Emmis Awarded Favorable Ruling In Preferred Stock Litigation

INDIANAPOLIS, March 20, 2014 /PRNewswire/ — Judge Sarah Evans Barker of the
United States District Court, Southern District of Indiana, has ruled in favor
of Emmis Communications (Nasdaq: EMMS) in a suit filed by dissident preferred
shareholders.

“We were confident in our position, and the federal court has confirmed it,”
said Jeff Smulyan, President and CEO of Emmis Communications.

A copy of the ruling can be found here, or by emailing kate@emmis.com.

Note: Certain statements included in this press release which are not statements
of historical fact, including but not limited to those identified with the words
“expect,” “will,” “plan,” “should” or “could” are intended to be, and are, by
this Note, identified as “forward-looking statements,” as defined in the
Securities and Exchange Act of 1934, as amended. Such statements involve known
and unknown risks, uncertainties and other factors that may cause the actual
results, performance or achievements of the Company to be materially different
from any future result, performance or achievement expressed or implied by such
forward-looking statement. Such factors include, among others:

— general economic and business conditions;
— fluctuations in the demand for advertising and demand for different
types of advertising media;
— our ability to service our outstanding debt;
— increased competition in our markets and the broadcasting industry;
— our ability to attract and secure programming, on-air talent, writers
and photographers;
— inability to obtain (or to obtain timely) necessary approvals for
purchase or sale transactions or to complete the transactions for other
reasons generally beyond our control;
— increases in the costs of programming, including on-air talent;
— inability to grow through suitable acquisitions or to consummate
dispositions;
— changes in audience measurement systems
— new or changing regulations of the Federal Communications Commission or
other governmental agencies;
— competition from new or different technologies;
— war, terrorist acts or political instability; and
— other factors mentioned in documents filed by the Company with the
Securities and Exchange Commission.
Emmis does not undertake any obligation to publicly update or revise any
forward-looking statements because of new information, future events or
otherwise.

SOURCE Emmis

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