Emmis Announces Reports for Fourth Quarter

Apr 14, 2005  •  Post A Comment

Emmis Communications, a broadcasting company that owns 16 television stations, reported Thursday that it fell deeper into the red in the fourth quarter, due to a $303 million accounting charge.

The Indianapolis-based company recorded a net loss of $266 million, compared with red ink of $21.4 million a year ago. Revenue rose 5 percent to $137.9 million.

For the year Emmis reported a loss of $304.4 million, compared with a year-earlier profit of $2.3 million. Revenue climbed 9 percent to $618.5 million.

Within the television division, revenue advanced slightly to $56.6 million for the quarter and $264.9 million for the year, compared with year-earlier figures of $56.4 million and $235.9 million, respectively.