Emmis Sells Belgian Operation
July 13, 2009 at 6:06 AM (PT)
EMMIS announced in it's quarterly financial statement that it sold its unprofitable BELGIUM radio operations during the quarter to BELGIUM company ALFACAM GROUP NV for about $139, according to an INDIANA BUSINESS JOURNAL report.
The operation lost $682,000 last year and $561,000 in the first quarter. EMMIS wrote, "The sale allowed EMMIS to eliminate further operating losses."