Expose The Hypocrisy


November 07, 2007
Entercom Again Touching Fresh Lows


Losing millions of dollars in market capitalization has now become routine for Entercom. Yesterday and today, ETM shares are again touching fresh, 10-year lows.

Right now it's trading at $16.96, down 21 cents. Even that small decline means a $6.5m drop in capitalization. According to Hoover's, the Field family owns 70% of Entercom's outstanding shares.

Quarterly earnings are due to be reported this week, so Wall Street obviously isn't expecting much in the way of results.


UPDATE: overall market takes a dive, Dow down 360, Entercom closes down 50 cents at $16.67. Lowest close in at least a decade. Market cap loss of $15m today for the company.

Posted by Brian Maloney at 12:00 PM | Comments (15)  | Track


Comments

I read the other day that radio is getting pounded on the street because industry revenue in Q3 was -7% to a previous forecast of -1%. It would stand to reason that Entercom, as a pure play radio entity, would take some lumps.

If we were to slice up Eddie Andelman's old Blame Pie, I wouldn't give Entercom in general or WRKO a very big slice.

Posted by: Context Please! at November 7, 2007 12:32 PM


Context = Excuses For Poor Performance

Posted by: Brian Maloney at November 7, 2007 12:51 PM


The stock price is reflective of all 23 markets. It would be very telling to see in which markets Entercom stations are doing well.

The following comes from Entercom's web page:
http://www.entercom.com/about.php

The Entercom Team
Entercom believes that radio station operators differentiate themselves from their peers primarily through their ability to recruit, develop, motivate and retain superior management, programming and sales talent. Accordingly, the Company strives to establish a compelling corporate culture, which is attractive to high performers.

I'm thinking the group in charge of WRKO missed the above memo. Maybe more focus groups like last night will help them reach the goal they have on Entercom's web page.

Actions like: lock outs, hiring no talent felons, and contract disputes seem to contradict what they claim on their web page.

Posted by: bjd at November 7, 2007 12:54 PM


It's only the beginning for Entercom, downward spiral in effect.

Posted by: Barbara at November 7, 2007 01:10 PM


My message to Entercom in the words of Col Hunt - BURN IN HELL

I hope they lose thier shirts.

Posted by: BigBish at November 7, 2007 01:35 PM


Forgive me for asking for more information. I forgot, you're a "gut" man, just like W. Maybe you should see what the Nigerians think about Entercom stock. I'm sure they'll be right on the mark.

If this writers' strike gets settled, you should go on Colbert.

Posted by: Context Please! at November 7, 2007 03:07 PM


I am selling my entercom stock... all of it.

Posted by: Mike Rotch at November 7, 2007 03:23 PM


Do Horseface Kahn's Red Sox tix get nixed? Does Coffeeboy Wolfe have to hit the Dunkin Donuts on Market and North Beacon Streets instead of the Starbucks on Soldiers Field Road when he fetches Ms. Thing's latte?

Take Entercom and add WGBH to the complex...a snooty building of Starbucks drinkers becomes the snottiest building outside of downtown Boston. Then the clock strikes 5pm, as the rats are all racing home to the 'burbs in their Beamers and Lexus SUVs and Prius mobiles (everyone in Brighton looks forward to that time of day).

Posted by: Joe from Brighton at November 7, 2007 05:20 PM


Hey...when Entercom does their investor road shows, they can use the same charade that newspapers are using: "Well, our listeners are falling off, but you should see how our WEB SITE is doing!!! Whoah Nellie!"

Laughable. Newspapers and TV stations are using their favorite enemy, the Internet, as an ally as they try to convince the world that the sky isn't falling. I'm sure the same trick has been thought of in Radio Land. News flash: TV stations and radio stations have some of THE WORST and LEAST VISITED web sites EVER.

Posted by: Chris at November 7, 2007 09:28 PM


Joe, have you seen the woman you so blithely call "horseface"?

She is gorgeous, a real knockout.

Where does this hostility towards women come from?

Posted by: Mike Rotch at November 8, 2007 07:34 AM


Fresh Lows, fresh lows, fresh lows.

sweeeeeeeeeeeeeeeeet.

Distrust
Tsunami
Manifesto


Posted by: joy at November 8, 2007 10:22 AM


That gadfly "I Am Slotto" was apparently right, at least about one thing. On the stream the other day, I heard Scott Miller do an Indian accent. LMAO! I miss SAM. He used to brighten my days when he was on RKO.

Posted by: Mike Rotch at November 8, 2007 10:58 AM


mike you invested in broadcast radio? lmao

Posted by: finnerangone at November 8, 2007 12:32 PM


Hey Mike;

You can live stream Scotto here:

http://www.wrow.com/

I've done it a couple of times this week!

Posted by: Barbara at November 8, 2007 01:59 PM


That's a woman?

She looks like a horseface to me.

What are her days of the month since you seem to know her so well? (1-30?)

Posted by: Joe from Brighton at November 8, 2007 06:41 PM