SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* LKCM Private Discipline Master Fund, SPC (Last) (First) (Middle) PO BOX 309GT UGLAND HOUSE, SOUTH CHURCH STREET (Street) GRAND CAYMAN E9 00000 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 07/09/2010	3. Issuer Name and Ticker or Trading Symbol EMMIS COMMUNICATIONS CORP [ EMMS ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner Officer (give title below) X Other (specify below) See below	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
6.25% Series A Cumulative Convertible Preferred Stock	07/09/2010(2)	07/09/2010	Class A Common Stock	243,961(3)	$20.495	I	See footnote(1)

1. Name and Address of Reporting Person* LKCM Private Discipline Master Fund, SPC (Last) (First) (Middle) PO BOX 309GT UGLAND HOUSE, SOUTH CHURCH STREET (Street) GRAND CAYMAN E9 00000 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) See below

1. Name and Address of Reporting Person* KING LUTHER CAPITAL MANAGEMENT CORP (Last) (First) (Middle) 301 COMMERCE SUITE 1600 (Street) FORT WORTH TX 76102 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) See below

1. Name and Address of Reporting Person* King Luther Jr (Last) (First) (Middle) 301 COMMERCE STREET SUITE 1600 (Street) FORT WORTH TX 76102 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) See below

1. Name and Address of Reporting Person* King John Bryan (Last) (First) (Middle) 301 COMMERCE STREET SUITE 1600 (Street) FORT WORTH TX 76102 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) See below

Explanation of Responses:

1. Represents securities held by LKCM Private Discipline Master Fund, SPC (Master Fund). LKCM Private Discipline Management, L.P. (PD Management) holds all of the management shares of Master Fund. LKCM Alternative Management, LLC (PD Alternative) is the general partner of PD Management. J. Luther King, Jr. and J. Bryan King are controlling members of PD Alternative. Luther King Capital Management Corporation (LKCM) is the investment manager for Master Fund, and J. Luther King, Jr. is a controlling shareholder of LKCM.

2. Not applicable.

3. Master Fund holds 100,000 shares of 6.25% Series A Cumulative Convertible Preferred Stock, which shares are convertible into 243,961 shares of Class A Common Stock as of the date hereof.

Remarks:

On July 9, 2010, Master Fund entered into a lock-up agreement with other holders of the 6.25% Series A Cumulative Convertible Preferred Stock. As a result of the lock-up agreement, Master Fund may be deemed to be a member of a group within the meaning of Rule 13d-5(b) under the Securities Exchange Act of 1934. The filing persons expressly disclaim beneficial ownership of securities of the issuer reported herein or otherwise, except to the extent of their pecuniary interest therein.

	J. Bryan King, for LKCM Private Discipline Master Fund, SPC	07/16/2010
	J. Bryan King, for Luther King Capital Management Corporation	07/16/2010
	J. Luther King, Jr.	07/16/2010
	J. Bryan King	07/16/2010
	** Signature of Reporting Person	Date
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