Emmis Corporation · OTC:EMMS
Emmis — Emmis Communications — Shareholder Meeting (July 2019)
10 slides from Emmis's shareholder meeting presentation, Jul 11, 2019
Slide 1: Emmis Communications Annual Meeting of Shareholders
Emmis Communications Annual Meeting of Shareholders July 11, 2019 10:00 a.m.
Slide 2: Forward-looking statements note
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, perfo
Slide 3: Year of Transition
Year of Transition “We really are now in the end stages of restructuring this company. We've noted that in the past 12 years, we’ve paid off over $1.3 billion of debt. We think that's a remarkable achievement. We made a conscious decision a while ago that we would move into new areas. And we think t
Slide 4: Why Transition from Radio?
Why Transition from Radio? We believe radio has a long tail, but growth has stagnated. Increasingly difficult to compete for spot (national, local and network) and digital dollars without significant scale. We believed NextRadio could have reinvigorated radio listening in a way that sustained the ec
Slide 5: Los Angeles Radio Station Values
Los Angeles Radio Station Values
Slide 6: Recent Steps Taken
Recent Steps Taken Sold St. Louis radio stations in April 2018. $60 million of gross proceeds. 12x multiple of trailing twelve month station operating income Ceased investments in NextRadio and TagStation in fall of 2018 Increases annual operating income by approximately $8 million Signed agreement
Slide 7: What is Mediaco?
What is Mediaco? In connection with the sale of WQHT and WBLS in New York, Emmis will be creating Mediaco, a new publicly-traded company for the benefit of Standard General and our shareholders. Mediaco is expected to be listed on NASDAQ. Standard General will own approximately 76.3% of Mediaco thro
Slide 8: Pro Forma Emmis
Pro Forma Emmis Upon closing the Austin and New York transactions, Emmis expects to have approximately $88 million of cash on its balance sheet after settling all tax obligations and repaying all secured debt other than $13 million of mortgage debt In addition, Emmis will collect the working capital
Slide 9: Future Emmis
Future Emmis Immediately following the closing of the Austin and New York sales, Emmis will be operating at a net loss due to corporate overhead expenses Emmis intends to aggressively identify, pursue, and purchase new businesses with better growth prospects These businesses will become the new oper
Slide 10: Emmis Communications Annual Meeting of Shareholders
Emmis Communications Annual Meeting of Shareholders July 11, 2019 10:00 a.m.
Emmis Communications — Shareholder Meeting (July 2019) on 6ix