|Day's Range||2.58 - 2.68|
|52 Week Range||1.92 - 4.33|
|PE Ratio (TTM)||2.88|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
Six broadcasting and media companies, holding $22.4 billion in rated debt, are at high risk of defaulting in the next year, according to an exclusive report from a ratings firm.
Emmis Communications Corp. (EMMS) sold Atlanta, Cincinnati, Orange Coast and Los Angeles magazines to Hour Media Group LLC for $6.5 million. “It is always difficult to make a decision to sell, but this step helps us to continue to address our debt leverage and to focus on our growth initiatives,” Emmis Chairman and CEO Jeff Smulyan said, in a statement. As Atlanta Business Chronicle reported first in February , Indianapolis-based Emmis placed all its city and regional magazines on the market to pay down debt.
Cincinnati Magazine, a fixture on the city’s media-scape for 50 years, has been sold. Emmis Communications Corp. , an Indianapolis-based public company (EMMS) that has owned the monthly publication for 20 years, announced Tuesday that it closed the sale of Cincinnati, Atlanta, Orange Coast(south of Los Angeles) and Los Angeles magazines to Hour Media Group LLC, based in Detroit. "Cincinnati Magazine's transition of ownership to Hour Media is an exciting and celebratory occasion for our publication," publisher Ivy Bayer said Wednesday.