Emmis sells WVUE-TV, completes TV divestiture

Emmis Communications sold the New Orleans station, completing the sale of its 16 TV stations, a process that began in May 2005
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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.