Although iHeartMedia’s dance with bankruptcy is widely seen as a key indicator of the health of the radio industry more broadly, that company is not alone in reconfiguring its approach to finance capital. Two other conglomerates are also making moves — one trying to leave the stock-trade behind while another wants to jump back into those waters.
First up is Emmis Communications: the Indianapolis-based company has been hammered in the stock market over the last few years, threatened with delisting by NASDAQ after its stock dropped below $1 per share in 2015. After conducting a reverse-stock split earlier this year (reducing the number of shares in circulation, thereby inflating the price of remaining shares) which brought the company back into compliance, company founder and CEO Jeff Smulyan has announced a $46 million bid to take the company private. Continue reading “More Radio Industry Market-Maneuvering Afoot”
Tag: jeff smulyan
Broadcasters Begin Push for Radio Chips in Phones
On June 6, the House of Representatives’ Subcommittee on Communications and Technology held a hearing on “The Future of Audio” – an open-ended, quasi exploratory affair covering several subjects. Of note was the testimony of Jeff Smulyan, the President and CEO of Emmis Communications.
Emmis, in conjunction with iBiquity Digital Corporation and Intel, unveiled a prototype smartphone with FM-HD reception capability at the National Association of Broadcasters’ annual convention in April. The NAB itself has publicly acknowledged that getting FM reception into phones is its number one legislative priority this year. Continue reading “Broadcasters Begin Push for Radio Chips in Phones”