As part of its previously announced agreements in principle to sell its St. Louis stations, Emmis Communications announced that it has entered into definitive agreements to sell its St. Louis stations KSHE (94.7 FM) and The Point (KPNT, 105.7 FM) to Hubbard Radio for $45M, and St. Louis stations KFTK (FM News Talk 97.1 FM) and NOW (KNOU, 96.3 FM) to Entercom Communications Corp for $15M. The transactions are subject to FCC approval as well as closing adjustments and prorations. Local Marketing Agreements of the stations will start March 1. The final transactions are expected to close in Emmis' first fiscal quarter. Emmis said net proceeds, after deducting transaction-related costs and estimated tax payments, will be used to repay term loans outstanding.