As the quarterly reports fall out, it's no longer a matter of whether or not the numbers are negative, it's just how much.  Revenues for Emmis fell 20% to $68.5 million for their fiscal fourth quarter. Radio operations were down 18% from a year ago while publishing fell 26%.  As the result of a $163 million non-cash impairment charge taken in the quarter losses increased to $4.32 per share from a loss of $0.51 per share a year ago. To help defray costs, Emmis cut payroll by $10 million through layoffs and paycuts. Even Emmis European operations, which is generally their bright spot, was down.  As expenses grew 8% in the quarter the revenues were down 8%
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