Audacy (AUDAQ) 10-Q 7 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 29, 2015
Document Information [Line Items]
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Entity Registrant Name	Entercom Communications Corp.
Entity Central Index Key	1,067,837
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Well Known Seasoned Issuer	No
Trading Symbol	ETM
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock Shares Outstanding		32,420,908
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock Shares Outstanding		7,197,532

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets Abstract
Cash	$ 43,663	$ 31,540
Accounts receivable, net of allowance for doubtful accounts	73,767	70,249
Prepaid expenses, deposits and other	6,930	5,937
Prepaid and refundable federal and state income taxes	45	30
Deferred tax assets	2,248	2,248
Total current assets	126,653	110,004
Net property and equipment	45,896	44,662
Radio broadcasting licenses	719,092	718,992
Goodwill	38,850	38,850
Assets held for sale	868	868
Deferred charges and other assets, net of accumulated amortization	10,783	13,239
TOTAL ASSETS	942,142	926,615
Liabilities Abstract
Accounts payable	98	324
Accrued expenses	16,828	13,938
Accrued compensation and other current liabilities	15,749	13,499
Financing method lease obligations, current portion	0	0
Long-term debt, current portion	29,835	3,000
Total current liabilities	62,510	30,761
Long-term debt, net of current portion	448,759	476,929
Deferred tax liabilities	68,093	63,470
Other long-term liabilities	26,052	26,434
Total long-term liabilities	542,904	566,833
Total liabilities	$ 605,414	$ 597,594
CONTINGENCIES AND COMMITMENTS
SHAREHOLDERS' EQUITY:
Preferred stock	$ 0	$ 0
Common stock	396	391
Additional paid-in capital	609,563	608,515
Accumulated deficit	(273,231)	(279,885)
Accumulated other comprehensive income (loss)	0	0
Total shareholders' equity	336,728	329,021
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 942,142	$ 926,615

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Common Stock, Value	$ 396	$ 391

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement Abstract
NET REVENUES	$ 100,592,000	$ 100,201,000	$ 179,012,000	$ 178,436,000
OPERATING EXPENSE:
Station operating expenses, including non-cash compensation expense	70,000,000	68,221,000	129,367,000	126,182,000
Depreciation and amortization expense	1,905,000	1,867,000	3,860,000	3,841,000
Corporate general and administrative expenses, including non-cash compensation expense	6,451,000	6,359,000	12,730,000	12,775,000
Impairment loss	0	0	0	0
Merger and acquisition period costs	2,031,000	0	3,754,000	0
Net time brokerage agreement (income) fees	0	0	0	0
Net (gain) loss on sale or disposal of assets	(410,000)	(162,000)	(567,000)	(202,000)
Total operating expense	79,977,000	76,285,000	149,144,000	142,596,000
OPERATING INCOME (LOSS)	20,615,000	23,916,000	29,868,000	35,840,000
OTHER (INCOME) EXPENSE:
Net interest expense	9,313,000	9,812,000	18,592,000	19,715,000
Net (gain) loss on extinguishment of debt	0	0	0	0
Net (gain) loss on derivative instruments	0	0	0	0
Net (gain) loss on investments	0	0	0	0
Other income	0	55,000	0	0
TOTAL OTHER EXPENSE	9,313,000	9,867,000	18,592,000	19,715,000
INCOME (LOSS) BEFORE INCOME TAXES (BENEFIT)	11,302,000	14,049,000	11,276,000	16,125,000
INCOME TAXES (BENEFIT)	4,555,000	5,912,000	4,622,000	6,625,000
NET INCOME (LOSS)	$ 6,747,000	$ 8,137,000	$ 6,654,000	$ 9,500,000
NET INCOME (LOSS) PER SHARE - BASIC
NET INCOME (LOSS) PER SHARE - BASIC	$ 0.18	$ 0.22	$ 0.17	$ 0.25
NET INCOME (LOSS) PER SHARE - DILUTED
NET INCOME (LOSS) PER SHARE - DILUTED	$ 0.17	$ 0.21	$ 0.17	$ 0.25
WEIGHTED AVERAGE SHARES:
Basic	38,074,240	37,686,679	38,071,049	37,681,004
Diluted	38,928,610	38,445,886	39,026,880	38,515,072

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Class A [Member]	Common Class B [Member]	Additional Paid In Capital [Member]	Retained Earnings [Member]
Opening Balance SHARES at Dec. 31, 2013		31,308,194	7,197,532
Compensation expense related to granting of restricted stock awards SHARES		638,102	0
Exercise of stock options SHARES		57,500	0
Purchase of vested employee restricted stock units SHARES		(141,502)	0
Ending Balance SHARES at Dec. 31, 2014		31,862,294	7,197,532
Opening Balance VALUE at Dec. 31, 2013	$ 298,393	$ 313	$ 72	$ 604,721	$ (306,713)
Net income (loss)	26,823				26,823
Compensation expense related to granting of restricted stock awards VALUE	5,232	7	0	5,225	0
Purchase of vested employee restricted stock units	(1,514)	(1)	0	(1,513)	0
Forfeitures of dividend equivalents VALUE	5	0	0	0	5
Realization of tax benefit for dividend equivalent payments VALUE	82	0	0	82	0
Ending Balance VALUE at Dec. 31, 2014	$ 329,021	$ 319	$ 72	608,515	(279,885)
Compensation expense related to granting of stock options SHARES	0
Compensation expense related to granting of restricted stock awards SHARES		626,654	0
Common stock repurchase SHARES		8,750	0
Exercise of stock options SHARES	8,750
Purchase of vested employee restricted stock units SHARES		(127,906)	0
Ending Balance SHARES at Jun. 30, 2015		32,369,792	7,197,532
Net income (loss)	$ 6,654				6,654
Compensation expense related to granting of restricted stock awards VALUE	2,542	$ 6	$ 0	2,536	0
Purchase of vested employee restricted stock units	(1,520)	(1)	0	(1,519)	0
Realization of tax benefit for dividend equivalent payments VALUE	31	0	0	31	0
Ending Balance VALUE at Jun. 30, 2015	$ 336,728	$ 324	$ 72	$ 609,563	$ (273,231)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
OPERATING ACTIVITIES:
Net income (loss)	$ 6,654	$ 9,500
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	3,860	3,841
Amortization of deferred financing costs	1,588	2,283
Net deferred taxes (benefit) and other	4,622	6,625
Tax benefit on exercise of options	0	0
Provision for bad debts	564	604
Net (gain) loss on sale or disposal of assets	(567)	(199)
Non-cash stock-based compensation expense	2,542	2,494
Net (gain) loss on investments	0	0
Net (gain) loss on derivatives	0	0
Deferred rent	355	415
Unearned revenue - long-term	(10)	(28)
Net (gain) loss on extinguishment of debt	0	0
Deferred compensation	558	871
Tax benefit for vesting of restricted stock unit awards	0	0
Impairment loss	0	0
Net accretion expense for asset retirement obligations	7	(24)
Other income	0	0
Changes in assets and liabilities:
Accounts receivable	(4,082)	(720)
Prepaid expenses and deposits	(993)	(1,242)
Prepaid and refundable income taxes	0	0
Accounts payable and accrued liabilities	5,252	5,689
Accrued interest expense	(44)	(132)
Accrued liabilities - long-term	(1,050)	(970)
Prepaid expenses - long-term	656	(411)
Net cash provided by (used in) operating activities	19,912	28,596
INVESTING ACTIVITIES:
Additions to property and equipment	(4,744)	(4,782)
Proceeds from sale of property, equipment, intangibles and other assets	406	72
Deferred charges and other assets	(462)	(638)
Purchases of investments	0	0
Proceeds from investments and capital projects	0	0
Proceeds from termination of radio station contract	0	0
Proceeds from insurance recovery	0	0
Station acquisition deposits and costs	0	0
Net cash provided by (used in) investing activities	(4,800)	(5,348)
FINANCING ACTIVITIES:
Deferred financing expenses related to bank facility amendment	0	0
Proceeds from issuance of long-term debt	0	13,500
Proceeds from the financing method of lease obligations	0	0
Payments of long-term debt	(1,500)	(41,000)
Net proceeds from the senior unsecured notes	0	0
Retirement of senior subordinated notes	0	0
Purchase of the Company's common stock	0	0
Proceeds from issuance of employee stock plan	0	0
Proceeds from the exercise of stock options	31	28
Purchase of vested employee restricted stock units	(1,520)	(908)
Realization of tax benefits for payment of dividend equivalents	0	0
Payment of dividend equivalents on vested restricted stock units	0	0
Payment of dividends	0	0
Net cash provided by (used in) financing activities	(2,989)	(28,380)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	12,123	(5,132)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	31,540	12,231
CASH AND CASH EQUIVALENTS, END OF PERIOD	43,663	7,099
Cash paid during the period for:
Interest	17,456	17,960
Income taxes	81	79
Dividends	$ 0	$ 0

