Entercom Update: Strong Free Cash Flow, Attractive Valuation [Seeking Alpha]
ENTERCOM COMMUNICATIONS (ETM)
Last entercom communications earnings: 2/25 08:00 am
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US:NYSE Investor Relations:
entercom.com/investors
Company Research
Source: Seeking Alpha
The Second-Largest Radio Business Entercom ( ETM ) was founded in 1968 by Joseph Field with the belief that FM radio, not AM, would one day dominate the airwaves. The company grew through acquisitions and improvements to existing stations and listed its shares in an IPO in 1999. That same year, Entercom acquired 43 stations from Sinclair Broadcast Group and became the fifth-largest radio broadcaster in the country. At the end of November 2017, the company completed its massive merger with CBS’ radio properties (net of a couple divestitures for regulatory clearance) via a Reverse Morris Trust transaction, continuing its growth trajectory. Now, with 112 million monthly listeners across 235 stations, Entercom has assumed the number-two broadcaster spot behind bankrupt competitor, iHeartMedia, Inc. Entercom generates revenue almost entirely through advertising sales on its various radio stations. This is comprised of local radio advertising (the largest portion) and local-stati
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