Item 1.02 Termination of a Material Definitive Agreement.

On November 25, 2019, MediaCo Holding Inc. (the "Company") entered into an Employee Leasing Agreement by and between Emmis Operating Company ("EOC") and the Company (the "Employee Leasing Agreement"). Pursuant to the Employee Leasing Agreement, the Company leased from EOC personnel at radio stations WBLS-FM and WQHT-FM (the "Radio Stations) to perform services for the Company consistent with each leased employees' past practices at the Radio Stations. Effective January 1, 2021, the Employee Leasing Agreement was terminated, and the Company hired all of the leased employees and assumed the employment and collective bargaining agreements related to leased employees. EOC serves as the manager of the Radio Stations and of the Company's financial reporting, SEC compliance and similar obligations as a public company pursuant to a certain Management Agreement between the Company and EOC dated as of November 25, 2019. The Management Agreement remains in full force and effect. The Employee Leasing Agreement was terminated at the expiration of the initial term, so no early termination penalties were incurred.

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