NextRadio unplugged.

Emmis CEO/Chairman Jeff Smulyan dropped the bombshell last week while reporting its Q2 earnings results when he said, “For the past several months, Emmis and other companies in the radio industry have been working diligently to form a consortium that will own and operate the NextRadio and TagStation businesses … Unfortunately, the consortium has not been formed and these efforts appear to have been unsuccessful. Because Emmis is unwilling and unable to continue to fund the NextRadio and TagStation businesses … We plan to dramatically reduce the operations of these businesses …”