Emmis Communications
Emmis Corporation is an entrepreneurial company with a history in media, entertainment, and digital content, currently focusing on high-potential middle-market companies. Founded in Indiana in 1980, Emmis owns Lencore Acoustics and Digonex, and has sold over $2 billion in media assets to refocus its investments.
Company History
Emmis Communications, originally incorporated in Indiana in 1980, has a rich history in media and entertainment. The company became publicly traded on the NASDAQ under the symbol EMMS in 1994. Emmis made history in 1995 by being the first company to own top-rated radio stations in both New York and Los Angeles simultaneously. In 1998, Emmis Broadcasting changed its name to Emmis Communications and moved into its worldwide headquarters on Monument Circle in Indianapolis.
Media and Entertainment Ventures
Emmis Communications has a longstanding presence in the media and entertainment sectors. The company was an investor in Calamari Productions, which focuses on TV series, independent films, and digital content distribution. At its peak, Emmis owned a portfolio of radio stations, including an AM station operated by Emmis and an FM station in New York operated by ESPN. In 2022, Emmis sold its Indianapolis radio stations to Urban One.
Business Investments and Strategic Focus
Emmis Communications owns and invests in businesses across various industries, focusing on sales and marketing expertise for growth. The company currently owns Lencore Acoustics, a leader in sound masking and audio solutions, and Digonex, a provider of dynamic pricing solutions. Emmis targets high-potential middle-market companies with robust revenue and cash flow, aiming for majority recapitalizations. A recent investment, Anzu, completed a $48 million Series B funding round in June 2023.
Corporate Culture and Leadership
Emmis Communications is known for its highly entrepreneurial approach and award-winning corporate culture. The company places a strong emphasis on gender and ethnic diversity in its investments, aligning with its core values. Emmis has made significant strides in creating an inclusive work environment and continues to identify and invest in companies that share these principles.
Recent Developments
Emmis Communications has made several strategic moves in recent years. In June 2022, the company sold its Indianapolis radio stations to Urban One. Emmis announced plans in September 2023 to seek a buyer for its corporate headquarters at 40 Monument Circle in Indianapolis. Additionally, Emmis declared a $0.50 per share dividend, payable on September 22, 2023, signaling a commitment to shareholder value.