Source: (PHOTO: Chris Davis/Emmis)
INDIANAPOLIS — Emmis Corporation is looking for a buyer for its downtown Indianapolis headquarters.
In a press release Tuesday, CEO Jeff Smulyan says the company has chosen Cushman & Wakefield to market the seven-story building at 40 Monument Circle to potential buyers.
Smulyan recently made public his willingness to sell the building to reach the overall goal of selling off the rest of Emmis’ radio stations and take the company private.
“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. We selected Cushman & Wakefield to help us explore that opportunity. When we relocate, Emmis will remain in Indianapolis. It is our home and will always be our home,” said Smulyan.
Emmis’ Monument Circle headquarters has been home to several businesses over the last two and a half decades, including the Indianapolis radio cluster, Indianapolis Monthly, and Emmis’ variety of digital brands.
WIBC 93.1-FM and Network Indiana continue to operate out of the 40 Monument Circle location. Urban One, who bought Emmis’ Indy radio cluster last year, is a tenant of the building.
The decision to look for a buyer will not immediately affect Urban One or Star Bank, the building’s other tenant.
Interview with CEO Jeff Smulyan below:
