Entercom Communications Corp. (ETM)

[realfast95]

$AUD starting today $5.18

[realfast95]

Entercom Rebrands, Changes Name to Audacy
March 30 2021 - 09:00AM
Business Wire

New Brand Marks Company’s Transformation into a Scaled Multi-Platform Audio Content and Entertainment Leader

Entercom Communications Corp. (NYSE: ETM) today announced that it is transitioning its brand name to Audacy, effective immediately.

Over the past three years, the company has purposefully evolved into a scaled, multi-platform audio content and entertainment organization with the country’s best radio broadcasting group and a leadership position in virtually every segment of the dynamic and growing audio market—including broadcasting, podcasting, digital, network, live experiences, music, sports and news. Audacy is also the #1 creator of original, premium audio content.

“We have transformed into a fundamentally different and dramatically enhanced organization and so it is time to embrace a new name and brand identity which better reflects who we have become and our vision for the future,” said David Field, Chairman, President and Chief Executive Officer, Audacy. “‘Audacy’ captures our dynamic creativity, outstanding content and innovative spirit as we aspire to build the country’s best audio content and entertainment platform.”

The company’s evolution has been fueled by a number of significant moves, including:

Acquiring CBS Radio, building scale as one of the two largest radio broadcasting groups, with unrivaled leadership in news and sports.
Launching RADIO.COM and building the fastest growing digital audio platform.
Acquiring Cadence13 and Pineapple Street Studios, establishing Audacy as one of the three largest podcasting publishers, with the industry’s most award-winning, critically-acclaimed content and the most shows consistently ranked in the top 100 on Triton’s U.S. Podcast Report.
Becoming the primary companion podcast partner of leading brands including HBO, Netflix, Nike and others.
Enhancing its best-in-class sports platform with the acquisition of QL Gaming Group and a ground-breaking partnership with FanDuel.
Establishing strategic partnerships with Apple, Google, Amazon, Twitch and others, to enable its listeners to connect seamlessly with Audacy audio content wherever and whenever they want it.
Acquiring Podcorn, the #1 podcast influencer marketplace in the country, pairing brands and podcast creators more effectively through an influencer marketplace with self- and full-service options for brands to connect with podcast creators for native advertising.
Creating some of the nation’s best music festivals and exclusive, boutique listening experiences.
Continuously investing in data, analytics and attribution capabilities, enabling advertisers to connect with scale and precision to over 170 million listeners monthly.

“This moment is not just a change of sign, but a sign of change. Our new brand encapsulates who we’ve become in audio and will guide our forward aspirations,” said Paul Suchman, Chief Marketing Officer, Audacy. “We are bringing it to life across all touchpoints inside and outside the organization and look forward to delivering on its promise every day.”

As it begins the next chapter in its journey, Audacy today made a number of additional content and product announcements. These include:

An exclusive podcast partnership with global superstar Demi Lovato, renowned singer, actress, and activist, whose tremendous talent, transparency and honesty has earned her hundreds of millions of devoted fans around the world. Demi will host her first-ever podcast with Cadence13, which will be produced by OBB Sound, the audio division of OBB Media, and SB Projects. More details coming in May.
New original podcasts and other projects that will air exclusively on Audacy’s digital platform including new shows from Boomer Esiason, Big Tigger and “The Rich Eisen Show,” as well as a revamped “Loveline” set to debut this summer. Additionally, a number of original podcasts will launch exclusively in a bingeable window on Audacy’s app.
A partnership with BetMGM, further cementing Audacy’s dominant position in sports betting and entertainment. This follows last week’s announcement of a partnership with Rush Street Interactive.
A partnership with Irving Azoff’s Global Music Rights, which will enable the company to add significantly enhanced on-demand and other interactive features to its digital platform.

Audacy engages over 170 million consumers each month across its connected platform including the Audacy app and website, over 230 radio stations across 47 markets, influential chart-topping podcasts and premium live music experiences.

The company’s ticker symbol will change from ETM to AUD effective on or about Friday, April 9, 2021. Along with the name Entercom, effective today, the company will also sunset the RADIO.COM brand and align its direct-to-consumer platform under Audacy. Cadence13, Pineapple Street Studios, BetQL and Podcorn remain market-facing brands.

No action is required by existing shareholders with respect to the name and ticker symbol change. Certificates representing common shares of Entercom will not need to be exchanged as a result of the name change.

Learn more at www.audacyinc.com or on the Audacy app, and follow Audacy for the latest news and events on Facebook (Audacy Corp) and Twitter (@AudacyCorp).

[realfast95]

Entercom Communications (NYSE:ETM) reported quarterly earnings of $0.17 per share which missed the analyst consensus estimate of $0.20 by 15 percent. This is a 57.5 percent decrease over earnings of $0.40 per share from the same period last year. The company reported quarterly sales of $319.50 million which beat the analyst consensus estimate of $318.82 million by 0.21 percent. This is a 22.85 percent decrease over sales of $414.12 million the same period last year.

[Investorr]

Looking good. I think they got some investor presentations on Tues & Wed. I’m hopeful that now that Blackrock has taken a large position, you will see other funds follow.

[DayTraderOG]

How we looking next week whats everyone thoughts here

[ALERTS100%to10000%GAIN]

ETM~~ Price Target is $7 Entercom Communications : Wells Fargo Upgrades Entercom Communications to Overweight From Equal-Weight; Price Target is $7
01/19/2021 | 07:05am EST
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(MT Newswires) -- (MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 3.5900, Change: +0.24, Percent Change: +7.16

[realfast95]

which drive thru serves crow! dang it

[realfast95]

out for 30 days to clear average down shares

[Liam859]

Love it

[realfast95]

Entercom Acquires Direct-to-Consumer Sports Betting Technology and Analytics Leader QL Gaming Group
1:01 pm ET November 9, 2020 (BusinessWire) Print

--Entercom to Expand Position as the Ultimate Audio Destination for Sports

Today, Entercom Communications Corp. (NYSE: ETM) announced it has closed on the acquisition of sports data and iGaming affiliate platform QL Gaming Group (QLGG) in an all cash deal for approximately $32 million. The acquisition brings unrivaled data, analytics and insight-driven content to Entercom's best-in-class sports broadcast stations, influential podcasts and RADIO.COM, the fastest growing digital audio platform in America.

