Emmis Switches From Interep To Katz
October 1, 2007 at 12:10 PM (PT)
In a well-timed display of professionally amicable press releases, EMMIS RADIO has basically discontinued its use of INTEREP and has forged a new relationship with KATZ, covering all EMMIS stations in NEW YORK, LOS ANGELES, CHICAGO, ST. LOUIS, INDIANAPOLIS, AUSTIN and TERRE HAUTE, IN. KATZ started selling advertising time on EMMIS stations today (10/1).
"We have long admired EMMIS’ reputation for broadcasting excellence, and we are delighted to enter into a partnership that we believe will create long-term value for both companies," said KATZ CEO STU OLDS. "EMMIS CEO JEFF SMULYAN and Radio President RICK CUMMINGS have built a world-class radio operation, and I believe the strength and reach of our two companies allows us to offer advertisers the highest level of choice, service and accountability in the market."
"We are pleased to announce this deal with KATZ RADIO GROUP," said RICK CUMMINGS. "STU OLDS, MARK GRAY and the management team there have built a great reputation for sales talent, customer service and outstanding relationships. We are very happy to have this partnership."
KATZ Pres. MARK GRAY added, "We place great importance on finding new ways to increase revenue streams and improve service for our clients. I am confident that the combination of EMMIS’ strong station lineup and the depth of KRG’s dedicated sales force will produce outstanding results in the years ahead."
Interep Says Decision Best For Both Parties
At about the same time, INTEREP announced the termination of its representation of EMMIS stations.
INTEREP CEO DAVE KENNEDY stated. "The relationship between INTEREP and EMMIS has been long and mutually profitable. As I have known for many years, and have learned first-hand since joining INTEREP, that relationship has been founded on trust, collaboration, innovation and shared vision. Each company is now at a stage in its development where strategic change is of great importance in defining its future. This decision, although very difficult for each of us, works in the best financial interests of both companies, and sets the stage for each to better accomplish its objectives. INTEREP wishes EMMIS well, and looks forward to the opportunity to partner with them again in the future."
INTEREP Pres./COO MIKE WALSH added, "I am extremely proud of the D&R team and the effort they put forth for EMMIS. D&R sellers can match any competitor in terms of customer service, sales strategies and commitment to their client. We continue to look ahead to new opportunities to strengthen our client base and hope that we will have a chance to work with EMMIS again in the future."
EMMIS CEO JEFF SMULYAN SAID, "This was one of the most difficult decisions we've ever had to make. I have tremendous respect for DAVID KENNEDY and his team, and I greatly value his industry leadership and expertise. However, we have determined that this the right decision for EMMIS going forward. We wish them nothing but the best."