Texas Monthly Owner On Debt Default List

Make your own decision about how much credence to put into this new Moody’s ranking. It looked to me like Emmis Communications had gotten ahead of the game with giant write-offs last year.  Here’s what I know: TxMo president Evan Smith and I did a conference last week for Professor Dave Garlock’s famous class at UT, and exchanging numbers as publishers do, Smith shared the magazine’s profit ratios, which remain solid. So even if parent Emmis is in trouble, TxMo should weather the storm just fine.