The QLGG technology portfolio includes sports betting data and analytical capabilities (BetQL), daily fantasy sports (RotoQL), simulation-based sports outcome predictions and game forecasting (AccuScore), and comprehensive analytical coverage of the ATP and WTA Tours (TennisInsight.com), each with respective subscriber base and licensing opportunities.

"As the sports betting marketplace continues to grow exponentially, the acquisition of QL Gaming Group is a perfect fit for our unrivaled sports audio platform," said David Field, Chairman, President and Chief Executive Officer, Entercom. "Integrating QL's analytics and content with our sports brands enables us to deliver unparalleled experiences for sports fans. The acquisition builds on our track record of digital growth and further enhances our direct-to-consumer technology portfolio with data and analytics capabilities, while also adding an innovative new subscription offering to our platform."

Justin Park, Co-Founder and Chief Executive Officer of QLGG, will continue to lead the business reporting to Mike Dee, President of Sports, and J.D. Crowley, Chief Digital Officer. In 2021, under the company's first full year of ownership, QL Gaming Group is expected to generate approximately $12 million in revenue with an EBITDA margin in the high 20s.

"We are thrilled to be joining the leading sports audio platform, bringing our betting insights and expertise to such a loyal and dedicated fan base," said Justin Park, Co-Founder and Chief Executive Officer, QLGG. "Between our capabilities to make bettors better and the influence Entercom's platform provides, we can now offer a wholly unique proposition to the sports enthusiast that is second to none."

Core to the new offering is QLGG's powerful sports betting app, BetQL. The app democratizes sports betting through a proprietary algorithm and advanced analytics, delivering direct-to-consumer data which will now be amplified across Entercom's sports audio portfolio reaching nearly 30 million sports fans monthly. The new subscription-based offering simplifies sports betting, from the novice to professional, and gives consumers access to real-time sports data, news and content across any device, speaker or screen - taking the sports experience to the next level.

[realfast95]

Entercom Communications Reports Third Quarter Results, Revenues Up 53% Sequentially from 2Q to 3Q
Fri November 6, 2020 8:00 AM|Business Wire|About: ETM

PHILADELPHIA--(BUSINESS WIRE)-- Entercom Communications Corp. (ETM) today reported financial results for the quarter ended September 30, 2020.

Third Quarter Summary

Net revenues for the quarter were $268.5 million, up 53% compared to the second quarter of 2020 and down 30% compared to the third quarter of 2019
Net revenues improved each month during the third quarter compared to the prior year: July was down 36%, August was down 32% and September was down 25%
Digital revenues were $47.3 million, up 41% compared to the third quarter of 2019 and were propelled by continued strong audience and revenue growth in podcasting and digital audio advertising
Station expenses for the quarter declined 16% to $228.1 million compared to the prior year and corporate expenses declined 24% to $13.1 million
Operating loss for the quarter was $0.3 million, which included a non-cash impairment charge of $11.8 million, compared to operating income of $79.5 million in the third quarter of 2019
Adjusted EBITDA for the quarter was $31.1 million, compared to $98.0 million in the third quarter of 2019
During the third quarter, the Company used cash on-hand to pay down its outstanding revolver from $243.7 million at June 30th to $77.7 million at September 30th
Liquidity at September 30th was $198 million comprised of $165.6 million of available revolver capacity and $32.4 million of cash on-hand

CEO Comment

David J. Field, President and Chief Executive Officer, stated: “I am pleased to report that Entercom continued to make significant organizational improvements in the third quarter in the face of the deeply challenging pandemic. Third quarter net revenues were up 53% from the second quarter while our continuing work on enhancing our business model yielded an 18% reduction in operating expenses versus the prior year enabling us to rebound to positive Adjusted EBITDA of $31 million. We expect further improvement in both revenues and Adjusted EBITDA in the fourth quarter.

We continue to suffer from the deep impact of the pandemic which has caused many of our advertisers in businesses such as concerts and live events, tourism, gyms, nightclubs, museums, movies, theme parks, public transportation, airlines, restaurants, and others to temporarily cease or significantly curtail their operations and advertising. We look forward to welcoming them back once we emerge from the pandemic.

We continue to build and transform Entercom into a leading multi-platform audio content and entertainment company with scaled audience reach, robust data, analytics and attribution capabilities, and a leadership position in virtually every segment of the dynamic and growing audio market, including broadcasting, podcasting, digital, events, network, music, sports and news. Entercom is strategically well positioned for future performance as our enhanced capabilities enable us to expand our customer relationships and accelerate growth.

As an illustration of the appeal of our evolving capabilities, we recently announced a landmark six-year partnership with FanDuel which we believe is the largest advertising deal in the history of the radio business. This partnership is a powerful testament to the importance of our unrivaled audio sports business which includes most of the country’s leading sports talk stations and personalities with their deep fan engagement.”

