Item 9:           Regulation FD Disclosure

     Emmis  Communications  Corporation  ("Emmis")  has  included in this filing
selected  unaudited pro forma financial  information for the year ended February
29, 2000 and for the six months ended August 31, 2000.  This unaudited pro forma
information  includes  the effect of all pending and  consummated  acquisitions,
including (i) radio stations KPNT-FM,  KIHT-FM,  and KFTK-FM (formerly  KXOK-FM)
from Sinclair  Broadcast Group, Inc., (ii) radio station KZLA-FM from Bonneville
International  Corporation,  (iii) radio stations KXPK-FM and KKFR-FM from Clear
Channel   Communications,   Inc.,   (iv)  radio   station   KALC-FM  from  Salem
Communications Corporation, (v) radio stations KKLT-FM, KTAR-AM and KMVP-AM from
Hearst-Argyle  Television,  Inc.,  (vi) a 75%  ownership  interest  in two radio
stations in Buenos Aires, Argentina, (vii) television station WKCF-TV from Press
Communications,  LLC, (viii) eight  network-affiliated  television stations from
Lee  Enterprises,  Inc., and (ix) Los Angeles  Magazine,  Inc., from ABC Holding
Company, Inc.,as if each had occurred at March 1, 1999 and carried forward.

         On  October  16,  2000,  Emmis  filed  an 8-K that  included  unaudited
combined   condensed  pro  forma   financial   statements  for  its  consummated
significant  acquisitions as defined by the Securities and Exchange Commission's
Regulation  S-X,  Rule  3-05.  However,  these  unaudited  pro  forma  financial
statements only required the impact of the consummated significant  acquisitions
to be disclosed.

     With the recent  adoption by the  Securities  and  Exchange  Commission  of
Regulation FD, Emmis is making the pro forma information  listed below available
for broad  dissemination  and expects to provide guidance with respect to future
periods as part of its scheduled  conference call on January 10, 2001 to discuss
the results of the three and nine months ended November 30, 2000.

         The pro forma summary  information  presented  below is not necessarily
indicative of the results that actually would have occurred if the  transactions
indicated above had been consummated at the beginning of the periods  presented,
and is not intended to be a projection of future results.

         Certain  statements  included in this 8-K which are not  statements  of
historical  fact,  including but not limited to those  identified with the words
"expect,"  "will"  or  "look"  are  intended  to  be,  and  are,  identified  as
"forward-looking  statements,"  as defined in the Securities and Exchange Act of
1934, as amended,  and involve known and unknown risks,  uncertainties and other
factors that may cause the actual results,  performance or achievements of Emmis
to be materially  different from any future  result,  performance or achievement
expressed or implied by such  forward-looking  statement.  Such factors include,
among others,  general  economic and business  conditions;  fluctuations  in the
demand for  advertising;  increased  competition in the  broadcasting  industry;
inability to obtain necessary approvals for purchases or sale transactions or to
complete the  transactions;  changes in the costs of  programming;  inability to
grow  through  suitable  acquisitions  and  other  factors  mentioned  in  other
documents filed by Emmis with the Securities and Exchange Commission.


                        Emmis Communications Corporation
               Selected Unaudited Pro Forma Financial Information



                              Three Months     Three Months      Three Months        Three Months    Three Months    Three Months
                                 Ended            Ended             Ended               Ended           Ended           Ended
                              May 31, 1999    August 31, 1999  November 30, 1999   February 29, 2000  May 31, 2000  August 31, 2000
                              -------------   --------------   -----------------   ----------------  -------------  ---------------
Net Revenues:
                                                                                                         
  Radio                            $ 57,741         $ 69,007            $ 70,346           $ 57,065       $ 71,477         $ 75,362
  Television                         57,204           52,512              60,339             51,180         59,630           55,355
  Publishing                         16,783           16,794              19,579             15,287         17,522           19,963
  Interactive                             -                -                   -                  -              -               33
                              -------------   --------------   -----------------   ----------------  -------------  ---------------
    Total net revenues              131,728          138,313             150,264            123,532        148,629          150,713

Operating Expenses:
  Radio                              34,546           34,202              36,415             35,946         39,539           36,172
  Television                         37,091           35,645              38,734             37,716         37,625           35,963
  Publishing                         14,569           14,949              15,127             14,877         15,775           17,256
  Interactive                             -                -                   -                  -            120              148
                              -------------   --------------   -----------------   ----------------  -------------  ---------------
    Total operating expenses         86,206           84,796              90,276             88,539         93,059           89,539

Broadcast/Publishing Cash Flow:
  Radio                              23,195           34,805              33,931             21,119         31,938           39,190
  Television                         20,113           16,867              21,605             13,464         22,005           19,392
  Publishing                          2,214            1,845               4,452                410          1,747            2,707
  Interactive                             -                -                   -                  -           (120)            (115)
                              -------------   --------------   -----------------   ----------------  -------------  ---------------
    Total broadcast/publishing
      cash flow                      45,522           53,517              59,988             34,993         55,570           61,174