Subsequent Event	6 Months Ended
Aug. 31, 2019
Subsequent Events [Abstract]
Subsequent Event	Note 12. Subsequent Event On June 7, 2019, a subsidiary of Emmis entered into a Purchased Interest Agreement to sell its 50.1% ownership interest in the Austin Partnership to our minority partner, Sinclair Telecable, Inc., for $39.3 million, subject to customary prorations and adjustments. Closing of the transaction occurred on October 1, 2019 and Emmis recognized a gain on sale of approximately $36.8 million. Cash proceeds, net of transaction-related expenses and estimated tax liabilities, were approximately $29.5 million. The Company used a portion of these net proceeds to repay debt outstanding. Approximately $6.5 million was used to satisfy the Company’s mandatory repayment of Mortgage debt. The remaining Mortgage debt of $16.2 million continues to require monthly principal and interest payments over the remaining term. Approximately $3.3 million was used to repay all amounts outstanding under the Term Loan. The Company also terminated the Credit Agreement subsequent to the closing of the Austin transaction. Emmis recorded a loss on debt extinguishment of $0.4 million related to the write-off of unamortized debt discounts related to the retired debt obligations, which will be reflected in the condensed consolidated statements of operations during the three months ended November 30, 2019

Subsequent Event

6 Months Ended

Aug. 31, 2019

Note 12. Subsequent Event

On June 7, 2019, a subsidiary of Emmis entered into a Purchased Interest Agreement to sell its 50.1% ownership interest in the Austin Partnership to our minority partner, Sinclair Telecable, Inc., for $39.3 million, subject to customary prorations and adjustments. Closing of the transaction occurred on October 1, 2019 and Emmis recognized a gain on sale of approximately $36.8 million. Cash proceeds, net of transaction-related expenses and estimated tax liabilities, were approximately $29.5 million. The Company used a portion of these net proceeds to repay debt outstanding. Approximately $6.5 million was used to satisfy the Company’s mandatory repayment of Mortgage debt. The remaining Mortgage debt of $16.2 million continues to require monthly principal and interest payments over the remaining term. Approximately $3.3 million was used to repay all amounts outstanding under the Term Loan. The Company also terminated the Credit Agreement subsequent to the closing of the Austin transaction. Emmis recorded a loss on debt extinguishment of $0.4 million related to the write-off of unamortized debt discounts related to the retired debt obligations, which will be reflected in the condensed consolidated statements of operations during the three months ended November 30, 2019