Microsoft Word 10.0.45      UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported):  December 9, 2003

 EMMIS COMMUNICATIONS CORPORATION                  EMMIS OPERATING COMPANY
 (Exact name of registrant as                   (Exact name of registrant as
 specified in its charter)                       specified in its charter)


             INDIANA                                       INDIANA
(State of incorporation or organization)(State of incorporation or organization)

            0-23264                                       333-62172-13
   (Commission file number)                         (Commission file number)

       35-1542018                                       35-2141064
    (I.R.S.  Employer                                (I.R.S.  Employer
   Identification No.)                              Identification No.)

    ONE EMMIS PLAZA                                ONE EMMIS PLAZA
  40 MONUMENT CIRCLE                             40 MONUMENT CIRCLE
      SUITE 700                                      SUITE 700
 INDIANAPOLIS, INDIANA 46204                    INDIANAPOLIS, INDIANA 46204
(Address of principal executive offices)(Address of principal executive offices)
   (317) 266-0100                                   (317) 266-0100
(Registrant's Telephone Number,                (Registrant's Telephone Number,
 Including Area Code)                           Including Area Code)








Item  12.  Results of Operations & Financial Condition.

           On December 9, 2003, the Company's Chief Executive Officer, Jeffrey
           H. Smulyan, and Chief Financial Officer, Walter Z. Berger, addressed
           the UBS 31st Annual Media Week Conference in New York, New York. At
           that conference, Messrs. Smulyan and Berger confirmed that the
           Company would meet its revenue guidance for the fiscal quarter ended
           November 30, 2003. An excerpt of that discussion follows:

MODERATOR: Your guidance in radio was fairly strong. I am assuming that you are
still comfortable with that, but can you give us - I know November was tough,
but people have said December is looking better, which will be your fiscal
fourth quarter. Can you give us some insight into how your top three markets are
doing and then the other markets in, say, December and January?

JEFF SMULYAN: Well, we will stay with our guidance. Obviously, we wouldn't say
that after the quarter has ended unless we felt pretty comfortable that we would
meet it. And we obviously haven't changed it. So I think people will figure that
out. We feel good. It's hard to know, especially, you know, in year end, because
December is a strange month and January comes in late. Certainly, November was a
tough month for everybody in our business, but as I have said, you know, we are
firm in our guidance, so we feel good there. * * *

MODERATOR:  Well, maybe you could talk about...

WALTER BERGER: I want to just modify something that Jeff said. With respect to
the guidance, he was talking specifically with regard to revenue, because,
obviously, we haven't closed our books for the quarter. But to repeat what he
did say, we are giving good, strong confidence about the range that we talked
about for the third quarter for revenue for each of our businesses. If you
really need to take a second to talk about it, I think it's been touched on. I
think it's probably by far at the highest end of the range for the radio sector,
and maybe even for the TV sector, too. * * * The guidance for the radio sector
was between, I believe, 4 and 6%. And TV was a little bit stronger than that . .
.. [after adjusting for the lower levels of political advertising revenue in a
non-political year].






Signatures.

    Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                          EMMIS COMMUNICATIONS CORPORATION

Date:    December 15, 2003   By:  /s/ J.  Scott Enright
                                  ------------------------------------------
                                     J. Scott Enright, Vice President,
                                     Associate General Counsel and Secretary


                                      EMMIS OPERATING COMPANY


Date:    December 15, 2003   By:  /s/ J. Scott Enright
                                  ------------------------------------------
                                     J. Scott Enright, Vice President,
                                     Associate General Counsel and Secretary


G:\Knorther\Corporate\8-K for Dec 9, 2003 UBS Conference.doc