Emmis Completes Note Buyback

Emmis

EMMIS COMMUNICATIONS CORP. announced FRIDAY that subsidiary EMMIS OPERATING CO. has completed its offer to buy back at par value all of its outstanding 6-7/8% Senior Subordinated Notes due 2012 pursuant to an asset sale offer and a tender offer for the balance of the Notes combined with a consent solicitation. 

The offers expired at midnight ET THURSDAY, with $7,449,000 in aggregate principal amount of notes (approximately 1.99% of outstanding notes) tendered and accepted for purchase under the asset sale offer, and $367,433,000 in aggregate principal amount of notes (approximately 97.98% of outstanding notes) tendered and accepted for purchase under the tender offer.

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