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Emmis, Standard General Close WBLS-WQHT/N.Y. Transfer

Y2kTheNewOldies

Y2kTheNewOldies

https://news.****************/articles/b16079/Emmis-Standard-General-Close-WBLS-WQHT-NY-Transfer

Emmis Communications and Standard General have closed on the transfer of the licenses of Emmis' 4.2kW Urban AC WBLS-FM and 6.7kW Rhythmic CHR WQHT-FM (Hot 97) in New York for $91.5 million cash to their new public company Mediaco Holdings. Also part of the consideration is a $5 million note receivable and 23.72% of the common equity of Mediaco.

Emmis will distribute the common equity of Mediaco pro rata to its shareholders in a taxable dividend. Mediaco will be a public company expected to be listed on NASDAQ, and Emmis will remain a separate public company, as well.
Click to expand...


Here is an update as Emmis forms Mediaco and it will be a separate entity from Emmis.
 
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