Fuse Teams With Radio Powerhouse Hot 97 on Yearlong Programming Partnership

Co-Venture Includes Major Hip-Hop Fashion and Music Event in March and Exclusive Media Presentation of the Preeminent Annual Hip-Hop Concert – HOT 97's SUMMER JAM XI

(New York, NY, February 10, 2004) – Fuse and HOT 97 (97.1 FM New York), two of the most influential voices in music broadcasting, are joining forces on a yearlong event production and programming partnership.

Fuse, a property of Rainbow Media Holdings LLC, is the nation's only all-music, viewer-influenced television network, featuring music videos, exclusive artist interviews, live concerts and specials – all rooted in the music experience. Fuse reflects the rapidly changing interests and attitudes of its 12-34 year-old audience by uniting the media platforms that are at the center of its communication and entertainment – TV, online, and interactive games. HOT 97, owned and operated by Indianapolis based EMMIS Communications (NASDAQ: EMMS), is the world's most influential hip-hop radio station. Owning the distinction of being the world's first hip-hop radio station, HOT 97 continues to be the source for information on the hip-hop culture.

The first phase of the multi-faceted partnership will be the FUSE FULL FRONTAL HIP HOP Presented by HOT 97, a major hip-hop fashion and music event, taking place on March 2, 2004 in New York City.

This first-of-its-kind event will unite the mega-stars in urban fashion and music to celebrate the impact of the street savvy styles of leading hip-hop inspired designers like Sean John, Phat Farm, Akademiks and Enyce. The combination fashion show/concert event will be taped for a one-hour special to air on Fuse on March 26. FUSE FULL FRONTAL HIP HOP and other forthcoming co-branded events will be aggressively marketed via affiliate events, street team marketing, print advertising in local media, cross-channel spots and special on-air content and promotions on Fuse and New York's HOT 97 FM.

This summer, Fuse will once again serve as exclusive television sponsor and broadcast partner of HOT 97's annual Summer Jam, the most hotly anticipated hip-hop concert event of the year. Last year's concert, held at Giants Stadium, was the tenth consecutive year the event had sold out. The concert attracted 55,000 fans and included the only New York performance by Eminem, along with hip-hop luminaries 50 Cent, Nas, Busta Rhymes, Sean Paul, Nelly and Lil' Kim.

"Hip-hop is a music and culture that is vitally important to our audience," states Fuse President Marc Juris. "When it comes to hip-hop, HOT 97 is the originator and the single most influential voice in all of urban radio, the station that breaks the artists and sets the play list that the nation and the world then follows. HOT 97 is an immense presence in New York, a force that will greatly expand the awareness and interest in Fuse in the world's capital of not only hip-hop community but media and advertising as well."

"This partnership enables Fuse and HOT 97 to join their media resources to give these events a huge impact from radio to national television," states Mary Corigliano, Fuse's Vice President of Marketing. "It's rewarding to see how our partnership on last year's Summer Jam has grown to create a yearlong venture that will greatly benefit both our companies and music-lovers from coast-to-coast."

"HOT 97 and EMMIS are extremely excited about our growing relationship with Fuse," states Matt Ross, EMMIS New York's VP of Sales and Marketing. "There is no other network that better understands and delivers the experience and excitement of HOT 97's brand to a national audience."

ABOUT FUSE

Fuse, a network of Rainbow Media Holdings LLC, is the nation's only all-music, viewer-influenced television network, featuring music videos, exclusive artist interviews, live concerts and specials — all rooted in the music experience. Fuse reflects the rapidly changing interests and attitudes of its 12-34 year-old audience by uniting the media platforms that are at the center of their communication and entertainment – TV, online, and interactive games – and by incorporating their opinions and suggestions into its on-air and online programming. For more information about Fuse, log on to www.fuse.tv.

ABOUT HOT 97

HOT 97 is owned and operated by EMMIS Communications Corporation (NASDAQ: EMMS), an Indianapolis based, diversified media firm with radio broadcasting, television broadcasting and magazine publishing operations. EMMIS' 18 FM and 3 AM domestic radio stations serve the nation's largest markets of New York, Los Angeles and Chicago as well as Phoenix, St. Louis, Indianapolis and Terre Haute, IN. In addition, EMMIS owns two radio networks, three international radio stations, 16 television stations, award winning regional and specialty magazines, and ancillary businesses in broadcast sales and publishing. EMMIS has announced the acquisition of a majority interest in six radio stations in Austin, Texas. Pending approvals from the Federal Communications Commission and other regulatory agencies, the transaction is expected to close in the company's second fiscal quarter. After the close of the transaction, EMMIS will own 27 radio stations in eight markets.

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