BASIS OF PRESENTATION AND ORGAN

BASIS OF PRESENTATION AND ORGANIZATION (Block)	6 Months Ended
	Jun. 30, 2015
Organization Consolidation And Presentation Of Financial Statements Abstract
Business Description And Basis Of Presentation Text Block	1. BASIS OF PRESENTATION AND SIGNIFICANT POLICIES The condensed consolidated interim unaudited financial statements included herein have been prepared by Entercom Communications Corp. and its subsidiaries (collectively, the “Company”) in accordance with: ( i ) generally accepted accounting principles (“U.S. GAAP”) for interim financial information; and (ii) the instructions of the Securities and Exchange Commission (the “SEC”) for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not i nclude all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, the financial statements reflect all adjustments considered necessary for a fair statement of the results of operations and fi nancial position for the interim periods presented. All such adjustments are of a normal and recurring nature. The Company’s results are subject to seasonal fluctuations and, therefore, the results shown on an interim basis are not necessarily indicative of results for a full year. This Form 10-Q should be read in conjunction with the financial statements and related notes included in the Company’s audited financial statements as of and for the year ended December 31, 2014 and filed with the SEC on March 2, 2015 , as part of the Company’s Annual Report on Form 10-K. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. T here have been no m aterial changes from Note 2, Significant Accounting Policies , as described in the notes to the Company’s financial statements contained in its Form 10-K for the year ended December 31, 2014 that was filed with the SEC on March 2, 2015 . Recent Accounting Pronouncements All new accounting pronouncements that are in effect that may impact the Company’s financial statements have been implemented. The Company does not believe that there are any other new accounting pronouncements that have been issued, other than a few of those listed below or those included in the notes to the Company’s financial statements contained in its Form 10-K for the year ended December 31, 2014 that was filed with the SEC on March 2, 2015, that might have a ma terial impact on the Company’s financial position, results of operations or cash flows. Fees Paid In A Cloud Computing Arrangement In April 2015, the accounting guidance was revised to identify when a cloud computing service includes a software license t hat is to be capitalized and treated consistently with the acquisition of other software licenses. T his guidance is effective for the Company as of January 1, 2016. The Company is currently evaluating this guidance, but does not anticipate it will have a material impact on its financial statements. Debt Issuance Costs In April 2015, the accounting guidance was amended to modify the presentation of debt issuance costs on the balance sheet by requiring that all costs, including incremental third-party costs, be reflected as an offset to the associated debt liability rather than as a deferred charge. This guidance is effective for the Company as of January 1, 2016. The impact of this guidance to the Company will be for balance sheet presentation purposes only and will have no impact on the Company’s results of operations, cash flows or financial condition. Consolidation In Feb ruary 2015, the accounting guidance for consolidation was amended which revises the analysis of and reduces the need to consolidate certain entities. This guidance is effective for the Company as of January 1, 2016. The Company does not anticipate that thi s accounting guidance will have any material effect on the Company’s results of operations, cash flows or financial condition. Reporting Discontinued Operations In April 2014, the criteria for reporting discontinued operations, including enhanced disclo sures, was modified under new accounting guidance. Under the new guidance, only disposals that have a major effect through a strategic shift on an organization’s operations and financial results should be presented as discontinued operations. In addition, the new guidance requires expanded disclosures that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The guidance was effective for the Company as of January 1, 20 15. The Company expects that this new guidance will reduce the number of transactions that will qualify for reporting discontinued operations.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Block)	6 Months Ended
	Jun. 30, 2015
Goodwil And Intangible Assets Disclosure [Abstract]
Goodwill And Intangible Assets Disclosure Text Block	2. INTANGIBLE ASSETS AND GOODWILL Goodwill and certain intangible assets are not amortized for book purposes; however, they may be amortized for tax purposes . The Company accounts for its acquired broadcasting licenses as indefinite-lived intangible assets and, similar to goodwill, these assets are reviewed at least annually for impairment. At the time of each review, if the fair value is less than the carryin g value of goodwill and certain intangibles (such as broadcasting licenses), then a charge is recorded to the results of operations. The following table presents the changes in broadcast ing licenses : Broadcasting Licenses Carrying Amount June 30, June 30, 2015 2014 (amounts in thousands) Beginning of period balance as of January 1, $ 718,992 $ 718,542 Acquisitions 100 450 Ending period balance $ 719,092 $ 718,992 The following table presents the changes in goodwill Goodwill Carrying Amount June 30, June 30, 2015 2014 (amounts in thousands) Goodwill balance before cumulative loss on impairment as of January 1, $ 164,465 $ 164,465 Accumulated loss on impairment as of January 1, (125,615) (125,615) Goodwill beginning balance after cumulative loss on impairment as of January 1, 38,850 38,850 Ending period balance $ 38,850 $ 38,850 Broadcasting Licenses Impairment Test The Company performs its annual broadcasting license impairment test during the second quarter of each year by evaluating its broadcasting licenses for impairment at the market level using the direct method . E ach market’s broadcasting licenses are combined into a single unit of accounting for purposes of testing impairment, as the broadcasting licenses in each market are operated as a single asset. The Company determines the fair value of the broadcasting licenses in each of its markets by relying on a discounted cash flow approach (a 10 - year income model) assuming a start-up scenario in which the only assets held by an investor are broadcasting licenses. The Company’s fair value analysis contains assumptions based upon past experience , reflects expectations of industry observers and includes judgments about future performance using industry normalized information for an average station within a certain market. These assumptions include, but are not limited to: (1) the discount rate; (2) the market share and profit margin of an average station within a market, based upon market size and station type ; (3) the forecast growth rate of each radio market; ( 4 ) the estimated capital start-up costs and losses incurred during the early years; (5) the likely media competition within the market area ; (6) the tax rate; and (7) future terminal values. The methodology used by the Company in determining its key estimates and assumptions was applied consistently to each market. Of the seven variables identified above, the Company believes that the assumptions in items (1) through (3) above are the most important and sensitive in the determination of fair value. The following table reflects the estimates and assumptions used in the second quarter of each year ( no interim tests were performed in these years) : Estimates And Assumptions Second Second Quarter Quarter 2015 2014 Discount rate 9.7% 9.6% Operating profit margin ranges expected for average stations in the markets where the Company operates 25% to 40% 25% to 40% Long-term revenue growth rate range of the Company's markets 1.5% to 2.0% 1.5% to 2.0% During the second quarter for each of the years 2015 and 2014, t he Company completed its annual impairment test for broadcasting licenses and determined that the fair value of its broadcasting licenses was greater than the amount reflected in the balance sheet for each of the Company’s markets and, accordingly, no impairment was recorded. The Company has made reasonable estimates and assumptions to calculate the fair value of its broadcasting licenses. T hese estimates and assumptions could be materially different from actual results. If actual market conditions are less favorable than those projected by the industry or the Company, or if events occur or circumstances change that would reduce the fair value of the Company’s broadcasting licenses below the amount reflected in the balance sheet, the Company may be required to conduct an interim test and possibly recognize impairment charges, which may be material, in future periods. Goodwill Impairment Test The Company performs its annual goodwill impairment test during the second quarter of each year by evaluating its goodwill for each reporting unit. The Company has determined that a radio market is a reporting unit and the Company assesses goodwill in each of the Company’s markets . If the fair value of any reporting unit is less than the amount reflected on the balance sheet, an indication exists that the amount of goodwill attributed to a reporting unit may be impaired, and the Company is required to perform a second step of the impairment test. The Company uses quantitative rather than qualitative factors to determine whether it is necessary to perform the two-step goodwill impairment test. In the second step, the Company compares the amount reflected on the balance sheet to the implied fair value of the reporting unit’s goodwill, determined by allocating the reporting unit’s fair value to all of its assets and liabilities in a manner similar to a purchase price allocation. To determine the fair value, the Company uses a market approach and, when appropriate, an income approach in computing the fair value of each reporting unit. The market approach calculates the fair value of each market ’s radio stations by analyzing recent sales and offering prices of similar properties expressed as a multiple of cash flow . The income approach utilizes a discounted cash flow method by projecting the subject property’s income over a specified time and capitalizing at an appropriate market rate to arrive at an indication of the most probable selling price. The following table reflects the estimates and assumptions used in the second quarter of each year ( no interim tests were performed in these years): Estimates And Assumptions Second Second Quarter Quarter 2015 2014 Discount rate 9.7% 9.6% Long-term revenue growth rate range of the Company's markets 1.5% to 2.0% 1.5% to 2.0% Market multiple used in the market valuation approach 7.5x to 8.0x 7.5x to 8.0x During the second quarter in each of the years 2015 and 2014, t he results of step one indicated that it was not necessary to perform the second step analysis in any of the reporting units that contained goodwill. The Company also performed a reasonableness test on the fair value results for goodwill on a combined basis by comparing the carrying value of the Company’s assets to the C ompany’s enterprise value based upon its stock price. The Company determined that t he results were reasonable. In step one of the Company’s goodwill analysis, the Company considered the results of the market approach and , when appropriate, the income approach in computing the fair value of the Company’s reporting units. In the market approach, the Company applied an estimated market multiple to each reporting unit’s operating profit to calculate the fair value. In the income approach, the Company utilized the discounted cash flow methodology to calculate the fair value of the reporting unit . Management believes that these approaches are commonly used and appropriate methodologies for valuing broadcast radio stations. Factors contributing to the determination of the reporting unit’s operating performance were historical performance and/o r management’s estimates of future performance. If actual market conditions are less favorable than those projected by the industry or the Company, or if events occur or circumstances change that would reduce the fair value of the Company’s goodwill below the amount reflected in the balance sheet, the Company may be required to conduct an interim test and possibly recognize impairment charges, which could be material, in future periods.

