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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
783005	Emmis Communications Corp	EMMS	Radio Broadcasting Stations (4832)	351542018

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1114634	Amalgamated Gadget Lp	301 Commerce Street Suite 3200 Fort Worth TX 76102	No	No	Yes	No
1167376	Scepter Holdings Inc	301 Commerce Street Suite 3200 Fort Worth TX 76102	No	No	Yes	No
1199406	Geoffrey Raynor	301 Commerce Street Suite 3200 Fort Worth TX 76102	No	No	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Disposition	2010-06-02	20,428	$2.26	480,410	No	4	S	Direct
Common Stock	Disposition	2010-06-03	30,635	$2.27	449,775	No	4	S	Direct
Common Stock	Disposition	2010-06-04	110,340	$2.27	339,435	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct

Footnotes

All shares reported herein as being owned by Amalgamated Gadget, L.P. ("Amalgamated") were acquired by Amalgamated for and on behalf of R2 Investments, LDC ("R2"), pursuant to an Investment Management Agreement. Pursuant to such Agreement, Amalgamated has sole voting and dispositive power of such shares and R2 has no beneficial ownership of such shares. This filing shall not be deemed an admission that Amalgamated is the beneficial owner of such shares for purposes of Section 16 of the Securities Exchange Act of 1934 (the "Act"). Scepter Holdings, Inc. ("Scepter") is the general partner of Amalgamated, which is the holder of the shares reported herein. Geoffrey P. Raynor ("Raynor") is the sole shareholder of Scepter. Pursuant to Rule 16a-1(a)(2)(ii)(B) under the Act, each of Scepter and Raynor is deemed to be the beneficial owner of any shares beneficially owned by Amalgamated only to the extent of the greater of his or its respective direct or indirect interest.