Emmis Corporation · OTC:EMMS

Emmis — Emmis Communications — Shareholder Meeting (July 2015)

16 slides from Emmis's shareholder meeting presentation, Jul 9, 2015

  1. Slide 1: Emmis Communications Annual Meeting of Shareholders

    Emmis Communications Annual Meeting of Shareholders July 9, 2015 11:00 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 operates one of the 10 largest radio portfolios in the US (based on number of listeners) - O

  4. Slide 4: Emmis has consistently delivered superior radio revenue performance

    4 Emmis has consistently delivered superior radio revenue performance Year ended 2/28 Emmis revenue growth Market revenue growth 2015 +1.6% -3.7% 2014 +4.9% +2.7% 2013 +3.3% -1.2% 20121 +4.0% +0.6% 20111 +6.7% +4.5% Emmis versus the market  Emmis wins! By 2%  Emmis wins! By 4%  Emmis wins! By 3%

  5. Slide 5: Emmis' Radio Strategy

    5 Emmis’ Radio Strategy Strategy based on smarts and speed; primary competitors focused on scale

  6. Slide 6: Emmis Radio Market Summary

    6 Emmis Radio Market Summary FY15 Net Revenues 100% = $149.5 million FY15 Station Operating Income 100% = $44.2 million Note: Excludes 98.7FM in NY. Reflects 50% of Austin radio stations New York + Los Angeles represent approximately 57% of our radio net revenues and 70% of our radio SOI 35% 22% 11%

  7. Slide 7: Emmis facing challenges in its two largest markets

    7 Emmis facing challenges in its two largest markets New York: Market softness Los Angeles: New direct competitor • For the twelve months ended 2/28/2015, the New York radio market was down 7%. Emmis’ stations in New York for the same period were down 5% • Wireless and beverage categories were excep

  8. Slide 8: Summary of publishing division performance

    8 Summary of publishing division performance Emmis achieved publishing division revenue growth of 2.3% in FYE 2015 $23.2 $12.4 $7.8 $5.4 $5.0 $3.1 Texas Los Angeles Atlanta Indianapolis Cincinnati Orange Coast Publishing division net revenues for fiscal year ended 2/28/2015 ($ millions) +7.9% -7.8%

  9. Slide 9: Emerging Technologies: NextRadio and Digonex

    9  Offers dynamic pricing solutions to help clients optimize revenues given supply and demand conditions  Emmis acquired majority control in June 2014  Clients include the Indianapolis Zoo, Lids, Broadway shows and sports teams Emerging Technologies: NextRadio and Digonex  Emmis intellectual pro

  10. Slide 10: NextRadio Product

    10 NextRadio Product NextRadio is… FM Radio on your Smartphone  NOT Internet Streaming  Intuitive Live Guide  Artist/program/commercial visuals  Station feedback  Real-time interactivity Enabled by TagStation® – cloud- based content delivery application software for broadcasters

  11. Slide 11: NextRadio Economic Opportunities

    11 Consumers Carriers Broadcasters  Free, unlimited audio entertainment from familiar, local radio stations without the data costs associated with streaming  3x longer battery life  Ability to seamlessly interact with familiar local radio stations  Revenue opportunity through partnership with br

  12. Slide 12: Near-term Actions to Deliver Shareholder Value

    12 Near-term Actions to Deliver Shareholder Value Stabilize Core Operations Build Future Growth Engines in Related Businesses Increase Free Cash Flow from Core Operations

  13. Slide 13: Compelling free cash flow yield valuation

    13 Compelling free cash flow yield valuation The summary below excludes the operations of 98.7FM in New York, which is operated pursuant to an LMA with Disney/ESPN FY15 EBITDA (See appendix for reconciliation) 29,286 Less: Capital expenditures (3,514) Less: Interest expense (13,863) FY15 Free Cash F

  14. Slide 14: Appendix

    Appendix communications

  15. Slide 15: EBITDA Reconciliation

    15 EBITDA Reconciliation LTM 2/28/2015 Trailing twelve-months operating income from continuing operations (34,063)$ Plus: Depreciation and amortization 5,926 Plus: Hungary litigation expenses and related costs 521 Plus: No cash compensation 2,813 Plus: LMA fees 4,208 Plus: Impairment loss 67,915 Les

  16. Slide 16: Emmis Communications Annual Meeting of Shareholders

    Emmis Communications Annual Meeting of Shareholders July 9, 2015 11:00 a.m.

Emmis Communications — Shareholder Meeting (July 2015) on 6ix