Entercom Communications Corp. (ETM)

[MrT11]

Sounds like they are doing better.. From June 16th..

RADIO.COM Once Again Fastest Growing Digital Audio Platform in the U.S. In May According to comScore
Digital Audio Platform Grows by Six Million Monthly Unique Users Year-Over-Year, More Than Any Other Player

PHILADELPHIA, PA – June 16, 2020 – Entercom, a leading media and entertainment company and the #1 creator of live, original, local audio content, announced that RADIO.COM grew its U.S. monthly unique users by 6 million versus May 2019, according to comScore, more than any other digital audio platform measured by the service. Once again the fastest growing digital audio platform in the United States in May, delivering a 45% year-over-year (YOY) increase[1], RADIO.COM, is a leading digital audio and content platform that is the exclusive digital home for all Entercom content across its leading portfolio of over 230 stations, along with hundreds of affiliate stations, thousands of top podcasts, live and on-demand video, and premium content across local and national news, entertainment, music and sports in markets all across the U.S., delivered category leading growth in May.

RADIO.COM’s total monthly active users across (MAU) all platforms is now over 40 million, with strong MAU growth also contributing to the platform’s expanding first-party data set and rapidly growing addressable audio impressions across both streaming and podcast.

Other notable highlights include:

COM held the record in engaging listeners by showing 10 straight months of double-digit increases in total listening hours (TLH) [2]– the only Triton-measured publisher to do so
COM also experienced month-to-month growth in May, one of only two digital audio platforms to deliver month-to-month growth during this period[3]
Smart speaker tune-in increased, up 89% YOY[4]
Individual formats also showed YOY growth, with news TLH surging +50% and music increasing 11%
Despite a lack of live sports, the voice of the fan remained dominant, driving double-digit TLH growth across our leading sports talk brands, including Kansas City (+86%), San Diego (+42%) and Boston (+25%), among others.[5]
CONTACT:
Esther-Mireya Tejeda
Entercom
212-649-9686
[e-mail]
@EntercomPR

About Entercom Communications Corp.
Entercom Communications Corp. (NYSE: ETM) is a leading audio and entertainment company engaging over 170 million consumers each month through its iconic broadcast brands, expansive digital platform, premium podcast network and live events and experiences. 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).

[realfast95]

SCHEDULE 13D/A
Joseph M. Field
Aggregate Amount Beneficially Owned By Each Reporting Person
17,694,496

PERCENT OF CLASS REPRESENTED

12.8%

[ClayTrader]

* * $ETM Video Chart 05-21-2020 * *

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

[highstakes]

Is what it is. In at 6
Down to 3 then lower

[cakesgood]

Yeah man you’re picking the wrong time to get out. This is a long term hold. I expect it to get back to $3 range before the end of the year. And then trading back in the $5-$6 range in 2021.

[highstakes]

I got out even. After doubling down twice over the last year. So it will fly high now that im out.

[highstakes]

42179??
What up with that

[realfast95]

Joe buys more
1.2 million shares
FIELD JOSEPH M


5/18/2020 P 423908 A $1.2232
5/19/2020 P 576092 A $1.352
5/20/2020 P 200000 A $1.433

[cakesgood]

Way oversold

[highstakes]

What gives

Finally

[realfast95]

Richard Schmaeling

Yes. So when we think about the full year outlook, our base case model projects that we will be free cash flow positive for the year.

https://seekingalpha.com/article/4347754-entercom-communications-corp-etm-ceo-david-field-on-q1-2020-results-earnings-call-transcript?page=8



Market Cap
160.2M
Shares Outstanding
134.6M

Last Trade
$1.19

[realfast95]

earnings call transcript

https://seekingalpha.com/article/4347754-entercom-communications-corp-etm-ceo-david-field-on-q1-2020-results-earnings-call-transcript

[ClayTrader]

* * $ETM Video Chart 05-14-2020 * *

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

[realfast95]

On March 4, 2020, the U.S. Securities and Exchange Commission (the “SEC”) issued an order (Release No. 34-88318) under Section 36 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), granting exemptions from specified provisions of the Exchange Act and certain rules thereunder. On March 25, 2020, the order was modified and superseded by a new SEC order (Release No. 34-88465) that provides conditional relief to public companies that are unable to timely comply with their filing obligations as a result of the novel coronavirus (“COVID-19”) outbreak (the “SEC Order”).

