Emmis Corporation · OTC:EMMS

Emmis — Emmis Communications — Shareholder Meeting (July 2017)

18 slides from Emmis's shareholder meeting presentation, Jul 13, 2017

  1. Slide 1: Emmis Communications Annual Meeting of Shareholders

    Emmis Communications Annual Meeting of Shareholders July 13, 2017 10:00 a.m.

  2. Slide 2: Forward-looking statements note

    2 • Note: Certain statements in this presentation constitute “forward- looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results,

  3. Slide 3: Emmis Overview

    3 Emmis Overview  Headquartered in Indianapolis, IN, Emmis is a publicly traded radio broadcasting communications company (NASDAQ: EMMS). The Company was incorporated in 1979 and went public in 1994  Emmis owns 16 FM and 3 AM radio stations in New York, Los Angeles, St. Louis, Austin (has 50.1% co

  4. Slide 4: Radio Industry – Unparalleled Reach

    4 Radio Industry – Unparalleled Reach Radio remains the #1 reach medium in the United States Source: The Nielsen Company and Wells Fargo Securities, LLC

  5. Slide 5: Radio Remains Highly Efficient for Advertisers

    5 Radio Remains Highly Efficient for Advertisers Source: Wells Fargo Securities, LLC Despite superior reach, radio remains an inexpensive option for advertisers.

  6. Slide 6: Emmis Radio Pro Forma Market Summary

    6 Emmis Radio Pro Forma Market Summary FY17 Radio Net Revenues 100% = $112.5 million FY17 Radio Station Operating Income 100% = $28.0 million Note: Excludes 98.7FM in NY. Reflects 50.1% of Austin radio stations Pro forma for the sale of our Los Angeles radio station, our radio division will consist

  7. Slide 7: New York Update

    7 New York Update FY17 NY market revenue summary National +8% Local -2% Network/NTR +1% Digital +2% Total revenues Flat Emmis total NY revenues -3% New York Market Revenue Summary Q1 FY18 NY market revenue summary National -18% Local -1% Network/NTR +27% Digital +4% Total revenues -1% Em

  8. Slide 8: Austin Update

    8 Austin Update FY17 Austin market revenue summary National -10% Local +2% Network/NTR +1% Digital +14% Total revenues flat Emmis total Austin revenues -1% Austin Market Revenue Summary Q1 FY18 Austin market revenue summary National -6% Local -1% Network/NTR +23% Digital -32% Total revenu

  9. Slide 9: Indianapolis Update

    9 Indianapolis Update FY17 Indy market revenue summary National +6% Local -2% Network/NTR +2% Digital +11% Total revenues +1% Emmis total Indy revenues -4% Indianapolis Market Revenue Summary Q1 FY18 Indy market revenue summary National -9% Local -3% Network/NTR +13% Digital -13% Total re

  10. Slide 10: St. Louis Update

    10 St. Louis Update FY17 STL market revenue summary National +2% Local flat Network/NTR +10% Digital +5% Total revenues +1% Emmis total STL revenues +11% St. Louis Market Revenue Summary Q1 FY18 STL market revenue summary National +1% Local -6% Network/NTR +18% Digital +18% Total revenues

  11. Slide 11: Summary of Recent Asset Sales

    11 Summary of Recent Asset Sales Asset(s) Closing Date Sales Price LTM SOI* Sales Multiple Texas Monthly November 1, 2016 $25.0 million $0.8 million 31x Terre Haute radio stations January 30, 2017 $5.2 million $0.2 million 26x Los Angeles, Atlanta, Cincinnati and Orange Coast Magazines February 28,

  12. Slide 12: Leverage Comparables

    12 Leverage Comparables Pro forma for the sale of KPWR, Emmis’ leverage ratio is among the lowest in the radio industry. N e t L e ver a g e R a ti o 11.0 10.8 7.1 5.1 4.9 4.5 4.3 4.1 0.2 Source: Wells Fargo Securities, LLC report dated June 28, 2017

  13. Slide 13: Valuation Comparables

    13 Valuation Comparables Despite a pro forma leverage ratio at the low end of radio comparables, Emmis trades at a steep discount to its peers. Source: Wells Fargo Securities, LLC report dated June 28, 2017 2 0 1 6 E n ter p ri s e V a lu e /EBI T D A 6.1 6.7 7.7 8.0 8.1 8.3 8.3 10.9 11.2

  14. Slide 14: Emerging Technologies: NextRadio and Digonex

    14  Offers dynamic pricing solutions to help clients optimize revenues given supply and demand conditions  Targeted sectors primarily include performing arts, live entertainment, zoos, aquariums, theme parks, cultural institutions and retail  Revenues expected to nearly triple in fiscal 2018 Emer

  15. Slide 15: Why Add Streaming to NextRadio?

    15 Why Add Streaming to NextRadio?  Support all platforms for local radio listening  Expand number of listeners to FM local radio and enhance measurement  Apple version important to enable connected car product  Provides richer and more robust data insights to broadcasters and brands  Remain fo

  16. Slide 16: NextRadio Auto Solution

    16 NextRadio Auto Solution  Ensure that tuner access is everywhere users are listening and ensure that more profitable and efficient distribution is part of all user interfaces  Improve embedded tuner experience for in-car radio listener  Enable users of Android Auto(AA)/Apple CarPlay(CP) to use

  17. Slide 17: NextRadio Product – International

    17 NextRadio Product – International • FM radio broadcasting technology is the same around the world. We are leveraging the work we are doing with handset manufacturers to make NextRadio available in markets across North and South America.  Product is live in Google Play for Canada, Mexico, Colombi

  18. Slide 18: Emmis Communications Annual Meeting of Shareholders

    Emmis Communications Annual Meeting of Shareholders July 13, 2017 10:00 a.m.

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