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Emmis Sells New Orleans Station to Saints Owner

May 5, 2008  •  Post A Comment

Emmis Communications Corp. has signed an agreement to sell Fox affiliate WVUE-TV in New Orleans to Tom Benson, owner of the New Orleans Saints football team.
The deal marks the last TV station Emmis had to sell since announcing its shift in focus toward its radio and publishing business.
“We have enjoyed a great relationship with [Mr. Benson] in the past as a broadcaster of Saints [football] games, and it is particularly gratifying to transfer stewardship of this remarkable station to someone who is so committed to the New Orleans community,” said Jeff Smulyan, Emmis chairman-CEO. “[Mr. Benson] is getting a station that is stronger than ever.”
The purchase is valued at $41 million, with after-tax proceeds to Emmis expected to be about $35.5 million. Emmis also will retain net working capital estimated at about $4 million.
The agreement is still pending FCC approval and other conditions, but should close later this year.

14 Comments

  1. Og Good! Now we can watch Mr. Benson second lining with his umbrella seven days a week instead of just one! I mean THAT’S EXCITING!! wow!!! Benson on station breaks and in the middle of newscasts, not to mention weather breaks and kids programming. This is what the FCC was talking about when they said programming should be in the interest of the public etc. I can’t wait! This sure beats Ninja Warrior all to hell! Wow!!

  2. I think all of the fans may like it too.

  3. This is getting a bit more subjective, but I much prefer the Zune Marketplace. The interface is colorful, has more flair, and some cool features like ‘Mixview’ that let you quickly see related albums, songs, or other users related to what you’re listening to. Clicking on one of those will center on that item, and another set of “neighbors” will come into view, allowing you to navigate around exploring by similar artists, songs, or users. Speaking of users, the Zune “Social” is also great fun, letting you find others with shared tastes and becoming friends with them. You then can listen to a playlist created based on an amalgamation of what all your friends are listening to, which is also enjoyable. Those concerned with privacy will be relieved to know you can prevent the public from seeing your personal listening habits if you so choose.

  4. Hands down, Apple’s app store wins by a mile. It’s a huge selection of all sorts of apps vs a rather sad selection of a handful for Zune. Microsoft has plans, especially in the realm of games, but I’m not sure I’d want to bet on the future if this aspect is important to you. The iPod is a much better choice in that case.

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