SUBSEQUENT EVENTS

12 Months Ended

Feb. 29, 2016

Subsequent Event [Line Items]

Subsequent Events [Text Block]

SUBSEQUENT EVENTS

On August 21, 2015, the Company received a notification from the Listing Qualifications Department of Nasdaq indicating that the Company's Series A preferred stock was not in compliance with Nasdaq Listing Rule 5450(a)(2) (the “Minimum Market Value Rule”) because the Market Value of Publicly Held Shares (as defined by Nasdaq, "MVPHS") of our Preferred Stock was under $1 million. In accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company had 180 calendar days to regain compliance with the requirements under the Minimum Market Value Rule. On March 17, 2016, Nasdaq filed with the United States Securities and Exchange Commission Form 25-NSE to formally delist from the Nasdaq Global Select Market our Preferred Stock. The delisting occurred on March 28, 2016. Thus, pursuant to Emmis' Articles of Incorporation, each outstanding share of Preferred Stock was automatically converted on April 4, 2016, into our Class A common stock at a ratio of 2.80 shares of Class A common stock for each share of Preferred Stock. Subsequent to the conversion, no shares of Preferred Stock remain outstanding.