OTHER CURRENT LIABILITIES (Bloc

OTHER CURRENT LIABILITIES (Block)	6 Months Ended
	Jun. 30, 2015
Other Liabilities Current Abstract
Accounts Payable Accrued Liabilities And Other Liabilities Disclosure Current Text Block	3 . OTHER CURRENT LIABILITIES O ther current liabilities consist of the following as of the periods indicated: Other Current Liabilities June 30, December 31, 2015 2014 (amounts in thousands) Accrued compensation $ 6,349 $ 5,783 Accounts receivable credits 3,448 2,398 Advertiser obligations 1,214 928 Accrued interest payable 2,733 2,777 Other 2,005 1,613 Total other current liabilities $ 15,749 $ 13,499

LONG-TERM DEBT (Block)

LONG-TERM DEBT (Block)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure Text Block	4 . LONG-TERM DEBT (A) Senior Debt The Credit Facility As of June 30, 2015 , the amount outstanding under the term loan component (the “Term B Loan”) of the Company’s senior secured credit facility (the “Credit Facility”) was $ 260.5 million and no amount was outstanding under the revolving credit facility component (the “Revolver”) of the Credit Facility. The maximum available amount under the Revolver, which includes the impact of outstanding letters of credit, was $ 49.3 million as of June 30, 2015 . The amount of the Revolver actually available to the Company is a function of covenant compliance at the time of borrowing. On November 23, 2011, the Company entered into a credit agreement with a syndicate of lenders for a $ 425 mi llion Credit Facility that was initially comprised of: (a) a $ 50 million Revolver that matures on November 23 , 2016; and (b) a $ 375 million Term B Loan that matures on November 23, 2018. The Term B Loan requires mandatory prepayments equal to 50 % of Excess Cash Flow, as defined within the agreement, subject to incremental step-downs de pending on the Consolidated Leverage Ratio . The Excess Cash Flow payment is due in the first quarter of each year for the prior year. An estimate of this payment that is due next year, net of any prepayments made through June 30, 2015 , is included under the current portion of long-term debt. The Company expects to fund the payment using cash from operating activities. A s of June 30, 2015 , the Company is in compliance with all financial covenants and all other terms of the Credit Facility in all material respects . The Company’s ability to maintain compliance with its covenants is highly dependent on its results of operations. Management believes that over the next 12 months the Company can continue to maintain compliance. The Company’s operating cash flow is positive, and management believes that it is adequate to fund the Company’s operating needs. T he Company has not been required to rely upon, and the Company does not anticipate being required to rely upon, the Revolver to fund its operations . Management believes that cash on hand and cash from operating activities, together with available borrowings under the Revolver, will be sufficient to permit the Company to meet its liquidity requirements over the next 12 months, including its debt repayments. Failure to comply with the Company’s financial covenants or other terms of its Credit Facility and any subsequent failure to negotiate and obtain any required relief from its lenders could result in a default under the Company’s Credit Facility. Any event of default could have a material adverse effect on the Company’s business and financial condition. In addition, a default under either the Company’s Credit Facility or the indenture governing the Company’s 10.5 % senior unsecured notes (the “Senior Notes”) could cause a cross default in the other and result in the acceleration of the maturity of all outstanding debt. The acceleration of the Company’s debt could have a material adverse effect on its business. The Company may seek from time to time to amend its Credit Facility or obtain other funding or additional funding, which may result in higher interest rates on its debt. ( B ) Senior Unsecured Debt The Senior Notes Simultaneous ly with entering into the Credit Facility on November 23, 2011 , the Company issued $ 220.0 million of 10.5 % unsecured Senior Notes which mature on December 1, 2019. The Company received net proceeds of $ 212.7 million, which include d a discount of $ 2.9 million , and incurred deferred financing costs of $ 6.1 million. These amounts are amortized over the term under the effective interest rate method. Interest on the Senior Notes is payable semi-annually in arrears on June 1 and December 1 of each year . ( C ) Net Interest Expense The components of net interest expense are as follows: Net Interest Expense Six Months Ended June 30, 2015 2014 (amounts in thousands) Interest expense $ 17,004 $ 17,432 Amortization of deferred financing costs 1,423 2,134 Amortization of original issue discount of senior notes 165 149 Total net interest expense $ 18,592 $ 19,715 Net Interest Expense Three Months Ended June 30, 2015 2014 (amounts in thousands) Interest expense $ 8,513 $ 8,689 Amortization of deferred financing costs 716 1,048 Amortization of original issue discount of senior notes 84 75 Total net interest expense $ 9,313 $ 9,812

SHARE-BASED COMPENSATION (Block

SHARE-BASED COMPENSATION (Block)	6 Months Ended
	Jun. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments Abstract
Disclosure Of Compensation Related Costs Share Based Payments Text Block	5 . SHARE-BASED COMPENSATION Under the Entercom Equity Compensation Plan (the “Plan”), the Company is authorized to issue share-based compensation awards to key employees, directors and consultants. Restricted Stock Units (“RSUs”) Activity The following is a summary of the changes in RSUs under the Plan during the current period: Number Weighted Aggregate Of Weighted Average Intrinsic Restricted Average Remaining Value As Of Stock Purchase Contractual June 30, Period Ended Units Price Term (Years) 2015 RSUs outstanding as of: December 31, 2014 1,258,685 RSUs awarded 672,277 RSUs released (392,255) RSUs forfeited (45,623) RSUs outstanding as of: June 30, 2015 1,493,084 $ - 1.5 $ 17,051,019 RSUs vested and expected to vest as of: June 30, 2015 1,391,251 $ - 1.4 $ 14,958,724 RSUs exercisable (vested and deferred) as of: June 30, 2015 81,380 $ - - $ 929,360 Weighted average remaining recognition period in years 2.2 Unamortized compensation expense, net of estimated forfeitures $ 9,412,152 RSUs With Service And Market Conditions During the first quarter s of 2015 and 201 4 , the Company issued RSUs with service and market conditions that are included in the above table. These shares vest if: (1) the Company’s stock achieves certain shareholder performance targets ov er a defined measurement period; and (2) the employee fulfills a minimum service period. The compensation expense is recognized even if the market conditions are not satisfied and are only reversed in the event the service period is not met, as all of the conditions need to be satisfied. These RSUs, which are included in the RSU activity table, are amortized over the longest of the explicit, implicit or derived service periods, which range from one to two years. The following table presents the changes in outstanding RSUs with market conditions : Six Months Year Ended Ended June 30, December 31, 2015 2014 (amounts in thousands, except per share data) Reconciliation Of RSUs With Market Conditions Beginning of period balance 290 - Number of RSUs granted 165 290 Number of RSUs forfeited - - Number of RSUs vested (65) - End of period balance -65 390 290 Average fair value of RSUs issued with market conditions $ 8.39 $ 6.90 The fair value of RSUs with service conditions is estimated using the Company’s closing stock price on the date of the grant. To determine the fair value of RSUs with service and market conditions, the Company used the Monte Carlo simulation lattice model. The Company’s determination of the fair value was based on the number of shares granted, the Company’s stock price on the date of grant and certain assumptions regarding a number of highly complex and subjective variables. If other reasonable assumptions were used, the results could differ. The specific assumptions used for this valuation are as follows: Six Months Ended June 30, June 30, 2015 2014 Expected Volatility Term Structure (1) 34% to 39% 39% to 51% Risk-Free Interest Rate (2) 0.1% to 1.1% 0.1% to 0.4% Dividend Yield (3) 0.0% 0.0% Expected Volatility Term Structure - The Company estimated the volatility term structure using: (1) the historical volatility of its stock; and (2) the implied volatility provided by its traded options from a trailing month’s average of the closing bid-ask price quotes. Risk-Free Interest Rate - The Company estimated the risk-free interest rate based upon the implied yield available on U.S. Treasury issues using the Treasury bond rate as of the date of grant. Dividend Yield - The Company c alculated the dividend yield at the time of grant based upon the Company’s most recent history of not paying a dividend on its common stock. RSUs With Performance Conditions In addition to the RSUs included in the table above summarizing the changes in RSUs under the Plan, the Company issued eleven thousand RSUs during 2014 with performance conditions at an average fair market value of $ 9.60 p er share . As of June 30, 2015 , three thousand RSUs expired unvested. Vesting of performance-based awards, if any, is dependent upon the achievement of certain performance targets . If the performance standards are not achieved, all unvested shares will expire and any accrued expense will be reversed . The Company determines the requisite service period on a case-by-case basis to determine the expense recognition period for non-vested performance based RSUs. The fair value is determined based upon the closing price of the Company’s common stock on the date of grant. The Company applies a quarterly probability assessment in computing its non-cash compensation expense and any change in the estimate is reflected as a cumulative adjustment to expense in the quarter of the change. As of June 30, 2015 , no non-cash compensation expense was accrued and no performance RSUs vested . Option Activity The following table provides summary information related to the exercise of stock options: Six Months Ended June 30, Option Exercise Data 2015 2014 (amounts in thousands) Intrinsic value of options exercised $ 72 $ 147 Tax benefit from options exercised (1) $ 27 $ 56 Cash received from exercise price of options exercised $ 31 $ 28 Amount excludes impact from suspended income tax benefits and/or valuation allowances. The following table presents the option activity during the current period under the Plan : Weighted Intrinsic Weighted Average Value Average Remaining As Of Number Of Exercise Contractual June 30, Period Ended Options Price Term (Years) 2015 Options outstanding as of: December 31, 2014 486,675 $ 2.11 Options granted - - Options exercised (8,750) 3.60 Options forfeited (3,750) 8.72 Options expired (1,000) 33.90 Options outstanding as of: June 30, 2015 473,175 $ 1.97 3.6 $ 4,476,674 Options vested and expected to vest as of: June 30, 2015 473,175 $ 1.97 3.6 $ 4,476,674 Options vested and exercisable as of: June 30, 2015 473,175 $ 1.97 3.6 $ 4,476,674 Weighted average remaining recognition period in years - Unamortized compensation expense, net of estimated forfeitures $ 13,632 The following table summarizes significant ranges of outstanding and exercisable options as of the current period : Options Outstanding Options Exercisable Number Of Weighted Number Of Options Average Weighted Options Weighted Range Of Outstanding Remaining Average Exercisable Average Exercise Prices June 30, Contractual Exercise June 30, Exercise From To 2015 Life Price 2015 Price $ 1.34 $ 1.34 436,925 3.6 $ 1.34 436,925 $ 1.34 $ 2.02 $ 11.78 36,250 3.0 $ 9.54 36,250 $ 9.54 $ 1.34 $ 11.78 473,175 3.6 $ 1.97 473,175 $ 1.97 Recognized Non-Cash Stock-Based Compensation Expense The following non-cash stock-based compensation expense, which is comprised primarily of RSUs, is included in each of the respective line items in our statement of operations : Six Months Ended June 30, 2015 2014 (amounts in thousands) Station operating expenses $ 545 $ 395 Corporate general and administrative expenses 1,997 2,099 Stock-based compensation expense included in operating expenses 2,542 2,494 Income tax benefit (1) 936 743 Net stock-based compensation expense $ 1,606 $ 1,751 Three Months Ended June 30, 2015 2014 (amounts in thousands) Station operating expenses $ 368 $ 259 Corporate general and administrative expenses 1,062 1,026 Stock-based compensation expense included in operating expenses 1,430 1,285 Income tax benefit (1) 523 390 Net stock-based compensation expense $ 907 $ 895 Amount excludes impact from suspended income tax benefits and/or valuation allowances.

