Emmis Announces Investment in Funkmaster Flex

INDIANAPOLIS, May 6, 2014 /PRNewswire/ — Emmis Communications Corporation
(Nasdaq: EMMS) has entered into a joint venture with Flexco, owned by popular
Emmis personality Funkmaster Flex, to build a network of owned and operated
digital platforms for Emmis’ biggest personalities.

One of radio’s most visible personalities, Flex has built a large online and
mobile audience with InFlexWeTrust.com and the DJ Funk Flex Mobile app. Flex
will be working with other personalities in New York and in other Emmis markets
to develop similar digital footprints. Emmis plans to develop a network of
sites, apps and social networks with the unique entertainment and news content
young audiences and advertisers desire. Flex has already launched
AngieReview.com for Angie Martinez, Afternoon Drive Personality on Hot97,
ThatsEnuff.com for DJ Enuff on Hot 97 and is working on a digital project for
Hot97’s morning show personality Ebro Darden.

“We’re thrilled to invest in Flex’s digital assets and work closely with him to
continue to innovate in the digital space,” said Patrick Walsh, CFO, COO and
Emmis Radio Division President. “Flex has built a successful mobile and online
platform that reaches more than 5 million people monthly and he already has
started work with other talented Emmis personalities at Hot 97 to expand their
digital presence. We expect this partnership to enable us to rapidly expand our
digital content offering for our passionate fans and advertisers.”

“Today’s digital world has changed how personalities and DJs interact with
listeners and music fans,” Flex said. “We must reinvent ourselves to stay
relevant and grow. I jumped in feet first to learn what it takes to create an
audience online. The partnership with Emmis provides the foundation we need to
turn our brands and personalities into a real digital business. The opportunity
to share what I have learned is exciting, and our future lives in doing digital
with our biggest brands and best personalities.”

While financial terms were not disclosed, the investment will give Emmis a 40%
ownership in Flexco.

Emmis Communications – Great Media, Great People, Great ServiceĀ®
About Emmis Communications
Emmis Communications Corporation is a diversified media company, principally
focused on radio broadcasting. Emmis operates the 9th largest radio portfolio in
the United States based on total listeners. Emmis owns 18 FM and 3 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 and operates two additional stations in New York (1 FM and 1 AM)
pursuant to a Local Marketing Agreement (“LMA”) whereby Emmis provides the
programming for these stations and sells all advertising within that programming
pending its acquisition of the stations. In addition, one of the FM radio
stations Emmis currently owns in New York is operated pursuant to a LMA by a
third party.

SOURCE Emmis Communications Corporation


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