Audacy (AUDAQ) 10-Q 5 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 20, 2016
Document Information [Line Items]
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
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		33,405,006
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, 2016	Dec. 31, 2015
Assets Abstract
Cash	$ 11,071	$ 9,169
Accounts receivable, net of allowance for doubtful accounts	91,312	87,157
Prepaid expenses, deposits and other	8,408	6,220
Prepaid and refundable federal and state income taxes	106	55
Deferred tax assets	3,464	3,464
Total current assets	114,361	106,065
Net property and equipment	55,875	57,993
Radio broadcasting licenses	807,416	807,381
Goodwill	32,629	32,629
Assets held for sale	0	6,106
Investment in deconsolidated subsidiaries	0	0
Deferred charges and other assets, net of accumulated amortization	4,540	5,471
TOTAL ASSETS	1,014,821	1,015,645
Liabilities Abstract
Accounts payable	105	73
Accrued expenses	15,827	16,772
Accrued compensation and other current liabilities	19,945	19,924
Financing method lease obligations, current portion	0	0
Long-term debt, current portion	29,150	31,832
Total current liabilities	65,027	68,601
Long-term debt, net of current portion	431,119	448,724
Deferred tax liabilities	89,883	81,643
Other long-term liabilities	27,495	27,608
Total long-term liabilities	548,497	557,975
Total liabilities	613,524	626,576
CONTINGENCIES AND COMMITMENTS
Perpetual Cumulative Convertible Preferred Stock	27,619	27,619
SHAREHOLDERS' EQUITY:
Preferred stock	0	0
Common stock	406	397
Additional paid-in capital	608,727	611,754
Accumulated deficit	(235,455)	(250,701)
Accumulated other comprehensive income (loss)	0	0
Total shareholders' equity	373,678	361,450
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,014,821	$ 1,015,645

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Common Stock, Value	$ 406	$ 397

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement Abstract
NET REVENUES	$ 120,478	$ 100,592	$ 216,581	$ 179,012
OPERATING EXPENSE:
Station operating expenses, including non-cash compensation expense	82,639	70,000	154,354	129,367
Depreciation and amortization expense	2,517	1,905	4,964	3,860
Corporate general and administrative expenses, including non-cash compensation expense	8,493	6,451	16,091	12,730
Impairment loss	0	0	62	0
Merger and acquisition costs and restructuring charges	0	2,031	0	3,754
Net time brokerage agreement (income) fees	0	0	0	0
Net (gain) loss on sale or disposal of assets	(755)	(410)	(1,219)	(567)
Total operating expense	92,894	79,977	174,252	149,144
OPERATING INCOME (LOSS)	27,584	20,615	42,329	29,868
OTHER (INCOME) EXPENSE:
Net interest expense	9,147	9,313	18,539	18,592
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	0	0	0
TOTAL OTHER EXPENSE	9,147	9,313	18,539	18,592
INCOME (LOSS) BEFORE INCOME TAXES (BENEFIT)	18,437	11,302	23,790	11,276
INCOME TAXES (BENEFIT)	7,603	4,555	8,544	4,622
NET INCOME (LOSS)	10,834	6,747	15,246	6,654
Preferred stock dividend	(412)	0	(825)	0
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS	$ 10,422	$ 6,747	$ 14,421	$ 6,654
NET INCOME (LOSS) PER SHARE - BASIC
NET INCOME (LOSS) PER SHARE - BASIC	$ 0.27	$ 0.18	$ 0.37	$ 0.17
NET INCOME (LOSS) PER SHARE - DILUTED
NET INCOME (LOSS) PER SHARE - DILUTED	0.26	0.17	0.37	0.17
DIVIDENDS DECLARED AND PAID PER COMMON SHARE	$ 0.075	$ 0	$ 0.075	$ 0
WEIGHTED AVERAGE SHARES:
Basic	38,468,822	38,074,240	38,462,998	38,071,049
Diluted	41,130,418	38,928,610	39,273,532	39,026,880

