about emmis Emmis Communications (NASDAQ: EMMS) owns 23 FM and 4 AM domestic radio stations serving the nation’s largest markets of New York, Los Angeles and Chicago as well as Phoenix, St. Louis, Austin, Indianapolis and Terre Haute, Ind. In addition, Emmis owns 16 television stations, award-winning regional and specialty magazines, a radio net- work, international radio interests, and ancillary businesses in broadcast sales and publishing.  Emmis was founded in 1980, and the company launched its first radio station, WENS-FM, in July 1981. As Emmis (the Hebrew word for “truth”) acquired more radio stations across the nation, it established a reputation for sound operations and emerged as a radio industry leader and innovator. Emmis was the first broadcast company to own top- rated radio stations in both L.A. and New York, and it pioneered such concepts as the all-sports format. The company launched its magazine division in 1988 with the purchase of  Indianapolis Monthly , and moved into the world of international radio in 1997, when it was awarded a license to operate a national radio  network in Hungary. In 1998, Emmis expanded into television by buying six television stations in markets throughout the United States. In the last six years, the company has added properties in each of its divisions. With its emphasis on solid operations, integrity, community involvement and fun, the company’s culture has been repeatedly lauded by both its employees and its peers. Trade publications have regularly cited the company’s leaders as being among the best in the business.  Emmis became a public company in 1994. It maintains its worldwide headquarters in Indianapolis, where the company was founded. This annual report contains certain non-GAAP measures. For a presen- tation of the directly comparable GAAP measure and a reconciliation of the non-GAAP measures to the GAAP measures, see the attachment to the back of our Form 10-K in this Annual Report.