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Emmis Announces Launch Of Modified "Dutch Auction" Tender Offer To Purchase Up To $6 Million Of Its 6.25% Series A Preferred Stock

The information agent and depositary for the tender offer is BNY Mellon Shareowner Services.  Paul, Weiss, Rifkind, Wharton & Garrison LLP and Taft Stettinius & Hollister LLP are acting as Emmis' legal counsel in the tender offer.  When the tender offer is commenced, the offer to purchase and related documents are being mailed to holders of record of Preferred Shares and also will be made available for distribution to beneficial owners of Preferred Shares.  For questions and information, please call the information agent toll free at (866) 301-0524.

Tender Offer Statement

THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO SELL PREFERRED SHARES.  THE TENDER OFFER WILL BE MADE ONLY PURSUANT TO THE OFFER TO PURCHASE AND RELATED MATERIALS THAT EMMIS WILL BE DISTRIBUTING TO ITS HOLDERS OF PREFERRED SHARES.  SHAREHOLDERS AND INVESTORS SHOULD READ CAREFULLY THE OFFER TO PURCHASE AND RELATED MATERIALS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. 

SHAREHOLDERS AND INVESTORS MAY OBTAIN A FREE COPY OF THE TENDER OFFER STATEMENT ON SCHEDULE TO, THE OFFER TO PURCHASE AND OTHER RELATED DOCUMENTS THAT EMMIS WILL FILE WITH THE SECURITIES AND EXCHANGE COMMISSION (WHEN AVAILABLE) AT THE COMMISSION'S WEB SITE AT WWW.SEC.GOV OR FROM EMMIS' WEBSITE AT WWW.EMMIS.COM.  SHAREHOLDERS AND INVESTORS ARE URGED TO CAREFULLY READ THESE MATERIALS, WHEN AVAILABLE, PRIOR TO MAKING ANY DECISION WITH RESPECT TO THE OFFER.

Forward-Looking Statements

Certain statements included in this press release which are not statements of historical fact, including but not limited to those identified with words such as "anticipate," "believe," "could," "continue," "estimate," "feel," "forecast," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "seek," "should,", "would," "expect," "will," "look" or similar expressions and various or negatives of such words are intended to be and are "forward-looking statements," as defined in the Securities and Exchange Act of 1934, as amended.  Similarly, statements herein that describe Emmis' business strategy, prospects, opportunities, outlooks, objectives, plans, intentions or goals are also forward-looking statements.  Such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Emmis to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements and Emmis cannot assure you that its expectations will be achieved or that any deviations will not be material.

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