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, 2014		31,862,294	7,197,532
Compensation expense related to granting of restricted stock awards SHARES		738,195	0
Exercise of stock options SHARES		11,750	0
Purchase of vested employee restricted stock units SHARES		(131,688)	0
Ending Balance SHARES at Dec. 31, 2015		32,480,551	7,197,532
Opening Balance VALUE at Dec. 31, 2014	$ 329,021	$ 319	$ 72	$ 608,515	$ (279,885)
Net income (loss)	29,184				29,184
Compensation expense related to granting of restricted stock awards VALUE	5,524	7	0	5,517	0
Purchase of vested employee restricted stock units	(1,562)	(1)	0	(1,561)	0
Forfeitures of dividend equivalents VALUE	0	0	0	0	0
Realization of tax benefit for dividend equivalent payments VALUE	35	0	0	35	0
Preferred stock dividend	(752)			(752)
Ending Balance VALUE at Dec. 31, 2015	$ 361,450	$ 325	$ 72	611,754	(250,701)
Compensation expense related to granting of stock options SHARES	0
Compensation expense related to granting of restricted stock awards SHARES		1,107,635	0
Exercise of stock options SHARES	22,500	22,500	0
Purchase of vested employee restricted stock units SHARES		(227,171)	0
Ending Balance SHARES at Jun. 30, 2016		33,383,515	7,197,532
Net income (loss)	$ 15,246				15,246
Compensation expense related to granting of restricted stock awards VALUE	3,019	$ 11	$ 0	3,008	0
Purchase of vested employee restricted stock units	(2,193)	(2)	0	(2,191)	0
Payments of dividends VALUE	(2,886)	0	0	(2,886)	0
Forfeitures of dividend equivalents VALUE	(163)	0	0	(163)	0
Exercise of stock options VALUE	30	0	0	30	0
Preferred stock dividend	(825)	0	0	(825)	0
Ending Balance VALUE at Jun. 30, 2016	$ 373,678	$ 334	$ 72	$ 608,727	$ (235,455)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
OPERATING ACTIVITIES:
Net income (loss)	$ 15,246	$ 6,654
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	4,964	3,860
Amortization of deferred financing costs	1,503	1,588
Net deferred taxes (benefit) and other	8,544	4,622
Tax benefit on exercise of options	0	0
Provision for bad debts	743	564
Net (gain) loss on sale or disposal of assets	(1,219)	(567)
Non-cash stock-based compensation expense	3,019	2,542
Net (gain) loss on investments	0	0
Net (gain) loss on derivatives	0	0
Deferred rent	244	355
Unearned revenue - long-term	0	(10)
Net (gain) loss on extinguishment of debt	0	0
Deferred compensation	730	558
Tax benefit for vesting of restricted stock unit awards	0	0
Impairment loss	62	0
Net accretion expense for asset retirement obligations	12	7
Other income	0	0
Changes in assets and liabilities:
Accounts receivable	(4,898)	(4,082)
Prepaid expenses and deposits	(2,227)	(993)
Prepaid and refundable income taxes	0	0
Accounts payable and accrued liabilities	(442)	5,252
Accrued interest expense	(835)	(44)
Accrued liabilities - long-term	(1,188)	(1,050)
Prepaid expenses - long-term	340	656
Net cash provided by (used in) operating activities	24,598	19,912
INVESTING ACTIVITIES:
Additions to property and equipment	(2,038)	(4,744)
Proceeds from sale of property, equipment, intangibles and other assets	7,114	406
Purchases of radio station assets	0	0
Deferred charges and other assets	(151)	(462)
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	4,925	(4,800)
FINANCING ACTIVITIES:
Deferred financing expenses related to bank facility amendment	0	0
Proceeds from issuance of long-term debt	14,500	0
Proceeds from the financing method of lease obligations	102	0
Payments of long-term debt	(36,258)	(1,500)
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	30	31
Purchase of vested employee restricted stock units	(2,193)	(1,520)
Realization of tax benefits for payment of dividend equivalents	0	0
Payment of dividend equivalents on vested restricted stock units	(91)	0
Payment of dividends on common stock	(2,886)	0
Payment of fees associated with the issuance of preferred stock	0	0
Payments of dividends on preferred stock	(825)	0
Net cash provided by (used in) financing activities	(27,621)	(2,989)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,902	12,123
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	9,169	31,540
CASH AND CASH EQUIVALENTS, END OF PERIOD	11,071	43,663
Cash paid during the period for:
Interest	18,307	17,456
Income taxes	208	81
Dividends on common stock	2,886	0
Dividends on preferred stock	$ 825	$ 0

