Company Quick10K Filing
Entercom Communications
10-K 2019-12-31 Filed 2020-03-02
10-Q 2019-09-30 Filed 2019-11-12
10-Q 2019-06-30 Filed 2019-08-09
10-Q 2019-03-31 Filed 2019-05-03
10-K 2018-12-31 Filed 2019-02-27
10-Q 2018-09-30 Filed 2018-11-08
10-Q 2018-06-30 Filed 2018-08-09
10-Q 2018-03-31 Filed 2018-05-09
10-K 2017-12-31 Filed 2018-03-16
10-Q 2017-09-30 Filed 2017-11-06
10-Q 2017-06-30 Filed 2017-08-04
10-Q 2017-03-31 Filed 2017-05-09
10-K 2016-12-31 Filed 2017-02-28
10-Q 2016-09-30 Filed 2016-11-08
10-Q 2016-06-30 Filed 2016-08-05
10-Q 2016-03-31 Filed 2016-05-06
10-K 2015-12-31 Filed 2016-02-26
10-Q 2015-09-30 Filed 2015-11-06
10-Q 2015-06-30 Filed 2015-08-07
10-Q 2015-03-31 Filed 2015-05-05
10-K 2014-12-31 Filed 2015-03-02
10-Q 2014-09-30 Filed 2014-11-04
10-Q 2014-06-30 Filed 2014-08-06
10-Q 2014-03-31 Filed 2014-05-09
10-K 2013-12-31 Filed 2014-03-03
10-Q 2013-09-30 Filed 2013-11-12
10-Q 2013-06-30 Filed 2013-08-07
10-Q 2013-03-31 Filed 2013-05-09
10-K 2012-12-31 Filed 2013-02-27
10-Q 2012-09-30 Filed 2012-10-31
10-Q 2012-06-30 Filed 2012-08-03
10-Q 2012-03-31 Filed 2012-05-10
10-K 2011-12-31 Filed 2012-02-29
10-Q 2011-09-30 Filed 2011-11-02
10-Q 2011-06-30 Filed 2011-08-09
10-Q 2011-03-31 Filed 2011-05-09
10-K 2010-12-31 Filed 2011-02-09
10-Q 2010-09-30 Filed 2010-11-05
10-Q 2010-06-30 Filed 2010-08-02
10-Q 2010-03-31 Filed 2010-05-07
10-K 2009-12-31 Filed 2010-03-15
8-K 2020-05-05 Amend Bylaw, Shareholder Vote, Exhibits
8-K 2020-04-30 Other Events
8-K 2020-04-20 Enter Agreement, Shareholder Rights, Amend Bylaw, Other Events, Exhibits
8-K 2020-04-03 Enter Agreement, Exit Costs, Officers, Exhibits
8-K 2020-03-25 Off-BS Arrangement, Regulation FD, Exhibits
8-K 2020-03-09 Accountant, Exhibits
8-K 2020-03-02 Officers, Exhibits
8-K 2020-02-25 Earnings, Exhibits
8-K 2020-02-20 Officers
8-K 2019-12-10 Enter Agreement, Off-BS Arrangement, Other Events, Exhibits
8-K 2019-11-08 Earnings, Exhibits
8-K 2019-10-22 Officers, Amend Bylaw, Exhibits
8-K 2019-09-24 Officers
8-K 2019-08-07 Earnings, Exhibits
8-K 2019-05-21 Shareholder Vote
8-K 2019-04-30 Earnings, Exhibits
8-K 2019-04-30 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-04-22 Earnings, Regulation FD
8-K 2019-04-08 Regulation FD
8-K 2019-02-22 Earnings, Exhibits
8-K 2018-12-18 Officers, Code of Ethics, Exhibits
8-K 2018-12-03 Officers, Exhibits
8-K 2018-11-06 Earnings, Exhibits
8-K 2018-10-11 Officers
8-K 2018-09-21 M&A, Exhibits
8-K 2018-08-08 Earnings, Exhibits
8-K 2018-05-16 Shareholder Vote
8-K 2018-05-08 Earnings, Exhibits
8-K 2018-03-08 Earnings, Exhibits

Entercom Communications Financials

ETM Metrics, Comps, Filings

Quarterly | Annual

Business

We are a leading American media and entertainment company, with a cume of 170 million people each month, with coverage of close to 90% of persons 12+ in the top 50 U.S. markets through our premier collection of highly-rated, award-winning radio stations, digital platforms and live events. We are the number one creator of live, original, local audio content and the nation's unrivaled leader in news and sports radio. We are home to seven of the eight most listened to all-news stations in the U.S., as well as more than 40 professional sports teams and dozens of top college programs. As one of the country's two largest radio broadcasters, we offer local and national advertisers integrated marketing solutions across audio, digital and event platforms to deliver the power of local connection on a national scale. We have a nationwide footprint of radio stations including positions in all of the top 16 markets and 22 of the top 25 markets. We were organized in 1968 as a Pennsylvania corporation.