Recent Company Developments

Landmark strategic partnership with FanDuel. We announced a six-year partnership designating FanDuel as the official sportsbook partner of Entercom. The agreement, which we believe is the largest advertising deal in radio history, brings FanDuel’s sports betting content, products, and risk and trading expertise to our listeners via integration across our entire sports portfolio.
Station Exchange with Urban One. We announced a broadcast exchange agreement in which we will transfer ownership of our four stations in Charlotte in exchange for Urban One’s WTEM-AM, Washington, DC (Sports); WHHL-FM, St. Louis (Urban/R&B/Hip Hop); and WPHI 103.9 FM, Philadelphia. In addition, in the St. Louis market, we will also acquire the Urban AC format and brand assets of WFUN-FM which we will transition to and use to replace the format on our 96.3 FM signal.
Continuing Robust Slate of Podcast Launches. Our podcast business – including Cadence13 and Pineapple Street Studios – continued to deliver more top-rated hits than virtually any other Podcast network, with six shows in the top-ten on the Apple Podcast charts during the third quarter. Recent launches include hit podcasts with Kevin Durant, Jon Meacham, Charli and Dixie D’Amelio, two of the world’s biggest social media influencers, and new collaborations with HBO, Netflix, Buzzfeed News, Audible and LeBron James’ Springhill Studios.
Credit Agreement Amendment. In July, the Company amended the financial maintenance covenant and other provisions under its Credit Agreement. Among other things, the amendment provides for a covenant testing holiday for the quarters ending September 30, 2020 and December 31, 2020. Testing of the financial maintenance covenant will resume on March 31, 2021 with the Company using fixed amounts for Consolidated EBITDA for the quarters ending June 30, 2020, September 30, 2020 and December 31, 2020. Those amounts represent the amounts reported to the Company’s lenders for the corresponding quarters in 2019.

Earnings Conference Call and Company Information

Entercom will hold a conference call and simultaneous webcast regarding the quarterly earnings release on Friday, November 6, 2020, at 10:00 AM Eastern Time. The public may access the conference call by dialing Toll Free: [phone] and Toll: [phone], passcode: Entercom (domestic and international callers). Participants may also listen to a live webcast of the call by visiting the “Investor Relations” section of Entercom’s website at www.entercom.com. A replay of the conference call will be available for one week by dialing [phone]. A webcast replay of the conference call will be available beginning six hours after the call on the Company’s website for a period of two weeks. Additional information is available on the Company’s website at www.entercom.com.

[realfast95]

Urban One Enters Into Exchange Agreement With Entercom That Will Expand Urban One's Reach Into The General Market In Charlott...
November 05 2020 - 08:02PM
PR Newswire (US)


SILVER SPRING, Md., Nov. 5, 2020 /PRNewswire/ -- Urban One, Inc. (NASDAQ: UONEK; UONE) today announced it had signed a definitive asset exchange agreement with Entercom Communications Corp. (NYSE: ETM) where Urban One will receive Charlotte stations: WLNK-FM (Adult Contemporary); WBT-AM & FM (News Talk Radio); and WFNZ-AM & 102.5 FM Translator (Sports Radio). As part of the transaction, Urban One will transfer three radio stations to Entercom: St. Louis, WHHL-FM (Urban Contemporary); Philadelphia, WPHI-FM (Urban Contemporary); and Washington, DC, WTEM-AM (flagship station of the Washington Football Team); as well as the intellectual property its St. Louis radio station, WFUN-FM (Adult Urban Contemporary). Urban One, Inc. (www.urban1.com), together with its subsidiaries, is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States. The deal is subject to Federal Communications Commission ("FCC") approval and other customary closing conditions. It is expected to close in the first quarter of 2021.

(PRNewsfoto/Urban One, Inc.)

[Cubanwinner]

Well Im happy with this 11% today Im out!

[stocky101]

Call a bunch of two dollar calls today for $.13 which expires on the 20th

[Cat dog]

Money Maker @.80 to .60 then buy just my belief or we possibly trend higher.

[Cubanwinner]

congratulations, nice warm up!

[lukin4winners]

Let's do it.

[lukin4winners]

ETM just $2.38 couple days ago. Lots of upside coming.

https://www.barchart.com/stocks/quotes/ETM/technical-chart?plot=CANDLE&volume=total&data=DO&density=M&pricesOn=1&asPctChange=0&logscale=0&sym=ETM&grid=1&height=500&studyheight=100

[Cubanwinner]

GREEN WEEK AHEAD$$$$$!!!!

[lukin4winners]

I like the CC next friday and access to hear the results. If it's as good as we think we should have big day. Would imagine some price movement upside as we get close to the CC in anticipation.

[Cubanwinner]

Entercom Communications to Report 2020 Third Quarter Financial Results, Host Conference Call on November 6

Source: Business Wire
Entercom Communications Corp. (NYSE: ETM) will report its 2020 third quarter financial results before the market opens on Friday, November 6, 2020. The Company will host a conference call and simultaneous webcast at 10:00 a.m. ET that morning to review the results and recent progress against its strategic initiatives.

To participate in the conference call, please dial [phone] or [phone] five minutes prior to the start of the call and provide the following passcode: Entercom. Participants may also listen to a live webcast of the call by visiting www.entercom.com/investors. Questions will only be taken from participants on the conference call.

A playback of the conference call will be available for one week by dialing [phone] or [phone]. A webcast replay of the conference call will be available on the Company’s website for a period of two weeks beginning 4:00 p.m. ET on Friday, November 6, 2020.

Additional information is available at www.entercom.com.

About Entercom Communications Corp.

Entercom Communications Corp. (NYSE: ETM), home to the nation’s most influential collection of podcasts, digital and broadcast content, and premium live events and experiences, engages over 170 million consumers each month. With presence in every major U.S. market, and accessible on every device, Entercom delivers the industry’s most compelling live and on-demand content and experiences from voices and influencers its communities trust and love. The company’s robust portfolio of assets and integrated solutions offer advertisers today’s most engaged audiences through targeted reach, brand amplification and local activation—all at national scale. Entercom is the unrivaled leader in local radio sports and news and the #1 creator of live, original local audio content in the U.S. Learn more at www.entercom.com, Facebook and Twitter (@Entercom).