NET INCOME (LOSS) PER COMMON SH

NET INCOME (LOSS) PER COMMON SHARE (Block)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share Abstract
Earnings Per Share Text Block	6. NET INCOME (LOSS) PER COMMON SHARE T he following tables present the computations of basic and diluted net income (loss) per share: Six Months Ended June 30, 2015 June 30, 2014 (amounts in thousands, except share and per share data) Net Income Net Income Net Income (Loss) Net Income (Loss) (Loss) Shares Per Share (Loss) Shares Per Share Basic net income (loss) per common share: $ 6,654 38,071,049 $ 0.17 $ 9,500 37,681,004 $ 0.25 Impact of dilutive equity awards 955,831 834,068 Diluted net income (loss) per common share: $ 6,654 39,026,880 $ 0.17 $ 9,500 38,515,072 $ 0.25 Three Months Ended June 30, 2015 June 30, 2014 (amounts in thousands, except share and per share data) Net Income Net Income Net Income (Loss) Net Income (Loss) (Loss) Shares Per Share (Loss) Shares Per Share Basic net income (loss) per common share: $ 6,747 38,074,240 $ 0.18 $ 8,137 37,686,679 $ 0.22 Impact of dilutive equity awards 854,370 759,207 Diluted net income (loss) per common share: $ 6,747 38,928,610 $ 0.17 $ 8,137 38,445,886 $ 0.21 Incremental Shares Disclosed As Anti-Dilutive T he following table provides the incremental shares excluded as they were anti-dilutive under the treasury stock method: Six Months Ended June 30, Impact Of Equity Awards 2015 2014 (amounts in thousands, except per share data) Dilutive or anti-dilutive for all potentially dilutive equivalent shares dilutive dilutive Excluded shares as anti-dilutive under the treasury stock method: Options - 33 Price range of options: from $ - $ 10.74 Price range of options: to $ - $ 35.05 RSUs with service conditions 6 - Excluded RSUs with service and market conditions as market conditions not met 165 290 Excluded RSUs with service and performance conditions as performance conditions not met 8 3 Three Months Ended June 30, Impact Of Equity Awards 2015 2014 (amounts in thousands, except per share data) Dilutive or anti-dilutive for all potentially dilutive equivalent shares dilutive dilutive Excluded shares as anti-dilutive under the treasury stock method: Options - 32 Price range of options: from $ - $ 10.74 Price range of options: to $ - $ 35.05 RSUs with service conditions 7 - Excluded RSUs with service and market conditions as market conditions not met 165 290 Excluded RSUs with service and performance conditions as performance conditions not met 8 3

INCOME TAXES (Block)

INCOME TAXES (Block)	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure Abstract
Income Tax Disclosure Text Block	7 . INCOME TAXES Tax Rates For The Six Months And Three Months Ended June 30, 2015 T he effective income tax rates were 41.0 % and 40.3 % for the six months and three months ended June 30, 2015 , respectively. These rates were impacted by an adjustment for expenses that are not deductible for tax purposes and an increase in net deferred tax liabilities associated with non-amortizable assets such as broadcasting licenses and goodwill. The income tax rate has been trending down as expenses not deductible for tax purposes has decreased due to the issuance to senior management of a higher percentage of awards that were market based. Tax Rates For The Six Months And Three Months Ended June 30, 2014 The effective income tax rates were 41.1 % and 42.1 % for the six months and three months ended June 30, 2014 , respectively. These rates were impacted by an adjustment for expenses that are not deductible for tax purposes , a n increase in net deferred tax liabiliti es associated with non-amortizable assets such as broadcasting licenses and goodwill and a tax benefit shortfall associated with stock-based awards. The rate was reduced by a tax benefit associated with statutory tax rate changes in certain states. Net Deferred Tax Assets And Liabilities As of June 30, 2015 and December 31, 2014 , net deferred tax liabilities were $ 65.8 million and $ 61.2 million, respectively. The income tax accounting process to determine the deferred tax liabilities involves estimating all temporary differences between the tax and financial reporting bases of the Company’s assets and liabilities, based on enacted tax laws and statutory tax rates applicable to the period in which the diffe rences are expected to affect taxable income. The Company estimated the current exposure by assessing the temporary differences and computing the provision for income taxes by applying the estimated effective tax rate to income.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS (Block)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures Abstract
Fair Value Disclosures Text Block	8 . FAIR VALUE OF FINANCIAL INSTRUMENTS Fair Value Of Financial Instruments Subject To Fair Value Measurements Recurring Fair Value Measurements The following table set s forth the Company's financial assets and /or liabilities that were accounted for at fair value on a recurring basis and are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value and its placement within the fair value hierarchy levels. Value Measurements At Reporting Date June 30, December 31, Description 2015 2014 (amounts in thousands) Liabilities Deferred compensation - Level 1 (1) $ 10,954 $ 11,017 (1) The Company’s deferred compensation liability, which is included in other long-term liabilities, is recorded at fair value on a recurring basis. The unfunded plan allows participants to hypothetically invest in various specified investment options. The def erred compensation plan liability is valued at Level 1 as it is based on quoted market prices of the underlying investments. Non-Recurring Fair Value Measurements The Company has certain assets that are measured at fair value on a non-recurring basis and are adjusted to fair value only when the carrying values are more than the fair values. The categorization of the framework used to price the assets is considered Level 3, due to the subjective nature of the unobservable inputs used to determine the fair valu e . During the quarters ended June 30 , 2015 and 2014 , the Company reviewed the fair value of its broadcasting licenses, goodwill and net property and equipment and other intangibles (except as identified below), and concluded that these assets were not impaired as the fair value of these assets equaled or exc eeded their carrying value. Fair Value Of Financial Instruments Subject To Disclosures The carrying amount of the following assets and liabilities approximates fair value due to the short maturity of these instruments: (1) cash and cash equivalents; (2) accounts receivable; and (3) accounts payable, including accrued liabilities. The following table presents the carrying value of financial instruments and, where practicable, the fair value as of the periods indicated: June 30, December 31, 2015 2014 Carrying Fair Carrying Fair Value Value Value Value (amounts in thousands) Credit Facility (1) $ 260,500 $ 260,826 $ 262,000 $ 261,345 Senior Notes (2) $ 218,094 $ 234,451 $ 217,929 $ 237,134 Letters of credit (3) $ 670 $ 620 The following methods and assumptions were used to estimate the fair value of financial instruments: (1) The Company’s determination of the fair value of the Credit Facility was based on quoted prices for this instrument and is considered a Level 2 measurement as the pricing inputs are other than quoted prices in active markets . (2) The Company utilizes a Level 2 valuation input based upon the market trading prices of the Senior Notes to compute the fair value as these Senior Notes are traded in the debt securities market. ( 3 ) The Company does not believe it is pr acticable to estimate the fair value of the outstanding standby letter s of credit and does not expect any material loss since the performance of the letter s of credit is not likely to be required.

