INDIANAPOLIS, April 22, 2014 /PRNewswire/ -- Emmis
Communications Corporation (Nasdaq: EMMS) has entered into a joint
venture with Flexco, owned by popular Emmis personality Funkmaster
Flex, to build a network of owned and operated digital platforms
for Emmis' biggest personalities.
One of radio's most visible personalities, Flex has built a
large online and mobile audience with InFlexWeTrust.com and the DJ
Funk Flex Mobile app. Flex will be working with other
personalities in New York and in
other Emmis markets to develop similar digital footprints.
Emmis plans to develop a network of sites, apps and
social networks with the unique entertainment and news content
young audiences and advertisers desire. Flex has already
launched AngieReview.com for Angie
Martinez, Afternoon Drive Personality on
Hot97, ThatsEnuff.com for DJ Enuff on Hot 97 and is working on
a digital project for Hot97's morning show personality Ebro Darden.
"We're thrilled to invest in Flex's digital assets and work
closely with him to continue to innovate in the digital space,"
said Patrick Walsh, CFO, COO and
Emmis Radio Division President. "Flex has built a
successful mobile and online platform that reaches more than 5
million people monthly and he already has started work with other
talented Emmis personalities at Hot 97 to expand their digital
presence. We expect this partnership to enable us to
rapidly expand our digital content offering for our passionate fans
and advertisers."
"Today's digital world has changed how
personalities and DJs interact with listeners and music
fans," Flex said. "We must reinvent ourselves to stay relevant and
grow. I jumped in feet first to learn what it takes to create
an audience online. The partnership with Emmis provides the
foundation we need to turn our brands and personalities into a real
digital business. The opportunity to share what I have
learned is exciting, and our future lives in doing digital
with our biggest brands and best personalities."
While financial terms were not disclosed, the investment will
give Emmis a 40% ownership in Flexco.
Emmis Communications – Great Media, Great People, Great
Service®
About Emmis Communications
Emmis Communications Corporation is a diversified media company,
principally focused on radio broadcasting. Emmis operates the 9th
largest radio portfolio in the United
States based on total listeners. Emmis owns 18 FM and
3 AM radio stations in New York, Los
Angeles, St. Louis,
Austin (Emmis has a 50.1%
controlling interest in Emmis' radio stations located there),
Indianapolis and Terre Haute, IN and operates two additional
stations in New York (1 FM and
1 AM) pursuant to a Local Marketing
Agreement ("LMA") whereby Emmis provides the programming for these
stations and sells all advertising within that programming pending
its acquisition of the stations. In addition, one of the FM radio
stations Emmis currently owns in New
York is operated pursuant to a LMA by a third party.
SOURCE Emmis Communications Corporation