View source version on businesswire.com: https://www.businesswire.com/news/home/20201015005061/en/

INVESTOR CONTACT:
Joseph Jaffoni, Jennifer Neuman, Norberto Aja
JCIR
212-835-8500
[e-mail]

MEDIA CONTACT:
David Heim
Entercom
212-649-9676
[e-mail]
@EntercomPR

[Cubanwinner]

Conference call next Friday CEO want to talk about the recent earning that the company achieved.

[lukin4winners]

ETM bullish and way undervalued with the update news agree. Good time to add before it takes off.

[Cubanwinner]

Agree Chart look really Bullish! , This new fusion between ETM and Fandual will be awesome!!!....

[lukin4winners]

Yesterday wasn't a good indication of where ETM is going. The market in general is in a holding position until after the election and ETM is on top of my list. Closed almost at the 50 sma which is $1.52 and above the 200 $1.96 so in great position for a major move to over $2.50 in June.

https://www.barchart.com/stocks/quotes/ETM/technical-chart?plot=CANDLE&volume=total&data=DO&density=M&pricesOn=1&asPctChange=0&logscale=0&sym=ETM&grid=1&height=500&studyheight=100

[Cubanwinner]

Buying!!

[Cubanwinner]

owning 11,000 shares. good things are conming!!!!! expecting a big boommmmm!! next week!!! hold tie until the last minute next trading week. GLTA.

[realfast95]

happy to get my money back. I was down considerably. Could have played it better. I'll wait until after the election to maybe get back in before earnings (they picked a bad day and week for earnings)

[ClayTrader]

* * $ETM Video Chart 10-29-2020 * *

Link to Video - click here to watch the technical chart video

[whytestocks]

Breaking News: $ETM  Entercom and FanDuel Announce Landmark Strategic Partnership

FanDuel Becomes the Official Sportsbook of Entercom, Creating Industry-Leading Sports Audio and Sports Betting Destination Today, Entercom Communications Corp. (NYSE: ETM) and FanDuel announce a six-year partnership designating FanDuel, the leading online sports and ente...

Got this from ETM -  Entercom and FanDuel Announce Landmark Strategic Partnership

[MrT11]

Entercom and FanDuel Announce Landmark Strategic Partnership
October 29 2020 - 12:00PM
Business Wire
Alert
Print
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FanDuel Becomes the Official Sportsbook of Entercom, Creating Industry-Leading Sports Audio and Sports Betting Destination

Today, Entercom Communications Corp. (NYSE: ETM) and FanDuel announce a six-year partnership designating FanDuel, the leading online sports and entertainment company, as the official sportsbook partner of Entercom across its best-in-class sports broadcast stations and RADIO.COM, the fastest growing digital audio platform in America. The partnership brings together America’s #1 Sportsbook with the #1 sports audio company in the United States.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201029005393/en/

This ground-breaking deal unites two industry titans in a shared mission to entertain, engage, and inform sports fans around all aspects of the game and represents a new model between a sports gaming operator and sports media platform. As part of the deal, Entercom listeners will have unique access to FanDuel odds, insight, and promotion via Entercom on-air stations and personalities. Entercom and FanDuel will also collaborate on in-depth integrations and co-produce content that will pioneer the industry with all-new formats.

Under the agreement, FanDuel will be the official sportsbook of Entercom, and receive preferred and increased category access to all Entercom talent in every market where Entercom and FanDuel both operate. The partnership brings FanDuel’s sports betting content, industry-leading products, and risk and trading expertise to the fingertips of Entercom sports fans via a comprehensive integration across the largest sports audio platform in the country.

“Entercom has revolutionized the audio and entertainment industries and we’re beyond excited to be their preferred partner in the sports betting and fantasy categories, said Matthew King, Chief Executive Officer, FanDuel. “In the two years we have been doing business with Entercom, it is abundantly clear to us that their authentic connection to sports fans is one of the best ways for us to engage FanDuel customers. We will work together to offer sports fans access to information wherever, whenever, and however they consume content, providing them with the tools to learn and win.”

“We believe this is the largest advertising commitment ever made within the radio industry. We are focused on delivering the best sports betting experience for our audiences in markets where legalized sports betting will be pervasive,” said David Field, President and Chief Executive Officer, Entercom. “The marketplace is growing exponentially and FanDuel is an ideal partner to take full advantage of the influence and reach of Entercom’s robust sports platforms to deliver an even better, audio sports experience to our listeners.”

Entercom is the unrivaled leader in sports radio, reaching three times more people than the leading competitor. Entercom is the #1 sports radio ownership group, which owns and operates 39 all-sports stations across the U.S., including WFAN 101.9 FM/660 AM (WFAN-FM/AM) in New York, SportsRadio 94WIP (WIP-FM) in Philadelphia and 670 The Score (WSCR-AM) in Chicago. Its unparalleled broadcast portfolio reaches nearly 30 million sports fans monthly and boasts the nation’s leading collection of radio play-by-play coverage. Entercom also serves as the flagship home of 41 professional teams and over 50 Division 1 collegiate programs, including the New York Yankees and Boston Red Sox, Dallas Cowboys and Kansas City Chiefs, Golden State Warriors and Chicago Bulls, and University of Michigan and University of Oregon, among others.

FanDuel was represented in the conversation by AdResults Media.

