Emmis Communications Corp. (EMMS: Quote) announced that Emmis-Terre Haute has signed an agreement to acquire WSDM-FM and WSDX-AM from Crossroads Investments LLC. The parties also signed a Local Programming and Marketing Agreement or LMA that will permit Emmis-Terre Haute to program and sell advertising on the stations beginning September 1, 2012. Financial terms were not disclosed.
The closing of the purchase is subject to several conditions, including approval from the Federal Communications Commission, which is anticipated to take 45-60 days. After the close of the transaction, Emmis will own 21 radio stations in six U.S. markets.
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by RTT Staff Writer
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