Industry News

Emmis to Sell Indianapolis Headquarters

Emmis Corporation is putting its corporate headquarters at 40 Monument Circle in Indianapolis up for sale and it continues to purge itself of its radio-era assets. Emmis chairman and founder Jeff Smulyanim comments, “Monument Circle has been Emmis’ home since 1998, and I’m proud of what we built, and the people who helped build it. As we divested assets, including our local radio stations, we weighed what to do with the building and ultimately decided that it made sense to look for a new owner.” Last year, Emmis sold its Indianapolis radio stations – including heritage news/talk WIBC-FM and sports talk “The Fan” – to Urban One. Those stations are still operating from the Monument Circle studios. FOX59 in Indianapolis reports that “the sale of the building would not immediately impact the current tenants, which include Star Bank and several Urban One radio stations such as WIBC. Emmis did not clarify, however, if these tenants would have to negotiate new leases with the eventual purchasers or if they could be required to relocate within a specific time following a sale.” See the FOX 59 report here.