[realfast95]

Entercom and FanDuel Announce Landmark Strategic Partnership
October 29 2020 - 12:00PM


FanDuel Becomes the Official Sportsbook of Entercom, Creating Industry-Leading Sports Audio and Sports Betting Destination

Today, Entercom Communications Corp. (NYSE: ETM) and FanDuel announce a six-year partnership designating FanDuel, the leading online sports and entertainment company, as the official sportsbook partner of Entercom across its best-in-class sports broadcast stations and RADIO.COM, the fastest growing digital audio platform in America. The partnership brings together America’s #1 Sportsbook with the #1 sports audio company in the United States.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201029005393/en/

This ground-breaking deal unites two industry titans in a shared mission to entertain, engage, and inform sports fans around all aspects of the game and represents a new model between a sports gaming operator and sports media platform. As part of the deal, Entercom listeners will have unique access to FanDuel odds, insight, and promotion via Entercom on-air stations and personalities. Entercom and FanDuel will also collaborate on in-depth integrations and co-produce content that will pioneer the industry with all-new formats.

Under the agreement, FanDuel will be the official sportsbook of Entercom, and receive preferred and increased category access to all Entercom talent in every market where Entercom and FanDuel both operate. The partnership brings FanDuel’s sports betting content, industry-leading products, and risk and trading expertise to the fingertips of Entercom sports fans via a comprehensive integration across the largest sports audio platform in the country.

“Entercom has revolutionized the audio and entertainment industries and we’re beyond excited to be their preferred partner in the sports betting and fantasy categories, said Matthew King, Chief Executive Officer, FanDuel. “In the two years we have been doing business with Entercom, it is abundantly clear to us that their authentic connection to sports fans is one of the best ways for us to engage FanDuel customers. We will work together to offer sports fans access to information wherever, whenever, and however they consume content, providing them with the tools to learn and win.”

“We believe this is the largest advertising commitment ever made within the radio industry. We are focused on delivering the best sports betting experience for our audiences in markets where legalized sports betting will be pervasive,” said David Field, President and Chief Executive Officer, Entercom. “The marketplace is growing exponentially and FanDuel is an ideal partner to take full advantage of the influence and reach of Entercom’s robust sports platforms to deliver an even better, audio sports experience to our listeners.”

Entercom is the unrivaled leader in sports radio, reaching three times more people than the leading competitor. Entercom is the #1 sports radio ownership group, which owns and operates 39 all-sports stations across the U.S., including WFAN 101.9 FM/660 AM (WFAN-FM/AM) in New York, SportsRadio 94WIP (WIP-FM) in Philadelphia and 670 The Score (WSCR-AM) in Chicago. Its unparalleled broadcast portfolio reaches nearly 30 million sports fans monthly and boasts the nation’s leading collection of radio play-by-play coverage. Entercom also serves as the flagship home of 41 professional teams and over 50 Division 1 collegiate programs, including the New York Yankees and Boston Red Sox, Dallas Cowboys and Kansas City Chiefs, Golden State Warriors and Chicago Bulls, and University of Michigan and University of Oregon, among others.

FanDuel was represented in the conversation by AdResults Media.

About Entercom Communications Corp.
Entercom Communications Corp. (NYSE: ETM) is the #1 creator of live, original local audio content in the U.S and the unrivaled leader in local radio sports and news. Home to the nation’s most influential collection of podcasts, digital and broadcast content, and premium live experiences, Entercom engages over 170 million consumers each month. Available on every device in every major U.S. market, the company delivers the industry’s most compelling live and on-demand content and experiences from voices and influencers its communities trust and love. Entercom’s robust portfolio of assets and integrated solutions offer advertisers today’s most engaged audiences through targeted reach, brand amplification and local activation—all at national scale. Learn more at www.entercom.com, Facebook and Twitter (@Entercom).

About FanDuel
FanDuel is part of the FanDuel Group, an innovative sports-tech entertainment company that is changing the way consumers engage with their favorite sports, teams, and leagues. FanDuel is the premier fantasy sports gaming destination in the United States with a presence across 45 states and 8.5 million customers.

[whytestocks]

BREAKING NEWS: $ETM 3 Penny Stocks On The Rise As Broader Markets Drop

Penny Stocks To Watch Amid Stock Market Rout Penny stocks are pretty unique. You can’t ignore the fact that so many end up moving relatively disconnected from the broader markets. While that isn’t the case with all penny stocks , it’s a safe bet that no matt...

Find out more ETM - 3 Penny Stocks On The Rise As Broader Markets Drop

[realfast95]

CEOs Look Beyond Pandemic

Three see some bright linings despite revenue drops and business uncertainty

By Randy J. Stine
Published: October 26, 2020

CEOs from three of the largest U.S. commercial radio groups believe their industry is well positioned to move past the COVID-19 pandemic when the time comes.

Mary Berner, president and CEO of Cumulus Media; David Field, chairman, president and CEO of Entercom Communications; and Bob Pittman, Chairman and CEO of iHeartMedia participated in a group conversation for the recent 2020 Radio Show, which was produced online by the Radio Advertising Bureau and the National Association of Broadcasters.

The business leaders gave their views about the massive business disruption and the challenges and opportunities it has presented.

They described a phenomenon that many Radio World readers have experienced directly: The pandemic has accelerated some aspects of the industry’s technological evolution through forced adoption of work practices that increase efficiency and flexibility.

And their conversation touched on further possible changes as more of the radio air chain moves into the cloud.

The conversation never steered far from the economic environment caused by COVID-19, but the CEOs sought to project a positive attitude.

“Radio has persevered as it always does during times of crisis. This has provided us an opportunity to be stronger and better. The audio industry is in great position to thrive and move ahead faster than when we went into it,” Field said.

In some ways, said Bob Pittman, “We’ve actually strengthened our relationship with the consumer. We have seen this before. Following a disaster or tornado, radio come outs of it with a stronger relationship with the consumer because we are a reliable companion.”
iHeart multiplatform image
An iHeartRadio promotional image highlights the multi-platform nature of its audio offerings.

Cumulus describes itself as “an audio-first media and entertainment company,” and Berner’s choice of words in the conversation echoed that theme.

