Emmis Communications history

Within six months of entering the market WENS was earning a respectable 7 share in the Arbitron ratings, and in 1983 the company purchased a second station, WLOL in Minneapolis, for $6 million.

1986: Three stations are acquired for $53.6 million from Doubleday Broadcasting.

1987: WFAN-AM, country's first all-sports station, is launched in New York City.

Emmis also bought adult-contemporary formatted KKHT-FM in Houston during 1988, which later became known as KNRJ.

With interest payments eating up more and more of his company's revenues, in 1990 Smulyan decided to sell WLOL to Minnesota Public Radio for $12 million, and to take a $1 million pay cut.

Despite such measures, when the company's year-end figures were tallied in early 1991 a record loss of $23 million was reported on revenues of $94.7 million.

In 1993 Smulyan arranged for issuance of $90 million in notes to help pay down the company's debt.

1995: Emmis becomes the first company to own top rated radio stations in NY and LA simultaneously

Passage of the 1996 Telecommunications Act by the United States Congress, which further deregulated the industry, led to more acquisitions in the fall when Emmis reached a deal to buy three radio stations in St Louis from Zimco, Inc. for $42.5 million.

The company reported revenues of $103.3 million for the year ending in February, 1997, with earnings a healthy $15.4 million.

In January 1998 Emmis spent $37 million to buy Mediatex Communications Corp., parent company of magazine publisher Texas Monthly, Inc., and two other subsidiaries.

The spring of 2000 saw Emmis resolve its legal dispute with Sinclair Broadcast Group.