Entercom Communications Corp. (“Entercom,” “we,” “our” or “us”) is relying on the SEC Order to delay the filing of our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 (the “Quarterly Report”) due to circumstances related to the COVID-19 outbreak. In particular, COVID-19 and related precautionary responses have caused limited access to our facilities and disrupted our normal interactions among our accounting personnel and other staff involved in the completion of our quarterly review and preparation of the Quarterly Report. These restrictions have slowed the completion of our internal quarterly review, including evaluating the various impacts of COVID-19 on our financial statements, and preparing and completing in a timely manner the Quarterly Report.

Although we can provide no assurance, we presently intend to file our Quarterly Report on May 19, 2020, but, in any event, no later than June 25, 2020, which is 45 days from the Quarterly Report’s original filing deadline of May 11, 2020. If the Quarterly Report is filed by June 25, 2020, it will be deemed timely filed by the SEC.

In addition, in light of ongoing developments related to COVID-19, we are supplementing the risk factors previously disclosed under Part I, Item 1A, “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2019 with the following risk factor:

[realfast95]

Entercom Communications to Report 2020 First Quarter Financial Results, Host Conference Call on May 14
1:01 pm ET April 30, 2020 (Dow Jones) Print

Entercom Communications to Report 2020 First Quarter Financial Results, Host Conference Call on May 14

PHILADELPHIA--(BUSINESS WIRE)--April 30, 2020--

Entercom Communications Corp. (NYSE: ETM) will report its 2020 first quarter financial results before the market opens on Thursday, May 14, 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 Thursday, May 14, 2020.

[highstakes]

Report today
Goidluck

[realfast95]

Wells Fargo & Co Trims Entercom Communications $ETM Target Price to $2.00

this morning

they didn't announce when they would give Q1 earnings

[highstakes]

Report today. Maybe it will beat

[highstakes]

Still in this ?? Whats your opinion

[highstakes]

Wow pop

[highstakes]

Whats good here??

[realfast95]

Entercom Communications Adopts Limited Duration Shareholder Rights Plan
8:00 am ET April 21, 2020 (BusinessWire) Print

Entercom Communications Corp. (NYSE: ETM) ("Entercom" or the "Company") announced today that its Board of Directors (the "Board") has adopted a limited duration shareholder rights plan (the "Plan") to protect the long-term interests of its shareholders. The Plan has a one-year duration, expiring April 20, 2021.

The Board adopted the Plan at this time due to the unprecedented impact of the COVID-19 pandemic on equity market valuations which has led to substantial volatility in the trading of the Company's stock and a dislocation in Entercom's share price. The Plan is similar to those adopted by other publicly held companies and is intended to promote the fair and equal treatment of all shareholders and ensure that the Board remains in the best position to uphold its fiduciary duties to the Company and its shareholders. The Plan is designed to allow shareholders to realize the long-term value of their investment by guarding against opportunistic efforts to capitalize on recent macroeconomic conditions, including open market accumulations and other strategies, aimed at gaining control of the Company without paying all shareholders a full control premium for their shares.

The Plan provides for the issuance of one preferred stock purchase right for each share of Class A Common Stock and each share of Class B Common Stock held by shareholders of record on May 5, 2020, exercisable for Series A Preferred Stock and Series B Preferred Stock, respectively. Generally, the rights will become exercisable or exchangeable only if a person or group (with the exception of certain existing holders in certain circumstances) acquires 10% or more of the Company's outstanding Class A Common Stock, or 15% in the case of certain passive investors (including shares synthetically owned pursuant to derivative positions or deemed owned due to specified actions in concert) or announces a tender offer and the consummation of that offer would result in ownership above such percentage-levels. If the rights become exercisable, the rights will entitle its holder to purchase one one-thousandth of a share of the newly-created Series A and Series B Preferred Stock, as applicable, which, in each case, at the Board's election, may be converted into shares of Class A and Class B Common Stock, respectively, of the Company.

The Company intends to engage with shareholders regarding the Plan. If the Board determines it is appropriate to extend the Plan, it intends to submit such an extension to a vote of the shareholders at the 2021 annual meeting of the shareholders.

Further details about the Plan are contained in a Form 8-K filed today by the Company with the U.S. Securities and Exchange

https://entercom.com/press/investors/entercom-communications-adopts-limited-duration-shareholder-rights-plan/Commission.

