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The Emmis third quarter includes September, October, and November which includes political comps from 2012. Emmis was up 4 percent in September, down 5 1/2 percent in October, and down 2 percent in November. Minus political Emmis would have been up 4% for the quarter. Emmis CEO Jeff Smulyan says pacing for the 4th quarter is up in the mid-single digits, adding, "that's encouraging."
CFO Pat Walsh said Indianapolis, L.A., Austin, and St. Louis grew market share. National revenue was down 13 percent, local was up 2 percent, and digital increased 16 percent.
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