FOR IMMEDIATE RELEASE
Edinger Associates Assists Emmis with $131 Million Purchase of Two NYC Radio Stations
February 21, 2014, Washington, DC — Edinger Associates PLLC served as transactional and FCC counsel to Emmis Communications Corporation (Nasdaq: EMMS) in its purchase of urban, adult, contemporary radio station WBLS 107.5, and its sister station WLIB 1190, for $131 million in cash from YMF Media. WBLS is the No. 2 radio station in New York, and WLIB is New York’s first African-American targeted station offering an urban gospel format.
The transaction involves a Local Programming and Marketing Agreement pursuant to which Emmis will begin to program the stations on March 1, 2014, assuming Hart-Scott-Rodino clearance has been received. In addition, there will be two closings, one following initial grant of FCC consent to assignment of the stations’ FCC licenses, and the second to follow in February 2015.
The Edinger Associates team was led by Brook Edinger with the assistance of Partners Ladd Johnson and Scott Woodworth, and Senior Counsel Dag Wilkinson, as well as Attorney Kristen Basie, and Legal Assistant Mikki Stuart.
About Edinger Associates
Edinger Associates is a boutique business and finance law firm based in Washington, DC, with a focus on general corporate, mergers and acquisitions, exchanges, joint ventures, financing and capital formation, restructuring, and communications regulatory and licensing matters. Our core expertise is in assisting enterprises, lenders, and investors to identify, arrange, negotiate, and close deals. Clients range in size from global multinationals to start-ups and individuals. Our approach has proven successful in hundreds of deals involving billions of dollars of assets. For more information, visit www.edingerlaw.net.