ENTERCOM COMMUNICATIONS (ETM) Stocks
ABOUT ENTERCOM COMMUNICATIONS
📊 Entercom Communications Corp. is a media and entertainment provider. The company’s portfolio offers awards winning radio stations, live events and digital platforms that reaches more than 170 million people monthly, 90 percent of 12 of the 50 top markets.
📊 Entercom is one of the two largest radio broadcasters in the United States and the top provider of live, local and original audio content and is a sports radio leader.
📊 Entercom Communications Corp. employs approximately 4 500 people and is headquartered in Philadelphia, Pennsylvania.
HISTORY OF ENTERCOM COMMUNICATIONS
- Entercom Communications is founded in 1968 by Joseph M. Filed.
- In 1995 the company buys a classic rock station, KGON, a modern rock station, KMUZ-FM, and an all-sports station, KFXX, for a price of $ 24.5 million.
- In 1999 the company raises $ 236 million with its initial public offering. The same year it buys 43 of Sinclair Broadcast Group’s radio stations for a price of $ 821.5 million – the largest transaction in the company’s history. This expands the company’s portfolio into eight markets. Entercom now has 88 stations in 17 markets, making it the United States’ fifth largest broadcaster.
- The company launches SmartReach Digital, a digital advertising line for businesses.
- In 2014 Lincoln Financial Media is purchased for a price of $ 105 million. It adds 14 stations in Denver, Miami, San Diego and Atlanta to its portfolio.
- In 2017 Entercom and CNS Radio merges. It gains 23 of the top 25 markets, making it the second largest radio station company in the United States.
VISION & VALUES OF ENTERCOM COMMUNICATIONS
- Entercom Communications Corp.’s core principles are to care about its communities, employees, listeners, brands and customers. It delivers great radio content and events, providing positive experiences for everyone. High standards for integrity and performance are followed.
- With Entercom’s 1THING Initiative, it supports several environmental practices to encourage employees, partners and communities to do just 1 thing to help the planet and make a positive difference.
- The company reduces energy and water consumption, recycles, uses environmentally friendly temperature settings and energy-efficient or hybrid vehicles.
- Local communities that benefit from the company’s contributions are Veteran’s Fisher House, Bikers for Babies, Street Turkeys, Reading & Succeeding, SPCA Radiothon and GHS Children’s Hospital.
MARKET PERFORMANCE OF ENTERCOM COMMUNICATIONS
- Entercom Communications Corp. trades on the New York Stock Exchange on the NYSE stock symbol “ETM”.
- Data analysis for the company’s six months ending June 30, 2019 reports total assets of $ 4,124,624 thousand.
- Total operating expenses are $ 594,526 thousand. Net cash provided by (used in) operating activities is $ 58,297 thousand. Cash, cash equivalents and restricted cash at the end of the period are $ 30 331 thousand. Payment of dividend equivalents on vested restricted stock units are $ 1,137 thousand. Dividends on common stock are $ 24,917 thousand.