She says the industry’s ability to serve listeners from “anywhere and everywhere” has made the medium stronger during the crisis. “The audio platform has been extraordinarily resilient. Consumer behavior radically changed during the shutdown but yet audio has remained a vibrant part of the day-to-day lives of our listeners,” she said.

“People weren’t in cars as much, for broadcast radio listening dipped a bit, but that was more than set off by increases in streaming, listening on at-home devices and podcasting. Listening just shifted as opposed to going away.”

As Americans started getting back on the road, Berner said broadcast listening had rebounded to over 90% of pre-pandemic levels.

“The economic uncertainty is probably the biggest challenge the industry is facing. Nobody has a crystal ball. We are not sure what is going to happen. We all have to be very focused on the generation and preservation of cash and building up liquidity and shore up our balance sheets,” she said.

Shedding some insight into their power-player relationship, Berner disclosed that in the early phase of the pandemic, she spoke with Field and Pittman by phone “several times a week” as broadcasters began modeling what-if scenarios for operating in their new normal.

“We came together as an industry — for instance, in working together with Nielsen to determine a fair measurement of listening during this time of so many unknowns,” she said.

“I think we need to keep working together. We are all making decisions very quickly that may have taken months and months to consider. Some of them might have been uncomfortable in the moment, but they will be beneficial to the business in the long run.”

She also noted that “broadcasters won’t need the real estate footprint they thought” once they go back into their physical spaces.

Technological change coming

David Field of Entercom said the company is focused on what it will be when it emerges from the economic malaise of the pandemic.

“There is technological change coming, and the competitive dynamic is evolving. Consumer trends are evolving. Our companies have enormously powerful audio platforms of local and national celebrities, podcasting and digital audio,” he said. “We need to harvest that and become growing vibrant organizations on the other side” of the pandemic.

Accelerating the use of data analytics and attribution is crucial, Field said, to ensure that radio can become a more meaningful part of advertisement spending.

“Radio has often been the kids in the other room trying to get in. We were being held back by several things. One of those reasons has been scale. We didn’t have the scale as organizations in a highly fragmented industry,” Field said.

“Now Bob and Mary and our company can go to advertisers and to play at a much different level. We all have deep podcasting lineups and strong digital audio platforms. Our offering is much more robust and impactful. Now we have the data to go in and demonstrate how radio advertising works.”

Revenue hit

All three companies reported significant fall-off in revenue as a result of the novel coronavirus pandemic during the second quarter of 2020.

For example, for the three months ended June 30, Cumulus reported net revenue of $146 million, a decrease of 48% from a year ago. iHeartMedia Q2 revenue also was down by nearly half.

All three broadcasters were forced to institute cuts that included layoffs, furloughs and pay cuts earlier in the year. In addition, Cumulus and iHeartMedia recently sold off a number of broadcast tower holdings to raise cash.

The roundtable, moderated by Stephanie Ruhle of NBC News, briefly touched on possible policy changes regarding ownership rules and further deregulation of the broadcast industry.

“We are always navigating policy,” Pittman said. “It’s hard for policy to catch up with technology. Today we are still regulated as if all the technology is in one radio station and all that we do is with a transmitter and tower. The idea that we have all of the equipment in one location ignores that fact that the cloud is where everything is going.”

He continued: “If I have the studio in the cloud, then what do we have left in the building? And what regulations are related to that and which ones are not? It’s the inertia of what it was, and we have to change it to what it will be.”

Berner said broadcasters are still “really limited by policy to what we can do with consolidation and other moves we could make to strengthen the industry.”

The Supreme Court recently announced it would hear an appeal by the FCC and NAB seeking to reinstate several updates to the broadcast ownership rules. In November 2018 the commission decided to abolish the newspaper-broadcast and radio-TV cross-ownership rules and rework the radio AM-FM subcap regulations. However, those changes were blocked when the Third Circuit Court of Appeals concluded that the commission had not thoroughly analyzed the potential effect of the changes on female and minority ownership of stations.

Field said ownership rule changes would help ensure the long-term survival of the industry.

“The ownership rules around radio continue to be reflective from a different era from a competitive standpoint. We must preserve the sanctity of the AM/FM band.”

The panel chafed a bit when asked if innovations have been derailed because of the pandemic.

“I don’t think we stopped (innovating),” Berner said. “In fact, in some ways we have accelerated our adoption of new technologies and work scenarios. We want to be where the listeners are. We need to deliver great audio content wherever and whenever it’s needed. We have doubled down on smart speakers and invested in our podcast platforms.”

[Related: “How Will iHeart’s Centers of Excellence Strategy Play Out?”]

iHeartMedia is leveraging its stations to promote its iHeartPodcast Network, typically one of the top podcast publishers in the United States each month. In fact, the network had the most downloads and streams in September as measured by Podtrac.

“Nothing has the growth rate of podcasting,” Pittman said. “Our podcasting revenue grew 100% in the second quarter of this year (from 2019). Our usage is up 35% to 40% in that same quarter.

“It’s no secret that radio is having success with podcasting because it is very much a radio experience. It’s a host chatting about something,” he said.

“And the silver lining right now to this terrible situation we are in is that we have an opportunity to get people to try our new products like podcasting.”

The state of the economy is the ultimate challenge, Berner concluded.

“While better, it’s certainly not to the level pre-pandemic. We have a long road ahead of us, but fundamentally I think we are well positioned.”

And Field added a bright note, saying the pandemic disruption for now has lessened. “We have seen a substantial amount of pickup in demand for advertising into the fall. I’m optimistic we are climbing out of this.”

https://www.radioworld.com/news-and-business/business-and-law/ceos-look-beyond-pandemic

[Maritimus]

Where is everybody ?

