The Indianapolis-based company is interested in selling Country WTHI 99.9 FM, Rock WWVR 105.5 FM, Top40 WFNB 92.7 FM and Sports WFNF 1130 AM to address the company’s debt, CEO Jeff Smulyan wrote in a company-wide message last week.
On Tuesday, Smulyan declined to comment on sales specifics but did say he is involved in “active discussions,” according to TribStar.com.
Country powerhouse WTHI-FM has long dominated Wabash Valley Nielsen ratings, but Terre Haute is the smallest of the company’s six markets. Smulyan said the community doesn’t fit in future plans.
Smulyan said listeners shouldn’t expect any programming changes unless a sale is finalized. Emmis is also seeking buyers for one New York station and the publishing division, excluding “Indianapolis Monthly.”
Bonuses will be provided to keep employees if an offer is negotiated, Smulyan wrote in a company-wide message. Severance packages will be given to those let go if the properties are sold, he added.
The company doesn’t anticipate selling any other assets at this point, Smulyan told the Tribune-Star.
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