Entercom Communications Corp. (ETM)

Entercom Communications Corp., a radio broadcasting company, engages in the acquisition, development, and operation of radio stations in the United States. The company’s stations provide various programming formats, such as news, talk, classic rock, adult contemporary, alternative, oldies, and jazz. As of December 31, 2007, it operated a portfolio of approximately 111 radio stations in 23 markets, including San Francisco, Boston, Seattle, Denver, Sacramento, Portland, Indianapolis, Kansas City, Milwaukee, Austin, Norfolk, Buffalo, New Orleans, Memphis, Providence, Greensboro, Greenville/Spartanburg, Rochester, Madison, Wichita, Wilkes-Barre/Scranton, Springfield, and Gainesville/Ocala. The company was founded in 1968 and is based in Bala Cynwyd, Pennsylvania.

For the nine months ended 30 September 2006, Entercom Communications Corp.'s revenues fell 2% to $321.9M. Net income fell 34% to $41M. Revenues reflect a sluggish advertising environment and lower proceeds from Denver, Milwaukee, Norfolk & Seattle markets. Net income also reflects higher corporate general & administrative expenses, increased interest expense and the absence of gain on investments.