[realfast95]

CEO buys more Acquired 1,929 of Class A Common Stock at price $1.46

[realfast95]

$353,185.45 of shares acquired by Field David J (Chairman, President and CEO),

96754.0 A $1.4513 (1) 1329878.0 D
Class A Common Stock, par value $0.01 per share 9/21/2020 P 93131.0 A $1.4296 (2) 1423009.0 D
Class A Common Stock, par value $0.01 per share 9/22/2020 P 58186 A $1.367 (3) 1481195

[realfast95]

Chief Rev. Officer

insider purchase open market

37,037 shares of $ETM for a total cost of $50,288.84

$1.3578

[realfast95]

looks like they terminated some local staffs and are replacing them with national teams, in country and alternative formats

[realfast95]

Entercom Announces Country, Alternative Teams
By
Radio Ink -
September 15, 2020
0

Following last weeks announcement that the company would be taking a national approach to the Country and Alternative formats, Entercom has made public the teams that will execute that new plan. Tim Roberts will lead the Country format and Mike Kaplan will head the Alternative brand.

[realfast95]

CEO reports buying more shares
And the market makers screw with the price all day today. A-holes
They dropped the PPS -.16 today closing at 1.47
up after hours .12


8/17/2020 P 8300 A $1.65
8/18/2020 P 43698.0 A $1.6661
8/19/2020 P 25927 A $1.6171

[MrT11]

ETM at $1.71 has a market cap of $221 Million. From the CC,

As you know, Sirius XM recently announced the acquisition of Stitcher and Midroll scripts podcast e-business for $325 million.

We noted that with interest as our own podcasting business is roughly equivalent in size and have a very similar makeup to Stitcher and Midroll. As you know, we acquired that business in two separate deals for Cadence 13 and Pineapple Street Studios were just under $50 million less than a year ago. Because podcasting is such a new component of our business, we believe investors will overlook that substantial strategic enhancement in value creation.

This means just ETM's podcasting business is worth $325 million.
I'm holding as I think this goes higher. JMO

[realfast95]

TARGET 1
Price: 1.91 Profit: 3.8% (Typical rally)
Stop/Trailing Stop: 1.66 Loss: 9.8%
P/L Ratio: 0.4 : 1 - Poor
POTENTIAL
Excellent, there are 1 resistance areas on the way to Target 1.
When there are few resistance areas, stocks may quickly rise to targets.
TARGET 1 RESISTANCE
Current price at resistance: 1.77 ± 0.099 type double,
strength 9
+3.8% at 1.91 is Target 1
TARGET 2
Price: 2.06

[realfast95]

CEO FIELD DAVID J

Acquired 122,075 of Class A Common Stock at average price $1.6 between 2020-08-10 and 2020-08-12, increased holding by 12% to 1,155,199 shares

[realfast95]

Adjusted net loss per diluted share for the quarter was $0.28
estimate -.22

Revenue 188.9
est 204.32M

[realfast95]

learning from IHRT

- Rate of YoY revenue decline has improved in each month since the

April low-point: April (50)%, May (49)%, June (41)% and July (27)%

[realfast95]

Entercom Communications: Easy Listening
Jul. 20, 2020 4:48 PM ET|

https://seekingalpha.com/article/4359467-entercom-communications-easy-listening?utm_campaign=twitter_automated&utm_content=article&utm_medium=social&utm_source=twitter_automated


Summary

Things were bad but look like they are slowly getting better.

COVID-19 forced cost cuts but those cuts will carry forward after COVID-19.

ETM is the second-largest producer of podcasts.

Financial metrics should improve throughout the remainder of the year.

Looking for more stock ideas like this one? Get them exclusively at Turnaround Stock Advisory. Get started today »

Entercom Communications (ETM) is one of the largest radio broadcasting companies in the country. Yes, radio is still alive and well with podcasts, sports coverage, and local news outlets besides other things.

And here's what ETM does:

Radio Broadcasting Stations
Advertising
Arts
Entertainment and Recreation
Podcasting

Things were going extremely well before COVID-19 but dropped off rapidly beginning in March.

In January and February, sales were up 7% year over year but dropped 22% in March. April was even worse as local businesses and professional sports dropped advertising. However, according to management, things are picking up.

Here are 5 reasons to buy ETM now.
1. Things Were Bad But Look Like They Are Slowly Getting Better

CEO David Field:

Current business conditions have sought a bit after the tsunami of closures and cancellations that occurred in March and the first half of April. While there are no guarantees on the trajectory of our national recovery in these unprecedented times, April certainly appears to be the bottom. May is a little better than April, and June is trending somewhat better than May.

Sounds like down big but on the way back. It would make sense as businesses and people frequenting those businesses get back to normal, so would ETM revenues.

As might be expected, news radio flourished with the constant drumbeat of COVID-19 news both good and bad. This is shown by huge increases in listeners recently.

Entercom is the nation's leader in local radio news and I am particularly proud of the great work our local news teams are doing across the country. Ratings were up significantly, including a 56% increase among adults 25-54 at KNX in Los Angeles, 63% at WBBM in Chicago and 100% at 1010 WINS in New York.

That shows the power of radio during crises.
2. COVID-19 Forced Cost Cuts That Will Carry Forward After COVID-19

Operating expenses were cut by $80 million in the second quarter and ETM expects $150 million for the year.

Richard Schmaeling - Chief Financial Officer:

Adding it all up, and looking specifically at the second quarter, we expect that our cash operating expenses fixed plus variable will be down year-over-year by over $80 million.

We executed a series of actions expected to reduce our fixed expenses by approximately $150 million over the remainder of this year

3. ETM Is The Second Largest Producer Of Podcasts

Podcasts are becoming the key ingredient in successful digital communications and ETM is one of the biggest and most successful. They actually create a lot of their own content rather than just buying material from other producers.

