Emmis sells WVUE-TV, completes TV divestiture
July 23, 2008
Emmis Communications has completed the sale of FOX affiliate WVUE-TV in New Orleans to Louisiana Media Company for $41 million, with after-tax proceeds of about $35.5 million, the company said July 18.
The sale of WVUE completes the divestiture of Emmis' TV assets. Since announcing its intent to exit the TV business in May 2005, Emmis has sold all of its 16 TV stations, resulting in gross proceeds of about $1.24 billion.
For more information, visit www.emmis.com.