Good guy of the week

Christmas is coming a little bit early this year for employees of Emmis Communications, as a certain Santa named Jeff Smulyan is passing out a $1000 bonus for all full timers, and $250 bonus for all part-timers, which, he says, is “for their loyalty and dedication.” The money is coming from the recent $85.5 million sale of KXOS in Los Angeles, which also permitted the company to retire over $1.5 million in debt. In the e-mail to all employees announcing the bonuses, Smulyan also said, “Emmis is now a smaller, leaner company that compete with its peers. We have emerged as one of the least leveraged companies in media.”