On February 2, 2017, we and our wholly owned subsidiary ("Merger Sub") entered into an Agreement and Plan of Merger (the "CBS Radio Merger Agreement") with CBS Corporation ("CBS") and its wholly-owned subsidiary CBS Radio Inc. ("CBS Radio"). Pursuant to the CBS Radio Merger Agreement, Merger Sub merged with and into CBS Radio with CBS Radio surviving as our wholly-owned subsidiary (the "Merger"). The parties to the Merger believe that the Merger was tax-free to CBS and its shareholders. The Merger was effected through a stock for-stock Reverse Morris Trust transaction.

In connection with the Reverse Morris Trust transaction, CBS commenced an exchange offer for the separation of its radio business to allow for the combination of CBS Radio and Entercom. CBS, certain of its subsidiaries and CBS Radio completed the following distributions and stock split (together referred to as the "Radio Reorganization"). At the time of the signing of the CBS Radio Merger Agreement on February 2, 2017, CBS Radio had two classes of common stock, the Radio Series 1 Common Stock, par value $0.01 per share (the "Radio Series 1 Common Stock"), and the Radio Series 2 Common Stock, par value $0.01 per share (the "Radio Series 2 Common Stock" and, together with the Radio Series 1 Common Stock, the "Radio Existing Common Stock"). As of February 2, 2017, CBS directly owned 100% of the equity of Westinghouse CBS Holding Company, Inc., a Delaware corporation ("Westinghouse"), Westinghouse directly owned 100% of the equity of CBS Broadcasting Inc., a New York corporation ("CBS Broadcasting"), and CBS Broadcasting directly owned 100% of the Radio Existing Common Stock. Prior to the consummation of the Final Distribution (defined below), CBS Broadcasting distributed all of the outstanding equity of CBS Radio to Westinghouse, and Westinghouse distributed all of the outstanding equity of CBS Radio to CBS. These distributions are referred to as the "Internal Distributions."


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Pandora (P) 2,533 33% -9.4 -28% 1,173 607 1,517 503 -332 -255 2,401
Gray Television (GTN) 1,605 0% 14.8 2% 7,104 5,051 1,871 0 173 363 5,379
Central European Media Enterprises (CETV) 1,205 45% 8.6 9% 1,339 805 697 311 126 206 1,765
EW Scripps (SSP) 1,014 0% 18.8 -0% 3,506 2,613 1,348 0 -7 155 2,913
Entercom Communications (ETM) 470 0% -12.0 -8% 4,185 2,818 1,487 0 -320 -180 2,166
Entravision Communications (EVC) 272 0% 37.7 -3% 688 402 285 0 -20 12 464
Townsquare Media (TSQ) 192 0% 13.1 -0% 1,030 681 428 0 -2 52 677
Urban One (UONE) 110 15% 11.1 10% 1,262 1,063 445 67 123 88 972
Beasley Broadcast Group (BBGI) 88 0% 10.2 1% 740 458 189 0 9 32 329
Emmis Communications (EMMS) 59 0% 7.3 2% 260 158 114 0 4 19 135
Salem Media (SALM) 43 0% 36.2 -4% 586 392 189 0 -23 8 293
NTN Buzztime (NTN) 7 0% 29.0 -5% 15 9 15 0 -1 0 6
Saga Communications (SGA) 0 0% -1.5 6% 249 59 124 0 14 20 -31
Akazoo (SONG)
Liberty Media Corporation (BATRA)
Grupo Televisa (TV) 0% 297,171 192,640 0 0 0 0 -1,961
Tencent Music (TME) 0% 44,605 6,833 0 0 0 0 -0
Phoenix New Media (FENG) 0% 4,631 1,240 0 0 0 0 -444
ViacomCBS (VIAC) 0% 2.0 16% 24,476 19,424 15,438 0 3,925 4,615 9,041
Cumulus Media (CMLS) -94.7 -0% 0 0 0 -11 1,004

Balance Sheet ($MM)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash254117796671267163247449915111047595343540270123683045
Accounts Receivable7573695774797160727272617274705974898775919192769092342272303318343270325363
Inventory
PP&E605958565452198514645189444546163454660182575655188646567461347325328460328345356
Assets9189099199139249249169029109079138969099199279319421,0271,0221,0061,0151,0171,0761,0091,0291,0414,5394,4744,5064,5414,0204,1004,1254,185
Accounts Payable8405000100000000000000000012222393
Long-Term Debt6256066025926115875855495465265204934904824824794795054894694664444804654684811,8731,8711,9471,9431,8721,7091,7171,741
Liabilities6886686686616746666516376346246145965996025986026056536336146146066555976126312,7752,7542,7952,8022,6862,7692,7772,818
Stockholders' Equity
Income Statement ($MM)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue1051009580105102102781019810078100100102781011151189612012012397125122247301550379411309381386
Cost of Revenue
Gross Profit
R&D
SG&A666776766666676667788981111919191916211719
Tax-3090-0080175016580559188-1043-2520191621316
Net Income49811-1-387-01071018611-078144111111-964232-14237-38732638
Cash Flow ($MM)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating242419325-6320621-652182017191232224126-756910-9566-315866-746
Cash Investing-2-2-1-26-1-2-1-1-1-1-2-3-331-2-3-83-432-240-27-4-1564-8-271884-22-36
Cash Financing-20-23-1018-2415-21-4-2044-25-3-8-3-2-126-18-21-7-2518-21-12-26-5863-15-194-94