[realfast95]

ot - competition update

iHeartMedia Inc. IHRT, -6.24%, the biggest operator of radio stations in the U.S., said Tuesday that it has $647 million in cash as of March 31, including a $350 million draw down from its $450 million revolving credit facility. The company has experienced a decline in national, local and network revenue for the year to date, but says that podcasting and digital revenue has grown. Podcast listening reached an all-time high in March, measured by unique visitors and number of downloads, according to a statement from Bob Pittman, iHeartMedia chief executive. The company has seen a sharp decline in sponsorships, a small part of the business according to Pittman, due to event cancellations. And political advertising, which is weighted toward the second half of the year, is expected to be consistent with prior election years. To manage the coronavirus outbreak, company executives have taken a pay cut, a hiring freeze has been put in place, there have been furloughs of "non-essential" workers, a hold on 401(k) matching, and other measures. Savings from these operating expenses is expected to total $200 million in addition to the $50 million savings from modernization efforts announced in February. The company says 90% of its debt matures in 2026 or later. IHeartMedia stock has slumped 57.3% for the year to date while the S&P 500 index SPX, -1.01% is down 14.5% for the period.

[realfast95]

On April 6, 2020, the Board of Directors of Entercom Communications Corp. (the “Company”), upon the recommendation of the Compensation Committee of the Company’s Board of Directors, approved certain changes to the Company’s Non-Employee Director Compensation Policy (“Director Comp Policy”). The Director Comp Policy was modified to include the following:

2020 2Q COVID 19 Addendum. As a result of the COVID-19 Crisis: (A) all cash fees earned by directors during the Second Quarter shall be reduced by 25%; and (B) the Equity Compensation grant, which would occur on May 5, 2020, will not be made and instead will be deferred until such later date as determined by the Board.

The foregoing is a summary description of the material changes to the Director Comp Policy. Reference is made to the complete text of the Director Comp Policy, which is filed as an exhibit to this current report on Form 8-K.

Item 2.05 Costs Associated with Exit or Disposal Activities.

On April 3, 2020, as a part of cost savings initiatives implemented in response to the COVID-19 Crisis, the Company restructured its workforce through termination and furlough actions. The Company expects to incur approximately $5.5 million in severance pay and benefits related to these actions, all of which will be cash expenditures and incurred in fiscal 2020.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Compensatory Arrangements of Certain Officers

On April 6, 2020, each of the Company’s Named Executive Officers (“NEOs”) agreed to voluntarily waive certain compensation. Each NEO agreed to a salary reduction as follows:


David J. Field, President and Chief Executive Officer


30% reduction


Richard J. Schmaeling, EVP and Chief Executive Officer


20% reduction


Louise C. Kramer, Chief Operating Officer


20% reduction


Robert Philips, Chief Revenue Officer & President of EAN


20% reduction


Andrew P. Sutor, EVP and General Counsel


20% reduction


These wage reductions are effective as of April 4, 2020 (the start of the current pay period) and will continue until July 24, 2020, unless increased prior thereto by the Company in its discretion, based on markedly improved business conditions.

These waivers also provided that any increase to an NEO’s base salary due under their agreement from April 4, 2020, through December 31, 2020, will not take effect. In addition, any increase to such NEO’s base salary due on or after January 1, 2021, shall be adjusted such that the increase in the then current year is instead the increase which would have happened in the prior year but for the waiver.

1

These waivers do not modify other rights under the applicable employment agreements or reduce any Company employee benefit provided to such officers and employees.

[realfast95]

For the brave. Need insider purchases. Don't see support.

[highstakes]

Hmm. Double down?

[realfast95]

Mike Francesa and top WFAN hosts asked to take pay cut by Entercom

By Andrew Marchand

April 2, 2020 | 12:54pm

https://nypost.com/2020/04/02/mike-francesa-and-top-wfan-hosts-asked-to-take-pay-cut-by-entercom/

As part of its layoff and furlough plan brought on by the economic downturn caused by the coronavirus pandemic, WFAN’s parent company, Entercom, has asked its top hosts, from Mike Francesa to Boomer Esiason and Gregg Giannotti, to take pay cuts of 20 percent and forgo bonuses through near the end of July, The Post has learned.

Sources said Entercom COO Susan Larkin had a conference call with WFAN staff Thursday morning in which she laid out that contracted employees, like Francesa, Esiason and Giannotti, who make $250,000 or more will be asked to take a 20 percent pay cut.

