about emmis
Emmis Communications (NASDAQ: EMMS) owns 23 FM and 4 AM
domestic radio stations serving the nation’s largest markets of New
York, Los Angeles and Chicago as well as Phoenix, St. Louis, Austin,
Indianapolis and Terre Haute, Ind. In addition, Emmis owns 16 television
stations, award-winning regional and specialty magazines, a radio net-
work, international radio interests, and ancillary businesses in broadcast
sales and publishing. 
Emmis was founded in 1980, and the company launched its first radio
station, WENS-FM, in July 1981. As Emmis (the Hebrew word for
“truth”) acquired more radio stations across the nation, it established a
reputation for sound operations and emerged as a radio industry leader
and innovator. Emmis was the first broadcast company to own top-
rated radio stations in both L.A. and New York, and it pioneered such
concepts as the all-sports format.
The company launched its magazine division in 1988 with the purchase
of Indianapolis Monthly, and moved into the world of international radio
in 1997, when it was awarded a license to operate a national radio 
network in Hungary. In 1998, Emmis expanded into television by buying
six television stations in markets throughout the United States. In the last
six years, the company has added properties in each of its divisions.
With its emphasis on solid operations, integrity, community involvement
and fun, the company’s culture has been repeatedly lauded by both its
employees and its peers. Trade publications have regularly cited the
company’s leaders as being among the best in the business. 
Emmis became a public company in 1994. It maintains its worldwide
headquarters in Indianapolis, where the company was founded.
This annual report contains certain non-GAAP measures. For a presen-
tation of the directly comparable GAAP measure and a reconciliation of
the non-GAAP measures to the GAAP measures, see the attachment to
the back of our Form 10-K in this Annual Report.