CEO David Field:

In addition, we are one of the two largest commercial podcast publishers in the U.S., with a rapidly growing business, competing at scale that has grown to 28 million monthly unique listeners worldwide and more than 150 million podcast downloads per month. We focus on premium high-quality content offerings and have distinguished ourselves by the large number of high-quality hits in our portfolio.

This is a valuable and rapidly growing part of digital broadcasting which grew at 44% in Q2 in spite of COVID-19.
4. Financial Metrics Should Improve Throughout The Remainder Of The Year

If April was indeed the low point of the year, then future results should rebound convincingly. We already know that professional baseball and football will be coming back, and I would think college football too.

Then, think of all the businesses starting up again and their need to build revenue back up. Advertising will certainly be one of the prime ways to achieve that goal.

In addition, the time between now and November should be full of political advertising adding about $20 million to revenues in the next few months.

Richard Schmaeling - Chief Financial Officer:

Previously, we stated that we expected our political revenues would be up year-over-year by over $20 million, and we expect about 60% of this revenue will run between September and Election Day.

And, it is expected FCF (Free Cash Flow) should be positive for the year in spite of the pandemic.

And, importantly, 98% of ETM debt is due beyond November 2024, and leverage is well below problem levels giving them more than enough time to recover.

As a result of these transactions, 98% of our debt matures in November of 2024 or later and our first lien leverage at the end of the first quarter was 2.5 times compared to our covenant of four times calculated in accordance with the requirements of our credit agreement. "

5. The Stock Price Has Dropped By More Than 60% In The Last 6 Months

ETM took the full-brunt of the pandemic reaction with thousands of their customers forced to cut back on advertising to help offset their customers' huge losses in revenue and traffic. Now is the time to start building that traffic back up and that should benefit ETM meaningfully over the next 6-12 months. And I fully expect ETM's stock price to reflect that over the same time period.

Conclusion

ETM has done an admirable job dealing with the business problems associated with the pandemic. Cutting expenses, expanding quality podcast material, working with customers even though they may have temporarily cut back, or even stopped buying from ETM, have all enhanced ETM's probability of recovering in full. ETM is a strong buy with a price target of $3 by the end of 2020 and $5 by the end of 2021.

ETM is a buy because it remains a viable, solid company that has dropped too far, too fast. I think they will 'Turnaround' and succeed over the next 6-18 months.

ETM is a buy under $1.50
Risks, Alarm Bells, And Red Flags

One problem with any media-related business is constantly evolving competition from a variety of media sources. It can change in a moment and new sources are constantly being invented.

In a volatile environment like we are facing now, cash is always a viable alternative.

In addition, there could be a recession coming or even a depression according to several economists. That may make profits elusive at best and provide losses at worst.

"Economic data in the near future will be not just bad, but unrecognizable," Credit Suisse economists led by James Sweeney wrote last week. "Anomalies will be ubiquitous and old statistical relationships within economic data or between market and macro data might not always hold... There is no blueprint for the current shock, and uncertainty about the extent of contagion and the economic consequences is overwhelming."

[realfast95]

inside credit agreement

"We are pleased to announce this credit facility amendment, which addresses the significant impact that COVID-19 has had on the economy and our advertising revenues," said David J. Field, Chairman, President and Chief Executive Officer, Entercom. "As previously announced, we have taken a number of actions to reduce costs and enhance our business model to both weather the storm and emerge stronger. We ended the second quarter in a strong liquidity position with $208 million of cash on-hand, up from $189 million at the end of March. During the 2nd quarter, we saw sequential month over month improvement in our revenue performance from April and we see the same pattern of month over month improvement in our pacing data for the 3rd quarter. Entercom is well positioned to fully participate in the recovery and the attractive growth opportunities in the audio space, with strong leadership positions in broadcast radio and podcasting, the fastest growing digital audio platform, unparalleled leadership in news and sports, and strong data and analytics capabilities. We will provide further comments on our performance and the outlook for the 3rd quarter during our 2nd quarter earnings call on August 7th."

[realfast95]

apparently podcasting is all the rage
Michelle O, signed a deal with Spotify
SIRI bought a company to help it with podcast


Twitch Inks Deal to Livestream Entercom’s Sports Radio Talk Shows as Video Simulcasts (EXCLUSIVE)

https://variety.com/2020/digital/news/twitch-entercom-sports-radio-talk-video-1234708114/

Sports radio talk shows, long a staple of AM/FM dials, are coming to Twitch — in the form of live, interactive video broadcasts.

In the first deal of its kind, Amazon-owned Twitch will distribute video simulcasts of top sports talk programs from radio broadcaster and audio streamer Entercom Communications.

Under the agreement, Twitch initially will livestream Entercom’s Radio.com Sports stations from six markets across the U.S. on dedicated branded station channels: Boston’s WEEI, New York’s WFAN 101.9 FM/660 AM, Dallas’ 105.3 The Fan, Chicago’s 670 The Score, Atlanta’s 92.9 The Game and Detroit’s 97.1 The Ticket.

Of course, right now, the sports industry overall is suffering because of COVID-19 shutdowns. In April, Entercom told investors it expects to see continued revenue decline for sports stations as the result of the suspension of the NHL and NBA seasons and the delay of Major League Baseball’s 2020 season. That will be largely offset by the pro-rata reduction of Entercom’s play-by-play sports rights fees.

[realfast95]

Subscription site, can only see heading

https://www.bizjournals.com/philadelphia/news/2020/06/24/entercom-restores-full-salaries-for-employees.html

By Jeff Blumenthal – Reporter, Philadelphia Business Journal
Jun 24, 2020, 1:54pm EDT

Field said returning to normal salary levels reflects how the company views potential growth opportunities moving forward.