Emmis Sells Magazines

Emmis Communications has closed on the sale of Atlanta, Cincinnati, Orange Coast and Los Angeles magazines to Hour Media Group LLC. With these moves, Emmis has now divested all its publishing assets except for its hometown Indianapolis Monthly, which it intends to continue to operate. It was last August 18 when Emmis initially announced it was pursuing strategic alternatives for its Publishing Division, minus Indianapolis Monthly. Emmis announced the sale of Texas Monthly on October 13, 2016.

“We have been honored to own and operate these marquee titles, with some of the most dedicated, creative employees in the business,” said Emmis Chairman & CEO Jeff Smulyan. “We wish all of them well, and hope they enjoy tremendous success in the future.” He added, “It is always difficult to make a decision to sell, but this step helps us to continue to address our debt leverage and to focus on our growth initiatives.”