Emmis Announces Partnership with Funkmaster Flex

Funkmaster Flex
Johnny Nunez/WireImage

Funkmaster Flex attends Hot 97 Presents Metro PCS Take Over Tour at Best Buy Theater on March 26, 2014 in New York City.

Radio conglomerate Emmis Communications Corporation has partnered with Flexco, a company and media platform owned by Funkmaster Flex.

With the joint venture, Emmis aims to capitalize on Flexco's assets, including news and culture site InFlexWeTrust.com and DJ Funk Flex mobile app -- not to mention a series of sites for Emmis property Hot 97 personalities Angie Martinez and DJ Enuff, and a digital project for host Ebro Darden -- and build a digital network that appeals to advertisers and a younger audience. Financial terms were not disclosed, but the investment will give Emmis a 40% ownership in Flexco. 

"We're thrilled to invest in Flex's digital assets and work closely with him to continue to innovate in the digital space,” commented Patrick Walsh, CFO, COO and president of Emmis Radio Division, in a statement. “Flex has built a successful mobile and online platform that reaches more than 5 million people monthly."

Earlier this year, Emmis announced a deal with YMF Media to purchase two New York stations, urban adult contemporary station WBLS 107.5 FM and WLIB 1190 AM (and the city's first station targeted at African-American listeners), which was set to double Emmis' annual station operating income, the company had said. Earlier this month, Flex, Martinez, and other Hot 97 personalities joined Emmis CEO Jeff Smuylan to ring the NASDAQ closing bell to celebrate the acquisition.