Entercom Reports Q3 Net Revenue Up 5%. It was rosy third quarter for
Entercom Communications as it reports net revenue was $120.5 million during the period – up 5% from the same period a year ago. Station operating income increased 12% to $37.9 million, and adjusted net income per share increased 8% to $0.27.
Entercom president and CEO
David Field states, "Entercom delivered another solid quarter of organic top-line and bottom-line growth, demonstrating the strength of our great local brands and our outstanding team. We are also very pleased to have just completed a highly successful refinancing that will lower our annual interest expense by more than $10 million and to have announced a terrific, value-creating acquisition of four stations in Charlotte. We are excited by the opportunities ahead as we look to finish the year on a strong note and get off to a great start in 2017." Entercom acquiring news/talk WBT-AM/FM, hot AC WLNK, and sports talk WFNC in Charlotte from Beasley. Currently it is operating WBT-AM/FM and WLNK under an LMA and expects to close on the stations by the first of the year. If the purchase of the stations from Beasley doesn't close by then, it will start operating WFNZ under an LMA, as well.
