SOFIA (Bulgaria), March 17 (SeeNews) - U.S.-based Emmis International, a subsidiary of NASDAQ-listed media company Emmis Communications, on Monday launched a new radio station in Bulgaria, where it already operates.
“The new radio STAR FM is for rock music, and it will broadcast in the place of Inforadio nationwide in Bulgaria,” Emmis International said in a statement.
Inforadio, which the company bought at the end of 2007 for an undisclosed sum, went off air. In Bulgaria, Emmis International has majority stakes in two other stations, Radio FM+ and Radio Fresh!. Outside the U.S. the company also operates radio stations in Belgium, Hungary and Slovakia.
The parent company Emmis Communications (www.emmis.com) is a diversified media corporation with radio broadcasting and magazine publishing operations. The group owns 21 FM and two AM radio stations in the United States.
For the first nine months of its fiscal year ended on February 29, 2008, Emmis Communications net revenue was some $203.98 million (129.35 million euro), down from $214.63 million a year earlier. Over 90% of the revenue is generated by the company's radio division.
($=0.6337 euro)
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