Business briefs

Advertiser Staff and News Services

Emmis lowers expectations

Emmis Communications Corp., which owns 23 radio stations and 15 television stations — including KGMB and KHON in Hawai'i — lowered revenue estimates for the fiscal second quarter, saying the slowing U.S. economy has hurt advertising sales.

Emmis also said it's exploring a taxable spinoff of its television unit. The company had said it wanted to focus more attention on radio.

The Indianapolis-based company built up its stable of TV stations through acquisitions in the past several years. In June, Emmis said it was considering several ways to separate the TV unit from the radio and publishing divisions, including a spinoff, tracking stock or taking the division private.

Nut firm CEO leaving post

ML Macadamia Orchards, the world's largest grower of macadamia nuts, said yesterday it accepted the resignation of Kent T. Lucien as president and chief executive officer. Lucien held that position since September 1995 and will continue to serve on the board of directors.

ML Resources chairman J.W.A. "Doc" Buyers will assume Lucien's duties as CEO and Dennis J. Simonis, formerly executive vice president, was elected president.