Exhibit 31.4

# CERTIFICATION OF
PRINCIPAL FINANCIAL OFFICER

I, Walter Z. Berger, certify that:

|1. |  | I have reviewed this quarterly report on Form 10-Q of Emmis Operating Company;
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|2. |  | Based on my knowledge, this quarterly report does not contain any untrue
                    statement of a material fact or omit to state a material fact necessary to make
                    the statements made, in light of the circumstances under which such statements
                    were made, not misleading with respect to the period covered by this quarterly
                    report;
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|3. |  | Based on my knowledge, the financial statements, and other financial information
                    included in this quarterly report, fairly present in all material respects the
                    financial condition, results of operations and cash flows of the registrant as
                    of, and for, the periods presented in this quarterly report;
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|4. |  | The registrants other certifying officers and I are responsible for
                    establishing and maintaining disclosure controls and procedures (as defined in
                    Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:
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|a) | designed such disclosure controls and procedures to ensure that material
          information relating to the registrant, including its consolidated subsidiaries,
          is made known to us by others within those entities, particularly during the
          period in which this quarterly report is being prepared;
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|b) | evaluated the effectiveness of the registrants disclosure controls and
          procedures as of a date within 90 days prior to the filing date of this
          quarterly report (the Evaluation Date); and
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|c) | presented in this quarterly report our conclusions about the effectiveness of
          the disclosure controls and procedures based on our evaluation as of the
          Evaluation Date;
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|5. |  | The registrants other certifying officers and I have disclosed, based on
                    our most recent evaluation, to the registrants auditors and the audit
                    committee of registrants board of directors (or persons performing the
                    equivalent function):
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|a) | all significant deficiencies in the design or operation of internal controls
          which could adversely affect the registrants ability to record, process,
          summarize and report financial data and have identified for the
          registrants auditors any material weaknesses in internal controls; and
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|b) | any fraud, whether or not material, that involves management or other employees
          who have a significant role in the registrants internal controls; and
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|6. |  | The registrants other certifying officers and I have indicated in this
                    quarterly report whether or not there were significant changes in internal
                    controls or in other factors that could significantly affect internal controls
                    subsequent to the date of our most recent evaluation, including any corrective
                    actions with regard to significant deficiencies and material weaknesses.
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Date: October 15, 2003

| | /s/ WALTER Z. BERGER
Walter Z. Berger
Executive Vice President, Treasurer
and Chief Financial Officer
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