Emmis Announces Dividend on Convertible Preferred Stock

Emmis Announces Dividend on Convertible Preferred Stock

INDIANAPOLIS, Dec. 6 /PRNewswire-FirstCall/ -- Emmis Communications Corporation (NASDAQ:EMMS) today announced that its Board of Directors declared a dividend for its 6.25% convertible preferred stock (NASDAQ:EMMSP), with a record date of Jan. 2, 2008, and a payable date of Jan. 15, 2008.

The per share dividend for the quarter is $.78125. One share of Emmis preferred stock is convertible to 2.44 shares of Emmis Class A Common Stock using the conversion price of $20.495 a share.

Emmis Communications - Great Media, Great People, Great Service(R)

Emmis is an Indianapolis-based diversified media firm with radio broadcasting, television broadcasting and magazine publishing operations. Emmis owns 21 FM and 2 AM domestic radio stations serving the nation's largest markets of New York, Los Angeles and Chicago, as well as St. Louis, Austin, Indianapolis and Terre Haute, IN. Emmis owns a radio network, international radio stations, regional and specialty magazines and ancillary businesses in broadcast sales and book publishing.

First Call Analyst:
FCMN Contact:

Source: Emmis Communications Corporation

CONTACT: Kate Snedeker of Emmis Communications Corporation,
+1-317-684-6576

Web site:

http://www.emmis.com/

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