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4-Traders Homepage  >  Equities  >  Nyse  >  Entercom Communications Corp.    ETM

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Entercom Communications Corp. : Entercom Communications Donates Salem, Oregon, Radio Station to MMTC

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12/23/2013 | 03:39pm CET


WASHINGTON, DC-BALA CYNWYD, PA-Entercom Communications Corp. (NYSE: ETM), one of the largest radio broadcasting companies in the United States, today announced that it has donated Salem, Oregon, radio station KWOD (AM) to the Minority Media and Telecommunications Council (MMTC).

MMTC, which was founded to promote diversity in broadcast station ownership, uses donated stations to train minorities and women in broadcast operations, sales, management, and ownership and enables them to purchase the stations at a discount from their market values.  Since MMTC founded its media and telecom brokerage in 1997, it has helped hundreds of interested parties and new entrants with conducting business planning and due diligence and helping new entrants build their professional and financial networks.

"Entercom is a terrific example of a company that truly has the public interest at heart," said MMTC President David Honig. "Thanks to this generous gift to MMTC, we can train more new entrants in broadcast ownership and further our mission of promoting diversity in entrepreneurship."

"We are very excited to be donating this station and providing a new radio entrepreneur with the opportunity to become a great broadcaster and radio station owner," said Entercom President and CEO David Field. "We appreciate the leadership of David Honig and the MMTC staff and all they do to help enable these opportunities and mentor minority broadcasters."

Entercom's gift is an example of the tangible benefits that historically underserved communities can receive thanks to such charitable and philanthropic donations. MMTC welcomes and encourages broadcast station donations to help it further its mission of increasing diversity in ownership within the broadcast industry.

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About MMTC:

The Minority Media and Telecommunications Council (MMTC) is a national nonprofit organization dedicated to promoting and preserving equal opportunity and civil rights in the mass media, telecommunications and broadband industries, and closing the digital divide. MMTC is generally recognized as the nation's leading advocate for minority advancement in communications.

About Entercom:

Entercom Communications Corp. (NYSE: ETM),led by President and CEO David Field, is one of the largest radio broadcasting companies in the United States, with a nationwide portfolio of over 100 stations in 23 markets, including San Francisco, Boston, Seattle, Denver, Portland, Sacramento and Kansas City.

Known for developing unique and highly-successful locally programmed stations, Entercom is home to some of radio's most distinguished brands and compelling personalities. The company also is the radio broadcast partner of the Boston Red Sox, Buffalo Bills, Buffalo Sabres, Kansas City Royals, Memphis Grizzlies, New Orleans Saints, New Orleans Pelicans, Oakland Athletics, Oakland Raiders and San Jose Sharks.

Entercom focuses on creating effective multi-platform marketing solutions for its customers, incorporating the company's audio, digital and experiential assets. Additionally, the company has a long-standing commitment to responsible corporate citizenship and environmental stewardship. Entercom stations play a vital, hands-on role in improving their communities, providing over $100 million in annual support for local charitable organizations.

The company's radio stations have received numerous awards, including multiple Edward R. Murrow Awards for excellence in broadcast journalism as well as the National Association of Broadcasters' (NAB) Marconi Award for excellence in radio broadcasting. In 2012 and again in 2013, Entercom was named one of the top 500 technology innovators in the United States by InformationWeek.



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Financials ($)
Sales 2016 460 M
EBIT 2016 101 M
Net income 2016 32,8 M
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P/E ratio 2016 18,80
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 17,0 $
Spread / Average Target 9,0%
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NameTitle
David J. Field President, Chief Executive Officer & Director
Joseph M. Field Chairman
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