Emmis to Sell Four TV Stations for $259 Million

Broadcaster Emmis Communications Corp. of Indianapolis agreed to sell four television stations for $259 million and said it would invest $100 million in its chief executive’s bid for the Washington Nationals baseball team.

Buyout firm Blackstone Group and SJL Broadcast Group will acquire Emmis’ stations in Portland, Ore.; Honolulu; and Wichita and Topeka, Kan., Emmis said.