Emmis Communications Corporation (Emmis) is a diversified media company, principally focused on radio broadcasting. The Company owns 18 frequency modulation (FM) and two amplitude modulation (AM) radio stations in New York, Los Angeles, St. Louis, Austin (Emmis has a 50.1% controlling interest in Emmis� radio stations located there), Indianapolis and Terre Haute, IN. One of the Company�s FM radio stations in Los Angeles and one of its FM radio stations in New York are operated pursuant to local marketing agreements (LMA�s) whereby third parties provide the programming for the stations and sell all advertising within that programming. In addition to its other domestic radio broadcasting operations, the Company owns and operates Network Indiana, a radio network that provides news and other programming to nearly 85 affiliated radio stations in Indiana.