EMMIS COMPLETES ACQUISITION OF SINCLAIR AND BONNEVILLE RADIO PROPERTIES

Indianapolis – EMMIS Communications Corporation (NASDAQ: EMMS) today announced that it has completed its previously-announced acquisition from Sinclair Broadcast Group Inc. (NASDAQ: SBGI) of six St. Louis radio stations for $220 million. Also announced today was the completion of EMMIS’ swap with Bonneville International Corporation of four EMMIS’ St. Louis properties – WKKX-FM and newly-acquired-from-Sinclair WIL-FM, WRTH-AM, WVRV-FM – in exchange for KZLA-FM in the nation’s #2 market, Los Angeles.

In Los Angeles, EMMIS will now own KPWR-FM (Power 106) and KZLA-FM (Country 93.9). In St. Louis, EMMIS will now own KSHE-FM (KSHE95), KPNT-FM (105.7 The Point), KXOK-FM (The Rock), KIHT-FM (K-Hits 96) and WXTM-FM (104.1 THE MALL) in St. Louis.

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Emmis is an equal opportunity employer. We believe in the dignity and the worth of every individual.  We will not discrimi­nate against or favor any employee or applicant, or make any decision or take any action, based on race, color, national origin, citizenship status, creed, religion, religious affiliation, age, sex, marital status, sexual orientation, gender identity, disability, veteran status, or any other protected status. Emmis also prohibits any discriminatory or demeaning language, emphasis, characterization or conduct by its employees that may harass, intimidate, insult, ridicule, emphasize, or characterize another person because of his/her race, color, religion, national origin, sex, age, sexual orientation, disability or other legally-protected status or characteristic.

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