ASSETS HELD FOR SALE (Block)

ASSETS HELD FOR SALE (Block)	6 Months Ended
	Jun. 30, 2015
Discontinued Operations And Disposal Groups Abstract
Disposal Groups Including Discontinued Operations Disclosure Text Block	9 . ASSETS HELD FOR SALE Long-lived assets to be sold are classified as held for sale in the period in which they meet all the criteria for the disposal of long-lived assets. The Company measures assets held for sale at the lower of their carrying amount or fair value less cost to sell. Additionally, the Company determined that these assets comprise operations and cash flows that can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the Company. As of June 30, 2015 , the Company classified $ 0.9 million as assets held for sale, which reflects land and a building that the Company formerly used as its main studio facility in one of its markets and a co-located tower/antenna structure for two of its AM radio stations that the Company plans to relocate to other suitable sites .

CONTINGENCIES AND COMMITMENTS (

CONTINGENCIES AND COMMITMENTS (Block)	6 Months Ended
	Jun. 30, 2015
Commitments And Contingencies Disclosure Abstract
Commitments And Contingencies Disclosure Text Block	10 . CONTINGENCIES AND COMMITMENTS Contingencies The Company is subject to various outstanding claims which arise in the ordinary course of business and to other legal proceedings. Management anticipates that any potential liability of the Company, which may arise out of or with respect to these matters , will not materially affect the Company’s financial position, results of operations or cash flows. There were no material changes from the contingencies listed in the Company’s Form 10-K, filed with the SEC on March 2, 2015 . Commitments Completed Acquisition - Lincoln On July 16, 2015 , the Company completed its transaction to acquire under a Stock Purchase Agreement (“SPA”) with The Lincoln National Life Insurance Company the stock of one of its subsidiaries, Lincoln Financial Media Company (“Lincoln”), which indirectly holds the assets and liabilities of 15 radio stations serving the Atlanta, Denver, Miami and San Diego markets. The purchase price was $ 105.0 million of which $ 77.5 million was paid in cash and $ 27.5 mi llion was paid with the Company’s issuance of new perpetual convertible preferred stock. The SPA originally dated December 7, 2014 and subsequently amended, provides for a working capital credit to the Company of $ 2.7 million. Other than in Denver, the Company does not currently operate any other stations in these markets. The SPA provides for a step-up in basis for tax purposes. Merger and acquisition related costs of $ 3.8 million and $ 2.0 million were expensed as a separate line item in the statement of operations for the six and three months ended June 30, 2015 , respectively. The Company used the proceeds from borrowings under its Revolver of $ 42.0 million and cash on hand to fund the cash portion of this transaction. The Department Of Justice (“DOJ”) is one of several government agencies responsible for enforcing federal antitrust laws. In connection with the Company’s acquisition of Lincoln, the Company settled wit h the DOJ and agreed to divest certain Denver radio stations as described below under dispositions. In order to comply with the Federal Communications Commission’s rules, one of the Denver radio stations to be divested, KKFN FM, is currently operating in a trust, of which the Company is the beneficiary and the licensee. As of the date the Company issued these consolidated financial statements, the Company did not complete its review of the Lincoln financial information and its fair value allocation of th e assets and liabilities under purchase price accounting. Therefore, it is impractical to provide the effect of this acquisition on a pro-forma basis and other required business combination disclosures. Pending Exchange: Denver, Colorado, And Los Angeles, California On July 1 0 , 2015 , the Company entered into an asset exchange agreement (“AEA”) with Bonneville International Corporation (“Bonneville”) to acquire a radio station in Los Angeles, California , together with additional consideration of approximately $ 5.0 million in exchange for four radio stations in Denver, Colorado. On July 17 , 2015 the Company entered into two time brokerage agreements (“ TBA s”) . Pursuant to these TBA s, on July 17, 2015 , the Company commenced operation of the Los Angeles station and Bonneville commenced operation of the Denver stations. During the period of the TBA s , the Company : ( i ) include s net revenues and station operating expenses associated with the Company’s operati on of the Los Angeles station in the Company’s consolidated financial statements; and (ii) excludes net revenues and station operating expenses associated with Bonneville’s operati on of the Denver stations in the Company’s consolidated financial statements. The Company will incur no TBA expense to Bonneville for operation of the Los Angeles station and will receive $ 0.3 million of monthly TBA income from Bonneville. The fair value of the assets to be acquired in exc hange for the assets to be disposed of will be determined at a future time based upon an appraisal. The Company do es not anticipate that cash will be required to complete the Company’s obligations under the AEA . Upon completion of the AEA , the Company will : (1) own one station in Los Angeles, a new market for the Company ; and (2) continue to own and operate five radio stations in the Denver market. The Company expect s that the AEA , which is subject to regulatory approval , will close in the second half of 2015 . The Denver radio stations to be exchanged with Bonneville did not qualify as assets held for sale as of June 30, 2015. These assets may qualify as assets held for sale as of September 30, 2015, however, if closing with Bonneville does not occur a s of September 30, 2015. T he pending sale of the Denver station s did not me e t the criteria to classify the stations ’ operations as discontinued, effective upon the commencement of the TBA. During the period of the T BA operated by the Company for those as sets to be acquired from Bonneville , it is expected that the Company will not recognize a variable interest entity (“VIE”). During this period, the Company will not be the primary beneficiary as Bonneville will be the entity absorb ing the majority of the p rofits and losses from the operation of the entity holding the Los Angeles, California radio station during the period of the TBA . During the period of the TBA for the trust assets operated by Bonneville, (KKFN FM), it is expected that the Company will deconsolidate the trust’s assets to be exchanged with Bonneville since Bonneville will remain as the primary beneficiary. As the primary beneficiary, Bonneville will absorb the majority of the profits and losses from the operation of the trust during the period of the TBA. During the period of the TBA for the assets operated by Bonneville other than the trust assets, (KYGO FM, KEPN AM and KOSI FM), it is expected that the Company will be the primary beneficiary and will be absorbing the majority of the p rofits and losses from those stations. Summary Of Completed Lincoln Transaction And Pending Bonneville Transaction By Radio Station Markets Radio Stations Transactions Los Angeles, CA KSWD FM Company acquires from Bonneville Denver, CO KOSI FM Company disposes to Bonneville Denver, CO KYGO FM; KEPN AM Company acquired from Lincoln and disposes to Bonneville Denver, CO KKFN FM The trust acquired from Lincoln and disposes to Bonneville Denver, CO KQKS FM; KRWZ AM Company acquired from Lincoln Atlanta, GA WSTR FM; WQXI AM Company acquired from Lincoln Miami, FL WAXY AM/FM; WLYF FM; WMXJ FM Company acquired from Lincoln San Diego, CA KBZT FM; KSON FM/KSOQ FM; KIFM FM Company acquired from Lincoln

SUBSEQUENT EVENTS (Block)

SUBSEQUENT EVENTS (Block)	6 Months Ended
	Jun. 30, 2015
Subsequent Events Abstract
Schedule Of Subsequent Events Text Block	11 . SUBSEQUENT EVENTS Events occurring after June 30, 2015 and through the date that these consolidated financial statements were issued were evaluated to ensure that any subsequent events that met the criteria for recognition have been included. One of these events is described below. The Company completed its transaction with Lincoln on July 16 , 2015 and entered into AEA and TBA agreements with Bonneville on July 10, 2015 and July 17, 2015, respectively, as described under Note 10 .

