Not only did Emmis have a down Q4 (see next story), revenue for the company’s first quarter looks even worse. Emmis’ Q1 includes March, which came in down 5%, April, which was down 14%, and May, which is pacing down 9%. The company blamed the weak revenue numbers on KPWR-FM in Los Angeles and political comps (Emmis took in $850,000 in Political in Q1 of 2016). Excluding those two items, Emmis would still be pacing down in the mid-single digits. Emmis owns clusters in St. Louis, Austin, Indianapolis, three stations in New York City and KPWR in L.A., which is being sold for $83 million.