Entercom Reports Q4 and Full Year Revenue Results
February 11, 2014

Entercom Communications has released its financial results for 2013, as well as for the fourth quarter of the year, showing a slight decrease in net revenue. As for the full year, net revenues decreased 3 percent to $377.6 million. Station expenses decreased slightly to $251.8 million, while station operating income decreased 8 percent to $125.8 million, Entercom reported.

When looking at the fourth quarter ended December 31, 2013, net revenues for the quarter decreased 2 percent to $99.6 million. Station expenses decreased 1 percent to $61.3 million, while station operating income decreased 5 percent to $38.3 million. In December, the company re-priced its $300 million Term B loan and reduced the borrowing rate by 1 percent, generating savings of approximately $3 million per year. Entercom also reduced its outstanding debt by $14.2 million (net of cash) during the quarter. As of December 31, the company had $12.2 million in cash and $517.1 million of senior debt and senior notes.

Entercom President and CEO David J. Field stated: "Entercom's fourth quarter revenues declined 2 percent while revenues excluding political advertising posted a 2 percent increase. 2014 began on a solid note with January revenues up moderately over the prior year. We are optimistic about 2014 performance based on improving sales capabilities and execution, strong ratings and meaningful local growth opportunities."




 
Breaking News
Journal Communications Reports Third Quarter 2014 Results
Irving Azoff Leading New Music Rights Venture
Crush Music Announces Two New Hires
In Brief - October 30, 2014
October 29, 2014
Def Jam Recordings Promotes Scott Maness To VP/Rhythm Crossover Promotion
Melissa Etheridge, Ingrid Michaelson To Perform At National Radio Hall of Fame Induction Ceremony
In Brief - October 29, 2014
October 28, 2014
iHeartMedia, Inc. Reports Results For 2014 Third Quarter
SiriusXM Reports Third Quarter 2014 Results
Talus Knight Named PD/Afternoon Host At KKND
iHeartMedia San Francisco Names John Leathers Vice President Of Sales
Radio Advertising Bureau Board of Directors Elects New Officers & Directors
Pandora Hires Chris Phillips As Chief Product Officer
CBS Radio's We Can Survive Achieves High Marks On Social Media
iHeartRadio Survey: Listeners Predict We’ll See A Lot Of Lady Gaga Impersonators
In Brief - October 28, 2014
October 27, 2014
Lulu & Lala Spice Up Afternoons On WFLC-FM
Universal Music Group Names Michael Frey, President, Supply Chain & Media Services
Benztown Releases First-Ever Benztown 50 Voice Power Index
Noise Fusion Unleashes Next Generation Sounds Online
In Brief - October 27, 2014
October 25, 2014
eQB NOW
The Week In Review: 10/20-10/24
Beasley Broadcast Group Issues Third Quarter Results
Pandora Reports Q3 2014 Financial Results
Deezer Acquires Stitcher
Music News
Pitbull & Enrique Iglesias Continue The Party
Quick Hits: K. Michelle, Billboard Touring Awards, George Ezra, Phish
Slipknot Land Second #1 Album With .5: The Gray Chapter
Quick Hits: Metallica, Coldplay, Pitbull, Nile Rodgers
Taylor Swift Sings From The Rooftops
Quick Hits: Nicki Minaj, David Guetta, Calvin Harris, Soundgarden, R.E.M., The Who's Teenage Cancer Trust
Fergie, Lorde Join AMA Performers
Eric Clapton Offers Tribute to Jack Bruce
New Imagine Dragons Song Featured In Sprite LeBron James Commercial
Quick Hits: Imagine Dragons, Taylor Swift, Rock In Rio USA, Band of Merrymakers, Prince, Beady Eye
Taylor Swift Talks Pop Genre, 1989 & More
The Week In Review: 10/20-10/24
Quick Hits: The Grammys, Sam Smith, Foo Fighters, The Grateful Dead
Taylor Swift Reveals Songs of 1989
One Direction Goes "On The Road Again"
FMQB NOW

Christopher K
APD/MD, KDND & KUDL
Sacramento

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!