Those in the $100,000 to $250,000 range will be requested to accept a 15 percent reduction.

Those in the $50,000 to $100,000 range will be asked to take a 10 percent cut.

Entercom CEO David Field said he would be taking a 30 percent cut in a memo first reported by the site Radio & Television Business Report.

Those without contracts will have no choice but to accept the new financial stipulations. Those with contracts could decline or negotiate new terms.

On Thursday afternoon, longtime update man, John Minko, a FAN original from 1987, announced on Francesa’s Radio.com show that he has taken a buyout. Friday will be his final day. The 67-year-old known as the “Mink Man” has been a part of the fabric of the station’s sound throughout its more than three decades.

Esiason, for one, told The Post he will help out Entercom.
see also
Beloved WFAN update man announces he's leaving

“I’m willing to sacrifice for the betterment of everybody,” Esiason told The Post.

Esiason indicated the whole “Morning Show with Boomer & Gio” crew would stay intact and not be impacted by the dismissals.

Besides the furloughs, FAN will have layoffs. Entercom laid off hosts at other stations Thursday, but it is not known if anyone in New York will be a part of them. The reduction that Entercom plans to enact would be in effect, at this point, until July 23.

Entercom declined comment.

In other news, Francesa seemed as if he were attempting to shut down the Twitter account, @BackAftaThis, which is famous for replaying clips of his program. Francesa said that if anyone publishes audio or video from his show they will need express written consent of FAN/Entercom.

Francesa said they would be hearing from the company’s lawyers, if not. Francesa mentioned his viral rant against Donald Trump’s handling of COVID-19 as the impetus for the decision.

[realfast95]

On March 25, 2020, Entercom Communications Corp. (the “Company”) drew $96.5 million under the revolver portion of its credit agreement (the “Credit Facility”). The Company previously drew $50 million on March 18, 2020. The combined borrowings of $146.5 million constitute substantially all remaining amounts available under the revolver.

The amounts borrowed under the revolver will bear interest as provided under the Credit Facility and may be repaid at any time without penalty. Approximately $227.3 million of the revolver will mature on August 19, 2024, and approximately $22.7 million of the revolver will mature on November 17, 2022. The borrowings will be subject to and repayable in accordance with all of the terms and conditions of the Credit Facility.

Upon receipt of the proceeds from the March 25, 2020 draw, the Company had approximately $180 million in cash and cash equivalents on its balance sheet. The amounts drawn under the revolver were borrowed as a precautionary measure to preserve financial flexibility and may be used for working capital, general corporate or other purposes as permitted by the Credit Facility.

Item 7.01 Regulation FD Disclosure.

Q1 2020 Guidance

The Company previously provided first quarter 2020 guidance on its fourth quarter 2019 earnings call on February 25, 2020. Since that time, the COVID-19 global pandemic has significantly disrupted economic activity including the advertising market. As a result, the Company is withdrawing its first quarter 2020 guidance and is unable at this time to determine the full extent of COVID-19’s impact on its business.

The Company is closely monitoring this rapidly evolving situation and is executing a number of cost savings actions that will mitigate the impact of the expected decline in revenue due to the impact of COVID-19. In addition, due to the suspension of the NBA and NHL seasons and the delayed start of the MLB season, the Company will be able to reduce its play-by-play sports rights fee obligations pro-rata based on the number of games canceled under virtually all of its agreements. The Company is suspending its quarterly dividend program starting with the second quarter 2020 dividend.

2020 Annual Meeting of Shareholders

On March 31, 2020, the Company issued a press release announcing its 2020 Annual Meeting of Shareholders will be held as a virtual meeting due to the emerging public health impact of the COVID-19 outbreak, and to support the health and well-being of the Company’s shareholders, employees, directors, associates and vendors. The 2020 Annual Meeting of Shareholders will still be held at 8:30 a.m. Eastern Time on Tuesday, May 5, 2020, but in virtual meeting format only, via live webcast at: https://web.lumiagm.com/290521398 (Password: entercom2020). The full text of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

[realfast95]

Entercom Communications Corp. Announces Change to Virtual Meeting for 2020 Annual Meeting of Shareholders
8:00 am ET March 31, 2020 (BusinessWire) Print

Entercom Communications Corp. (NYSE:ETM) announced today a change of its 2020 Annual Meeting of Shareholders. Due to the emerging public health impact of the coronavirus outbreak (COVID-19), and to support the health and well-being of the Company's shareholders, employees, associates, directors and vendors, the Company has changed the format of its 2020 Annual Meeting of Shareholders from a physical in-person meeting to a virtual meeting.

