles, including the publisher and editor.
The company owns five other magazines, including Detroit Home and Metro Detroit Bride.
Looking to the future
As for Emmis, which still owns Indianapolis Magazine, the company can put renewed focus and perhaps invest some money into its radio properties. It owns nearly two-dozen stations, including three in top market New York City.
In announcing the move, Emmis CEO Jeff Smulyan called the current environment for print “difficult.”
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