INTANGIBLE ASSETS AND GOODWIL18

INTANGIBLE ASSETS AND GOODWILL (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of the changes in broadcasting license	Broadcasting Licenses Carrying Amount June 30, June 30, 2015 2014 (amounts in thousands) Beginning of period balance as of January 1, $ 718,992 $ 718,542 Acquisitions 100 450 Ending period balance $ 719,092 $ 718,992
Schedule of assumptions and estimates for broadcasting licences impairment testing	Estimates And Assumptions Second Second Quarter Quarter 2015 2014 Discount rate 9.7% 9.6% Operating profit margin ranges expected for average stations in the markets where the Company operates 25% to 40% 25% to 40% Long-term revenue growth rate range of the Company's markets 1.5% to 2.0% 1.5% to 2.0%
Schedule of changes in goodwill	Goodwill Carrying Amount June 30, June 30, 2015 2014 (amounts in thousands) Goodwill balance before cumulative loss on impairment as of January 1, $ 164,465 $ 164,465 Accumulated loss on impairment as of January 1, (125,615) (125,615) Goodwill beginning balance after cumulative loss on impairment as of January 1, 38,850 38,850 Ending period balance $ 38,850 $ 38,850
Schedule of assumptions and estimates for goodwill impairment testing	Estimates And Assumptions Second Second Quarter Quarter 2015 2014 Discount rate 9.7% 9.6% Long-term revenue growth rate range of the Company's markets 1.5% to 2.0% 1.5% to 2.0% Market multiple used in the market valuation approach 7.5x to 8.0x 7.5x to 8.0x

OTHER CURRENT AND LONG-TERM LIA

OTHER CURRENT AND LONG-TERM LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2015
Other Liabilities Disclosure Abstract
Schedule of Accounts Payable and Accrued Liabilities	Other Current Liabilities June 30, December 31, 2015 2014 (amounts in thousands) Accrued compensation $ 6,349 $ 5,783 Accounts receivable credits 3,448 2,398 Advertiser obligations 1,214 928 Accrued interest payable 2,733 2,777 Other 2,005 1,613 Total other current liabilities $ 15,749 $ 13,499

LONG-TERM DEBT LIABILITIES (Tab

LONG-TERM DEBT LIABILITIES (Tables) - Jun. 30, 2015	Total	Total
Debt Disclosure [Abstract]
Schedule Of Net Interest Expense	Net Interest Expense Three Months Ended June 30, 2015 2014 (amounts in thousands) Interest expense $ 8,513 $ 8,689 Amortization of deferred financing costs 716 1,048 Amortization of original issue discount of senior notes 84 75 Total net interest expense $ 9,313 $ 9,812	Net Interest Expense Six Months Ended June 30, 2015 2014 (amounts in thousands) Interest expense $ 17,004 $ 17,432 Amortization of deferred financing costs 1,423 2,134 Amortization of original issue discount of senior notes 165 149 Total net interest expense $ 18,592 $ 19,715

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables) - Jun. 30, 2015	Total	Total
Disclosure Of Compensation Related Costs Sharebased Payments Abstract
Schedule Of Restricted Stock Units Market Based		Six Months Year Ended Ended June 30, December 31, 2015 2014 (amounts in thousands, except per share data) Reconciliation Of RSUs With Market Conditions Beginning of period balance 290 - Number of RSUs granted 165 290 Number of RSUs forfeited - - Number of RSUs vested (65) - End of period balance -65 390 290 Average fair value of RSUs issued with market conditions $ 8.39 $ 6.90
Schedule Of Other Options Dislcosure		Six Months Ended June 30, Option Exercise Data 2015 2014 (amounts in thousands) Intrinsic value of options exercised $ 72 $ 147 Tax benefit from options exercised (1) $ 27 $ 56 Cash received from exercise price of options exercised $ 31 $ 28
Stock Option Valuation Assumptions		Six Months Ended June 30, June 30, 2015 2014 Expected Volatility Term Structure (1) 34% to 39% 39% to 51% Risk-Free Interest Rate (2) 0.1% to 1.1% 0.1% to 0.4% Dividend Yield (3) 0.0% 0.0%
Schedule Of significant ranges of outstanding and exercisable options		Options Outstanding Options Exercisable Number Of Weighted Number Of Options Average Weighted Options Weighted Range Of Outstanding Remaining Average Exercisable Average Exercise Prices June 30, Contractual Exercise June 30, Exercise From To 2015 Life Price 2015 Price $ 1.34 $ 1.34 436,925 3.6 $ 1.34 436,925 $ 1.34 $ 2.02 $ 11.78 36,250 3.0 $ 9.54 36,250 $ 9.54 $ 1.34 $ 11.78 473,175 3.6 $ 1.97 473,175 $ 1.97
Schedule of recognized stock-based compensation expense	Three Months Ended June 30, 2015 2014 (amounts in thousands) Station operating expenses $ 368 $ 259 Corporate general and administrative expenses 1,062 1,026 Stock-based compensation expense included in operating expenses 1,430 1,285 Income tax benefit (1) 523 390 Net stock-based compensation expense $ 907 $ 895	Six Months Ended June 30, 2015 2014 (amounts in thousands) Station operating expenses $ 545 $ 395 Corporate general and administrative expenses 1,997 2,099 Stock-based compensation expense included in operating expenses 2,542 2,494 Income tax benefit (1) 936 743 Net stock-based compensation expense $ 1,606 $ 1,751
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest		Number Weighted Aggregate Of Weighted Average Intrinsic Restricted Average Remaining Value As Of Stock Purchase Contractual June 30, Period Ended Units Price Term (Years) 2015 RSUs outstanding as of: December 31, 2014 1,258,685 RSUs awarded 672,277 RSUs released (392,255) RSUs forfeited (45,623) RSUs outstanding as of: June 30, 2015 1,493,084 $ - 1.5 $ 17,051,019 RSUs vested and expected to vest as of: June 30, 2015 1,391,251 $ - 1.4 $ 14,958,724 RSUs exercisable (vested and deferred) as of: June 30, 2015 81,380 $ - - $ 929,360 Weighted average remaining recognition period in years 2.2 Unamortized compensation expense, net of estimated forfeitures $ 9,412,152
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding		Weighted Intrinsic Weighted Average Value Average Remaining As Of Number Of Exercise Contractual June 30, Period Ended Options Price Term (Years) 2015 Options outstanding as of: December 31, 2014 486,675 $ 2.11 Options granted - - Options exercised (8,750) 3.60 Options forfeited (3,750) 8.72 Options expired (1,000) 33.90 Options outstanding as of: June 30, 2015 473,175 $ 1.97 3.6 $ 4,476,674 Options vested and expected to vest as of: June 30, 2015 473,175 $ 1.97 3.6 $ 4,476,674 Options vested and exercisable as of: June 30, 2015 473,175 $ 1.97 3.6 $ 4,476,674 Weighted average remaining recognition period in years - Unamortized compensation expense, net of estimated forfeitures $ 13,632

NET INCOME PER COMMON SHARE (Ta

NET INCOME PER COMMON SHARE (Tables) - Jun. 30, 2015	Total	Total
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
Schedule of Earnings Per Share Reconciliation [Table Text Block]	Three Months Ended June 30, 2015 June 30, 2014 (amounts in thousands, except share and per share data) Net Income Net Income Net Income (Loss) Net Income (Loss) (Loss) Shares Per Share (Loss) Shares Per Share Basic net income (loss) per common share: $ 6,747 38,074,240 $ 0.18 $ 8,137 37,686,679 $ 0.22 Impact of dilutive equity awards 854,370 759,207 Diluted net income (loss) per common share: $ 6,747 38,928,610 $ 0.17 $ 8,137 38,445,886 $ 0.21	Six Months Ended June 30, 2015 June 30, 2014 (amounts in thousands, except share and per share data) Net Income Net Income Net Income (Loss) Net Income (Loss) (Loss) Shares Per Share (Loss) Shares Per Share Basic net income (loss) per common share: $ 6,654 38,071,049 $ 0.17 $ 9,500 37,681,004 $ 0.25 Impact of dilutive equity awards 955,831 834,068 Diluted net income (loss) per common share: $ 6,654 39,026,880 $ 0.17 $ 9,500 38,515,072 $ 0.25
Equity Award Impact Schedule	Three Months Ended June 30, Impact Of Equity Awards 2015 2014 (amounts in thousands, except per share data) Dilutive or anti-dilutive for all potentially dilutive equivalent shares dilutive dilutive Excluded shares as anti-dilutive under the treasury stock method: Options - 32 Price range of options: from $ - $ 10.74 Price range of options: to $ - $ 35.05 RSUs with service conditions 7 - Excluded RSUs with service and market conditions as market conditions not met 165 290 Excluded RSUs with service and performance conditions as performance conditions not met 8 3	Six Months Ended June 30, Impact Of Equity Awards 2015 2014 (amounts in thousands, except per share data) Dilutive or anti-dilutive for all potentially dilutive equivalent shares dilutive dilutive Excluded shares as anti-dilutive under the treasury stock method: Options - 33 Price range of options: from $ - $ 10.74 Price range of options: to $ - $ 35.05 RSUs with service conditions 6 - Excluded RSUs with service and market conditions as market conditions not met 165 290 Excluded RSUs with service and performance conditions as performance conditions not met 8 3

