Entercom cuts

[PTBoardOp94]

When that happened, circumstances at those stations would change. At the time, Entercom was among the strongest radio companies in the industry.

Arguably CBS Radio and Entercom were the only two strong nationwide players, from a financial perspective. Cumulus and iHeart were both about to file bankruptcy.

The next tier of companies by licenses controlled would include Salem, Univision, Townsquare, Beasley, Urban One and Cox. Calling Cox or Beasley a nationwide player seems like a stretch to me. And Salem, Univision, Urban One and Townsquare have niches that do not include the mass-appeal, major-market stations that CBS was selling.

 

[TheBigA]

Arguably CBS Radio and Entercom were the only two strong nationwide players, from a financial perspective.

And if you look at CBS Radio as a separate company within CBS, it was losing money at the time.

 

[Kent]

Calling Cox or Beasley a nationwide player seems like a stretch to me.

Cox may not be a major national player, but I doubt the private equity firm that bought the company did so to just stand pat. The trades have widely reported the new Cox is chasing TEGNA.

Granted, it seems far-fetched at the moment, but, if Entercom had enough angry activist shareholders, the new Cox would seem like a logical suitor if it ends up getting TEGNA.

For now, Cox seems mostly interested in growing its TV portfolio, but it likely bought the radio division with the idea of operating TV and radio clusters wherever it could.

 

[PTBoardOp94]

Cox may not be a major national player, but I doubt the private equity firm that bought the company did so to just stand pat. The trades have widely reported the new Cox is chasing TEGNA.

Apollo has abandoned that bid, at least for now, because of the market turmoil related to COVID-19.

 

[bostonradio]

Well Reid was still there today.
Maybe pre recorded ?

He was also doing a weekly national version. So it's likely what you heard. Let's see what happens next Sunday.

 

[bostonradio]

Farewell TJ.

A decent DJ and his team who should be hired elsewhere when the crisis has passed.

They moved their night guy JD Whitfield to mornings and paired him up with Matt Shearer who produced TJ Morning Show

 

[freqlost]

They moved their night guy JD Whitfield to mornings and paired him up with Matt Shearer who produced TJ Morning Show

From separate rooms of course.

Listened for a few minutes.

Will JD still be doing his night show too ?

 

[bostonradio]

From separate rooms of course.

Listened for a few minutes.

Will JD still be doing his night show too ?

No, he's done with nights. He actually covered midday til 1 today because their regular midday host is out on maternity. Afternoon drive person Vanessa Hale is now on 1 to 7pm.

Kiss made a big switch last week. They moved Ryan Seacrest to nights. Romeo is now doing middays and Mikey V is on 2-6 and 7-8. Matty's Best of is 6-7pm.
Matty is is 5-10am(I believe first hour is best-of's). Romeo is now doing afternoons at the Beat and KJ midday(9am-2pm).

 

[freqlost]

No, he's done with nights. He actually covered midday til 1 today because their regular midday host is out on maternity. Afternoon drive person Vanessa Hale is now on 1 to 7pm.

Kiss made a big switch last week. They moved Ryan Seacrest to nights. Romeo is now doing middays and Mikey V is on 2-6 and 7-8. Matty's Best of is 6-7pm.
Matty is is 5-10am(I believe first hour is best-of's). Romeo is now doing afternoons at the Beat and KJ midday(9am-2pm).

I heard him after 10 and was wondering how long he would be on till.

Will they have a night show now ?

 

[bostonradio]

I heard him after 10 and was wondering how long he would be on till.

Will they have a night show now ?

No local jocks at night on 103.3. Same goes for Mix 104.1.

I believe the only music station left in the market that has a live local DJ at night is Magic 106.7. Others are either automated or voice-tracked.

 

[bostonradio]

Joe Cortese is the interim midday voice on Magic. He hosts Back to the 80's and also is Magic's Production Director.

 

[dhoule]

Entercom Cuts

Last I knew (you always have to preface with that in this business), Kenny Young was on at night at ZLX.

 

[bostonradio]

Last I knew (you always have to preface with that in this business), Kenny Young was on at night at ZLX.

He has been exec producing K&M&Heather for a few weeks now Voice-tracked at night.

 

[MarkW]

Re:

It's his family's company. His father is still the Chairman. This isn't some theoretical situation. This is real life.

When I stated Mr. Field became "CEO of a much larger company," I was referring to the size of Entercom's balance sheet post-merger as compared to pre-merger.

What you describe as the "blame game" I call accountability.

 

[TheBigA]

What you describe as the "blame game" I call accountability.

He's accountable to his daddy and the stockholders, not you. This is not a reality TV show where you get to vote him off the island.

 

[MarkW]

You're right; I do not sit on Entercom's board.

Even with a mediocre CEO such as David Field, I have to admit that at $0.92 a share, ETM's stock might not be a bad buy right now!

 

[TheBigA]

I think that's what Entercom's Board of Directors need to do! If they refuse to do it, then the BoD should be cast off by the shareholders.

How much of their stock do you own?

 

[MarkW]

Zero, at present. I potentially will be submitting an order before market open Monday. My fear is the price will soar (in percentage terms) in pre-market trading. The market has been very volatile the past couple of weeks.

Even if they are at risk of blowing a financial covenant, I think there is a very high likelihood that their senior lenders will amend the Credit Agreement as opposed to declaring an Event of Default. I can see their stock trading in a $1.50 to $2.00 bandwidth in the not too distant future.

I do see that a Proxy Statement was released in March for the upcoming May 5 Annual Meeting of Shareholders! (Only shareholders of record as of March 10 are eligible to vote by proxy.) Hey, look at whose board term is expiring! David J. Field and Joseph M. Field! Each are seeking a new term of 3 years. If I were a shareholder of record as of March 10, I sure know how I would be voting!!!

 

[freqlost]

He was also doing a weekly national version. So it's likely what you heard. Let's see what happens next Sunday.

He is on again this morning, so that must be what they are playing.

 

[MarkW]

I purchased Entercom shares at a blended price of $1.02 per share today. Part of my order went through prior to market open at $0.99 per share. The remaining (and largest part) of my order went through after the market opened and priced at $1.03 a share.

ETM closed at $1.00 per share today.