Exhibit 10.2

FIRST AMENDMENT
TO
AMENDED AND RESTATED REGULATIONS
OF
RADIO AUSTIN MANAGEMENT, L.L.C.

     The undersigned members of Radio Austin Management, L.L.C. (hereinafter
referred to as the “Company”) hereby amend the Amended and Restated Regulations
of the Company (the “Regulations”) as follows:

     Section 1. The exact text of Article VI, Section 6.1 of the Regulations now
reads as follows:

     Dissolution. The Company shall be dissolved upon the occurrence of any of
the following:

     (a) The unanimous consent in writing of the Members.

     (b) The winding up and liquidation of the Company.

     (c) The sale of all of the outstanding membership interests of the Company,
unless within ninety (90) days after such event the purchasers owning a
majority-in-interest (within the meaning of Treasury Regulation Section
301.7701-2(b)) give their written consent to continue the business of the
Company on the same terms and conditions provided in these Regulations by
forming a new limited liability company on terms identical to those set forth in
these Regulations.

     Notwithstanding anything to the contrary contained herein, no Member shall
voluntarily withdraw from the Company, except following a transfer of such
Member’s entire interest in the Company in accordance with Section 7.1.

     Section 2. In all other respects, the Regulations shall remain in full
force and effect.

     This First Amendment to the Amended and Restated Regulations is effective
as of August 31, 2003.

              EMMIS OPERATING COMPANY               By:            

--------------------------------------------------------------------------------

    Printed:            

--------------------------------------------------------------------------------

    Its:            

--------------------------------------------------------------------------------

              SINCLAIR TELECABLE, INC               By:            

--------------------------------------------------------------------------------

    Printed:            

--------------------------------------------------------------------------------

    Its:            

--------------------------------------------------------------------------------