Entercom Q1 Revenues Flat
May 4, 2015 at 7:52 AM (PT)
ENTERCOM COMMUNICATIONS CORP. first-quarter 2015 net revenues were flat year-to-year at $78.4 million (slightly up from $78.235 million), with adjusted net income falling from $1.363 million to a loss of $93,000 (4 to 0 cents/share).
Pres./CEO DAVID FIELD said, “ENTERCOM’s first-quarter revenues were up slightly over the prior year as significant market share gains were offset by sluggish advertising conditions. We are very much looking forward to completing our acquisition of LINCOLN FINANCIAL MEDIA and adding its terrific new markets and brands to our lineup. In the meantime, we are complying with the DEPT. OF JUSTICE’s review of this transaction which would provide us with a second-place position with a 32% pro-forma share of the DENVER radio market.”