FAIR VALUE OF FINANCIAL INSTR23

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures Abstract
Schedule of recurring fair value measurements	Value Measurements At Reporting Date June 30, December 31, Description 2015 2014 (amounts in thousands) Liabilities Deferred compensation - Level 1 (1) $ 10,954 $ 11,017
Schedule Of Carrying Value Of Financial Instruments	June 30, December 31, 2015 2014 Carrying Fair Carrying Fair Value Value Value Value (amounts in thousands) Credit Facility (1) $ 260,500 $ 260,826 $ 262,000 $ 261,345 Senior Notes (2) $ 218,094 $ 234,451 $ 217,929 $ 237,134 Letters of credit (3) $ 670 $ 620

CONTINGENCIES, GUARANTOR ARRANG

CONTINGENCIES, GUARANTOR ARRANGEMENTS AND COMMITMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
Commitments And Contingencies Guarantor Disclosure [Abstract]
Schedule of Completed and Pending Transactions	Markets Radio Stations Transactions Los Angeles, CA KSWD FM Company acquires from Bonneville Denver, CO KOSI FM Company disposes to Bonneville Denver, CO KYGO FM; KEPN AM Company acquired from Lincoln and disposes to Bonneville Denver, CO KKFN FM The trust acquired from Lincoln and disposes to Bonneville Denver, CO KQKS FM; KRWZ AM Company acquired from Lincoln Atlanta, GA WSTR FM; WQXI AM Company acquired from Lincoln Miami, FL WAXY AM/FM; WLYF FM; WMXJ FM Company acquired from Lincoln San Diego, CA KBZT FM; KSON FM/KSOQ FM; KIFM FM Company acquired from Lincoln

INTANGIBLE ASSETS AND GOODWIL25

INTANGIBLE ASSETS AND GOODWILL (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)number	Jun. 30, 2014USD ($)number	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Changes in goodwill [Roll Forward]
Goodwill before cumulative loss on impairment					$ 164,465	$ 164,465
Accumulated loss on impairment					$ (125,615)	$ (125,615)
Beginning balance after cumulative loss on impairment			$ 38,850	$ 38,850
Loss on impairment during the year			0	0
Acquisition			0	0
Dispositions			0	0
Ending balance	$ 38,850	$ 38,850	38,850	38,850
Broadcasting License Impairment Testing [Member]
Estimates and assumptions used for impairment test [Line Items]
Discount rates	9.70%	9.60%
Broadcasting License Impairment Testing [Member] | Maximum
Estimates and assumptions used for impairment test [Line Items]
Operating profit margin ranges of the markets of the Company	40.00%	40.00%
Long-term revenue growth rate ranges of the markets of the Company	2.00%	2.00%
Broadcasting License Impairment Testing [Member] | Minimum
Estimates and assumptions used for impairment test [Line Items]
Operating profit margin ranges of the markets of the Company	25.00%	25.00%
Long-term revenue growth rate ranges of the markets of the Company	1.50%	1.50%
Goodwill Impairment Testing [Member]
Estimates and assumptions used for impairment test [Line Items]
Discount rates	9.70%	9.60%
Goodwill Impairment Testing [Member] | Maximum
Estimates and assumptions used for impairment test [Line Items]
Long-term revenue growth rate ranges of the markets of the Company	2.00%	2.00%
Market approach for step one goodwill analysis [Abstract]
Estimates of market multiples | number	8	8
Goodwill Impairment Testing [Member] | Minimum
Estimates and assumptions used for impairment test [Line Items]
Long-term revenue growth rate ranges of the markets of the Company	1.50%	1.50%
Market approach for step one goodwill analysis [Abstract]
Estimates of market multiples | number	7.5	7.5
Radio Broadcasting Licences [Member]
Changes in broadcasting licenses [Line Items]
Beginning of period balance			718,992	718,542
Impairment loss			0	0
Acquisition			100	450
Dispositions			0	0
Ending period balance	$ 719,092	$ 718,992	$ 719,092	$ 718,992

OTHER CURRENT AND LONG-TERM L26

OTHER CURRENT AND LONG-TERM LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accrued compensation	$ 6,349	$ 5,783
Accounts receivable credits	3,448	2,398
Derivative valuation - short-term	0	0
Advertiser obligations	1,214	928
Accrued interest payable	2,733	2,777
Other	2,005	1,613
Accrued compensation and other current liabilities	$ 15,749	$ 13,499

LONG-TERM DEBT LIABILITIES - Se

LONG-TERM DEBT LIABILITIES - Senior Debt (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total
Debt Instrument [Line Items]
Credit Facility	$ 425
Mandatory Prepayment Percentage	50.00%
Line of Credit Facility, Amount Outstanding	$ 260.5
Revolving Credit Facility
Debt Instrument [Line Items]
Credit Facility	50
Line of Credit Facility, Amount Outstanding	49.3
Term Loan B
Debt Instrument [Line Items]
Credit Facility	$ 375

LONG-TERM DEBT LIABILITIES - 28

LONG-TERM DEBT LIABILITIES - Senior Unsecured Debt (Details) - Dec. 31, 2011 - Senior Unsecured Debt - USD ($) $ in Millions	Total
Debt Instrument [Line Items]
Senior Notes	$ 220
Net Proceeds	212.7
Debt Instrument Original Issue Discount	2.9
Deferred Finance Costs, Current, Net	$ 6.1
Debt Instrument, Interest Rate, Stated Percentage	10.50%

LONG-TERM DEBT LIABILITIES - De

LONG-TERM DEBT LIABILITIES - Debt Extinguishment and Net Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Interest Expense
Interest expense	$ 8,513	$ 8,689	$ 17,004	$ 17,432
Amortization of deferred financing costs	716	1,048	1,423	2,134
Amortization of original issue discount of senior notes	84	75	165	149
Interest expense on interest rate hedging agreements	0	0	0	0
Interest income and other investment income	0	0	0	0
Total net interest expense	$ 9,313	$ 9,812	$ 18,592	$ 19,715

SHARE-BASED COMPENSATION - RSU

SHARE-BASED COMPENSATION - RSU Activity - Summary of Change (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015
Number of Restricted Stock Units [Roll Forward]
RSUs beginning	1,258,685
RSUs awarded	672,277
RSUs released	(392,255)
RSUs forfeited	(45,623)
RSUs ending	1,493,084
Weighted Average Purchase Price RSUs	$ 0
Weighted Average Remaining Contractual Term (Years) RSUs	1 year 6 months
Aggregate Intrinsic Value RSUs	$ 17,051,019
Number of RSUs vested and expected to vest	1,391,251
Weighted Average Purchase Price of RSUs vested and expected to vest	$ 0
Weighted Average Remaining Contractual Term (Years) of RUSs vested and expected to vest	1 year 4 months 24 days
Aggregate Intrinsic Value RSUs vested and expected to vest	$ 14,958,724
Number of RSUs exercisable	81,380
Weighted Average Purchase Price of RUSs exercisable	$ 0
Weighted Average Remaining Contractual Term (Years) of RUSs exercisable
Aggregate Intrinsic Value RSUs exercisable	$ 929,360
Weighted average remaining recognition period in years	2 years 2 months 12 days
Unamortized compensation expense, net of estimated forfeitures	$ 9,412,152

SHARE-BASED COMPENSATION - RSUs

SHARE-BASED COMPENSATION - RSUs with Market Conditions (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Share-based Compensation Restricted Stock Units With Market Conditions [Line Items]
RSUs issued	672,277
Reconciliation Of RSUs With Market Conditions [Abstract]
RSUs beginning	1,258,685
Number of RSUs granted	672,277
Number of RSUs forfeited	(45,623)
Number of RSUs vested	(392,255)
RSUs ending	1,493,084	1,258,685
Net RSUs increase (decrease) to APIC	$ 2,542	$ 5,232
Restricted Stock Units With Market Conditions [Member]
Share-based Compensation Restricted Stock Units With Market Conditions [Line Items]
RSUs issued	165,000	290,000
Reconciliation Of RSUs With Market Conditions [Abstract]
RSUs beginning	290,000
Number of RSUs granted	165,000	290,000
Number of RSUs forfeited	0	0
Number of RSUs vested	(65,000)	0
RSUs ending	390,000	290,000
Fair value of each RSU issued with market conditions	$ 8.39	$ 6.9
Restricted Stock Units With Performance Conditions [Member]
Reconciliation Of RSUs With Market Conditions [Abstract]
Average fair value of performance condition RSUs issued		$ 9.6

