Emmis expands holdings to another ex-iron curtain country
PRESS RELEASE
Emmis Acquires Bulgarian Radio Company
Addition Grows International Holdings in One of the World's Hottest
Economies
INDIANAPOLIS, Dec. 17 /PRNewswire-FirstCall/ -- Emmis Communications
Corporation (NASDAQ:EMMS) today announced it has acquired Inforadio, a
national radio chain broadcasting in 13 Bulgarian cities.
Balkan Broadcasting EAD, an Emmis subsidiary, purchased 100 percent of
the stations' parent company, Infopress & Company OOD, a Bulgarian
limited liability company, from shareholders Folex EOOD and Consult Lege
Artis EOOD. The transaction is complete, and regulatory approval has been
granted. No purchase price was disclosed.
Inforadio is Emmis' third national radio brand in Bulgaria; the company
also operates Radio FM+ and Radio Fresh there. "This acquisition
demonstrates our belief in the growth of the Bulgarian economy, especially
since its accession to the European Union this year," said Paul Fiddick,
president of Emmis International. "We are pleased to enlarge our
footprint there with three national radio brands, and we welcome Inforadio's
employees, clients, and listeners to the Emmis family."
Emmis International also owns and operates national stations or
networks in Belgium (Be One), Hungary (Slager Radio) and Slovakia (Radio
Expres).
Emmis Communications - Great Media, Great People, Great Service(R)
Emmis is an Indianapolis-based diversified media firm with radio
broadcasting and magazine publishing operations. Emmis owns 21 FM and two AM
domestic radio stations serving the nation's largest markets of New
York, Los Angeles and Chicago, as well as St. Louis, Austin, Indianapolis
and Terre Haute, Ind. Emmis also owns a radio network, international
radio stations, an interactive business and ancillary businesses in
broadcast sales.
First Call Analyst:
FCMN Contact:
Source: Emmis Communications Corporation
PRESS RELEASE
Emmis Acquires Bulgarian Radio Company
Addition Grows International Holdings in One of the World's Hottest
Economies
INDIANAPOLIS, Dec. 17 /PRNewswire-FirstCall/ -- Emmis Communications
Corporation (NASDAQ:EMMS) today announced it has acquired Inforadio, a
national radio chain broadcasting in 13 Bulgarian cities.
Balkan Broadcasting EAD, an Emmis subsidiary, purchased 100 percent of
the stations' parent company, Infopress & Company OOD, a Bulgarian
limited liability company, from shareholders Folex EOOD and Consult Lege
Artis EOOD. The transaction is complete, and regulatory approval has been
granted. No purchase price was disclosed.
Inforadio is Emmis' third national radio brand in Bulgaria; the company
also operates Radio FM+ and Radio Fresh there. "This acquisition
demonstrates our belief in the growth of the Bulgarian economy, especially
since its accession to the European Union this year," said Paul Fiddick,
president of Emmis International. "We are pleased to enlarge our
footprint there with three national radio brands, and we welcome Inforadio's
employees, clients, and listeners to the Emmis family."
Emmis International also owns and operates national stations or
networks in Belgium (Be One), Hungary (Slager Radio) and Slovakia (Radio
Expres).
Emmis Communications - Great Media, Great People, Great Service(R)
Emmis is an Indianapolis-based diversified media firm with radio
broadcasting and magazine publishing operations. Emmis owns 21 FM and two AM
domestic radio stations serving the nation's largest markets of New
York, Los Angeles and Chicago, as well as St. Louis, Austin, Indianapolis
and Terre Haute, Ind. Emmis also owns a radio network, international
radio stations, an interactive business and ancillary businesses in
broadcast sales.
First Call Analyst:
FCMN Contact:
Source: Emmis Communications Corporation