Posted by Reality Czech on May 15, 2010 at 08:25:44:
In Reply to: Is Emmis getting ready to call it quits in Chicago? posted by Bud on May 14, 2010 at 19:20:31:
This has actually been public for several years now. The Loop and Q101 are not for sale nor will they be sold anytime soon. The sports talk story is pure fiction.
They are simply stating that they would entertain selling these properties if they should find themselves in financial trouble. Indy, Austin, and St. Louis wouldn't gather much cash (and they wouldn't part with Power 106) so they opted to throw out Chicago and New York. It's called covering your ass with investors.
Q is enjoying some of the best ratings in station history and The Loop was top 5 with M 25-54 last month. These stations are hardly tanking. If anything, they are performing above expectation. It sounds like some former, bitter employees are hoping for the worst, but I wouldn't hold your breath.