SHARE-BASED COMPENSATION - Othe

SHARE-BASED COMPENSATION - Other Options Disclosures (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Other Options Disclosures [Line Items]
Intrinsic value of options exercised	$ 72	$ 147
Tax benefit from options exercised, before impact of valuation allowance	27	56
Cash received from exercise price of options exercised	$ 31	$ 28

SHARE-BASED COMPENSATION - Opti

SHARE-BASED COMPENSATION - Options Activity (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015
Options activity [Roll Forward]
Options beginning	486,675
Options granted	0
Options exercised	(8,750)
Options forfeited	(3,750)
Options expired	(1,000)
Options ending	473,175
Weighted average exercise price - beginning	$ 2.11
Weighted average exercise price - options exercised	3.6
Weighted average exercise price - options forfeited	8.72
Weighted average exercise price - options expired	33.9
Weighted average exercise price - ending	$ 1.97
Weighted Average Remaining Contractual Term (Years) Options	3 years 7 months 6 days
Intrinsic Value Options	$ 4,476,674
Options vested and expected to vest	473,175
Options vested and exercisable	473,175
Weighted average exercise price options vested and expected to vest	$ 1.97
Weighted average exercise price options vested and exerciable	$ 1.97
Weighted average remaining contractual period (Years) options vested and expected to vest	3 years 7 months 6 days
Weighted average remaining contractual period (years) options vested and exercisable	3 years 7 months 6 days
Intrinsic value options vested and expected to vest	$ 4,476,674
Intrinsic value options vested and exercisable	$ 4,476,674
Weighted average remaining recognition period in years
Unamortized compensation expense, net of estimated forfeitures	$ 13,632

SHARE-BASED COMPENSATION - Valu

SHARE-BASED COMPENSATION - Valuation Method (Details)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Valuation Methodology [Abstract]
Expected volatility factor (%) - Minimum	34.00%	39.00%
Expected volatility factor (%) - Maximum	39.00%	51.00%
Risk-free interest rate (%) - Minimum	0.10%	0.10%
Risk-free interest rate (%) - Maximum	1.10%	0.40%
Expected dividend yield (%)	0.00%	0.00%

SHARE-BASED COMPENSATION - Ot35

SHARE-BASED COMPENSATION - Other Award Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Significant ranges of outstanding and exercisable options [Line Items]
Number of options outstanding	473,175		473,175		486,675
Weighted average remaining contractual life options outstanding			3 years 7 months 6 days
Weighted average exercise price options outstanding	$ 1.97		$ 1.97		$ 2.11
Number of options exercisable	473,175		473,175
Weighted average exercise price options exercisable	$ 1.97		$ 1.97
Recognized Non-Cash Compensation Expense [Line Items]
Total Non cash compensation expense recognized	$ 907	$ 895	$ 1,606	$ 1,751
Exercise prices from 1.34 to 1.34
Significant ranges of outstanding and exercisable options [Line Items]
Number of options outstanding	436,925		436,925
Weighted average remaining contractual life options outstanding			3 years 7 months 6 days
Weighted average exercise price options outstanding	$ 1.34		$ 1.34
Number of options exercisable	436,925		436,925
Weighted average exercise price options exercisable	$ 1.34		$ 1.34
Exercise prices from 2.02 to 11.78
Significant ranges of outstanding and exercisable options [Line Items]
Number of options outstanding	36,250		36,250
Weighted average remaining contractual life options outstanding			3 years
Weighted average exercise price options outstanding	$ 9.54		$ 9.54
Number of options exercisable	36,250		36,250
Weighted average exercise price options exercisable	$ 9.54		$ 9.54
Station operating expenses [Member]
Recognized Non-Cash Compensation Expense [Line Items]
Total Non cash compensation expense recognized	$ 368	259	$ 545	395
Corporate general and administrative expenses [Member]
Recognized Non-Cash Compensation Expense [Line Items]
Total Non cash compensation expense recognized	1,062	1,026	1,997	2,099
Stock-based compensation expense included in operating expenses [Member]
Recognized Non-Cash Compensation Expense [Line Items]
Total Non cash compensation expense recognized	1,430	1,285	2,542	2,494
Income tax benefit (net of a fully reserved valuation allowance for prior year) [Member]
Recognized Non-Cash Compensation Expense [Line Items]
Total Non cash compensation expense recognized	$ 523	$ 390	$ 936	$ 743

NET INCOME PER COMMON SHARE (De

NET INCOME PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Earnings Per Share, Basic and Diluted [Abstract]
Net Income (Loss) Attributable to Parent	$ 6,747	$ 8,137	$ 6,654	$ 9,500	$ 26,823
Weighted Average Number Of Shares Outstanding Basic	38,074,240	37,686,679	38,071,049	37,681,004
Earnings Per Share Basic	$ 0.18	$ 0.22	$ 0.17	$ 0.25
Incremental Common Shares Attributable to Share-based Payment Arrangements	854,370	759,207	955,831	834,068
Weighted Average Number Of Diluted Shares Outstanding	38,928,610	38,445,886	39,026,880	38,515,072
Earnings Per Share Diluted	$ 0.17	$ 0.21	$ 0.17	$ 0.25
Restricted Stock Units Service And Performance Conditions But Performance Not Met [Member]
Impact Of Equity Awards [Line Items]
Excluded shares as anti-dilutive under the treasury stock method	8,000	3,000	8,000	3,000
Options Activity [Member]
Impact Of Equity Awards [Line Items]
Excluded shares as anti-dilutive under the treasury stock method	0	32,000	0	33,000
Price range of option: from	$ 0	$ 10.74	$ 0	$ 10.74
Price range of option: to	$ 0	$ 35.05	$ 0	$ 35.05
Restricted Stock Units Activity [Member] | Restricted Stock Units Service Conditions [Member]
Impact Of Equity Awards [Line Items]
Excluded shares as anti-dilutive under the treasury stock method	7,000	0	6,000	0
Restricted Stock Units Activity [Member] | Restricted Stock Units Service And Market Conditions But Market Not Met [Member]
Impact Of Equity Awards [Line Items]
Excluded shares as anti-dilutive under the treasury stock method	165,000	290,000	165,000	290,000

INCOME TAXES - Expected And Rep

INCOME TAXES - Expected And Reported Income Taxes (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
Income taxes (benefit)	$ 4,555	$ 5,912	$ 4,622	$ 6,625
Effective income tax rate	40.30%	42.10%	41.00%	41.10%
Impairment loss	$ 0	$ 0	$ 0	$ 0

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Deferred tax liabilities:
Total net deferred tax liabilities	$ 65.8	$ 61.2

FAIR VALUE OF FINANCIAL INSTR39

FAIR VALUE OF FINANCIAL INSTRUMENTS - Recurring basis (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Inputs, Level 1 [Member]
Assets
Cash equivalents	$ 0
Liabilities
Deferred Compensation	10,954,000	$ 11,017,000
Fair Value, Inputs, Level 2 [Member]
Assets
Cash equivalents	$ 0

FAIR VALUE OF FINANCIAL INSTR40

FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying Value (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Credit Facility
Fair Value Of Instruments [Line Items]
Carrying value of debt	$ 260,500	$ 262,000
Fair value of debt	260,826	261,345
Senior Notes
Fair Value Of Instruments [Line Items]
Carrying value of debt	218,094	217,929
Fair value of debt	234,451	237,134
Finance Method Lease Obligations
Fair Value Of Instruments [Line Items]
Carrying value of debt	0	0
Letter of credit
Fair Value Of Instruments [Line Items]
Carrying value of debt	$ 670	$ 620

ASSETS HELD FOR SALE (Details)

ASSETS HELD FOR SALE (Details) $ in Millions	Jun. 30, 2015USD ($)
Assets Held-for-sale, at Carrying Value1 [Abstract]
Assets Held-for-sale, at Carrying Value	$ 0.9

ACQUISITIONS, DIVESTITURES AND

ACQUISITIONS, DIVESTITURES AND PRO FORMA SUMMARY (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
The expense recognized in the consolidated statement of income as merger and acquisition costs [Abstract]
Merger and acquisition period costs	$ 2,031,000	$ 0	$ 3,754,000	$ 0
Radio Broadcasting Licences [Member]
Purchase price allocation [Abstract]
Total intangible assets			100,000	$ 450,000
LFM [Member]
Acquisition [Line Items]
Acquisition price paid from borrowing	42,000,000		42,000,000
Purchases of radio station assets	(105,000,000)		(105,000,000)
Acquisition price paid using cash available from operating cash flow	77,500,000		77,500,000
Unaudited Pro Forma Summary Of Financial Information
Acquisition Price Paid Using Convertible Preferred Stock	27,500,000		27,500,000
Other Acquisition Considerations	2,700,000		2,700,000
BonnevilleSwap [Member]
Unaudited Pro Forma Summary Of Financial Information
Net Time Brokerage Agreement For Specific Aquisitions Annual Increase	300,000		300,000
Other Acquisition Considerations	$ 5,000,000		$ 5,000,000