The 2020 Annual Meeting of Shareholder will be still be held at 8:30 a.m. ET on Tuesday, May 5, 2020, but in virtual meeting format only, via live webcast at:

https://web.lumiagm.com/290521398 Password: entercom2020

[zjohns025]

Gonna get silly in here
Munch munch munch

[realfast95]

Director Selig P 100000 $1.773 on 3/26
Director Creamer P 25000 $1.7485 on 3/26
Chairman Emeritus Field P 10826 $1.60 on 3/24

[realfast95]

Chairman Emeritus
FIELD JOSEPH M

Class A Common Stock, par value $0.01 per share 3/19/2020 P 20000 A $1.80 13891336 I By Spouse and by Trust
Class A Common Stock, par value $0.01 per share 3/20/2020 P 20000 A $1.75 13911336 I By Spouse and by Trust
Class A Common Stock, par value $0.01 per share 3/23/2020 P 29174 A $1.623 (1) 13940510 I By Spouse and by Trust

[realfast95]

Uncharted waters': Philadelphia sports media navigates a world without sports

https://www.bizjournals.com/philadelphia/news/2020/03/18/uncharted-waters-philadelphia-sports-media.html?ana=yahoo&yptr=yahoo

David Yadgaroff, who is Philadelphia market manager for Entercom Communications Corp. (NYSE: ETM), said the company is trying to be a good partner to its advertisers and sponsors. Some have chosen to cut back, others have increased buys and several have changed their packages to adapt to the new reality. Events and remote broadcasts have been cancelled.

When asked about the business impact of the Phillies season being delayed, Yadgaroff demurred and said he was focused on the human side of things and not looking at it from a business perspective. Some of that reticence could be that Entercom and the Phillies have not officially announced a new contract to broadcast games once again on WIP. That, though, appears to be a formality being that Spring Training games were airing on the station until Major League Baseball suspended the season.

“The good thing about radio is that not all of its revenue is built around game coverage,” Fine said. “Sure, it’s going to hurt but it’s just not as big a percentage of their revenue pie.”

Fine said WIP has an advantage over rival 97.5 The Fanatic (WPEN-FM) because the Phillies regular season has not started yet. The Fanatic, the radio home for the Sixers and Flyers, had to adjust more on the fly.

[highstakes]

Report

[ClayTrader]

* * $ETM Video Chart 11-11-19 * *

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

[whytestocks]

News: $ETM Why Entercom Communications Stock Popped Monday

Shares of radio broadcasting company Entercom Communications (NYSE: ETM) jumped on Monday. The stock was up 13.3% as of 11:53 a.m. EST. The stock 's gain adds to a sharp rise on Friday, which followed the company's third-quarter results. Further gains on Monday likely reflect continued opt...

Find out more ETM - Why Entercom Communications Stock Popped Monday

[whytestocks]

News: $ETM Entercom Communications Third Quarter Net Revenues Increase 2%

Adjusted EBITDA Increases 13% and Adjusted Net Income Per Share Increases 23% Entercom Communications Corp. (NYSE: ETM) today reported financial results for the quarter ended September 30, 2019. Third Quarter Highlights Net revenues for the quarter were $386.1 million, u...

Read the whole news ETM - Entercom Communications Third Quarter Net Revenues Increase 2%

[highstakes]

Broke the average

Up? How high

[highstakes]

Nice forming chart
Etm

[highstakes]

And nice again

[highstakes]

Nice

[MomsSpaghetti]

Nice

[highstakes]

Omg

[highstakes]

Nice push before the call on august 7th!!

[highstakes]

Whats good here. Was just suggested to look at this company.
?

[MrT11]

Bought in again today at $5.86 going to soak up the dividend and sell on the pop.

[MrT11]

ETM.. $6.11 too cheap not to buy, hope I'm right, earnings 11-6-18

Time will tell. JMO

[MrT11]

Back in today at $6.75 will buy down to $5
Insiders have bought over $30 million and still buying.
Also pays a divi . Seems cheap to me but what do I know. Lol

[JHeard]

...it feels so good.

[JHeard]

I am in at $7.40