BASIS OF PRESENTATION AND ORGAN

BASIS OF PRESENTATION AND ORGANIZATION (Block)	6 Months Ended
	Jun. 30, 2016
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, 2015 and filed with the SEC on February 26, 2016 , 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, 2015 that was filed with the SEC on February 26, 2016 . 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 the ones 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, 2015 that was filed with the SEC on February 26, 2016 , that might have a material impact on the Company’s financial position, results of operations or cash flows. Stock-Based Compensation Simplification In March 2016, the accounting guidance for stock-based compensation was modified to reflect in the income statement the income tax effects of awards when stock-based awards vest. The guidance on employers’ accounting for an employee’s use of shares to satisfy the employer’s statutory income tax withholding obligation and for forfeitures is also changing. This guidanc e is effective for the Company as of January 1, 2017. The Company believes that: (1) the Company may recognize future income tax benefits that were previously not allowed to be recognized; and (2) the Company may increase the shares withheld upon the vest ing of RSUs in order to satisfy employees’ tax obligations. The impact of this guidance should not be material to the Company’s financial position , results of operations or cash flows. Leasing Transactions In February 2016, t he accounting guidance was modified to require that all leases with a term of more than one year, covering leased assets such as real estate, broadcasting towers and equipment, be reflected on the balance sheet as assets and liabilities for the rights and obligations created by these leases. While the Company is currently reviewing the effects of this guidance, the Company believes that this would result in: (1) an increase in the assets and liabilities reflected on the Company’s consolidated balance sheet s; and (2) an increase in the Company’s interest expense and depreciation and amortization expense and a decrease to the Company’s station operating expense reflected on its consolidated statements of operations. This guidance is effective for the Company as of January 1, 2019. Revenue Recognition In May 2014 the accounting guidance for revenue recognition was modified. Under the guidance, an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that refle cts the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer cont racts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The guidance will be applied using one of two retrospective methods. The guidance is effective for the Company as of January 1, 2018. The Company has not determined the potential effects of this guidance on its financial statements. The following accounting pronouncements were effective for the Company as of January 1, 2016. Business Combinations In September 2015, the accounting guidance for business combinations was modified to reflect measurement period adjustments to be recorded prospectively rather than retroactively to the assets and liabilities initially recorded under purchase price accounting. This guidance was effective for the Company as of January 1, 2016. This guidance did not have an impact on the Company’s financial position and results of operations, but could have an impact in a future period when an adjustment is recorded for a previously reported business combination. There should be no material impact to the Company’s cash flows. Cloud Computing Costs In April 2015, the accounting guidance was revised to identify when a cloud computing service includes a software license that is to be capi talized and treated consistently with the acquisition of other software licenses. This guidance was effective for the Company as of January 1, 2016. The adoption of this accounting guidance did not have any material effect on the Company’s results of oper ations, cash flows or financial position. 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 was effective for the Company as of January 1, 2016. The impact of this guidance was to reclassify debt issuance costs (other than those for line- of-credit arrangements) from other assets to the respective long-term debt liability for balance sheet presentation purposes only and had no impact on the Company’s results of operations, cash flows or financial position. In addition, certain reclassificat ions were recorded to the prior year’s balance sheet to conform to the presentation in the current year, which did not have a material impact on the Company’s previously reported financial statements. Consolidation In February 2015, the accounting gui dance for consolidation was amended which revises the analysis of and reduces the need to consolidate certain entities. This guidance was effective for the Company as of January 1, 2016. This accounting guidance did not have any material effect on the Comp any’s results of operations, cash flows or financial position. Extraordinary Items In January 2015, the accounting guidance was updated to eliminate the concept of an extraordinary item and the requirement to consider whether an underlying event or tran saction is extraordinary. If an item was considered extraordinary, it was presented in the income statement net of tax, after income from continuing operations. Eliminating the concept of extraordinary removes the uncertainty for the preparer as to whethe r the item had been treated properly. This guidance was effective for the Company as of January 1, 2016. The Company will apply this guidance prospectively to all applicable transactions. When applied, this guidance should have no impact to the Company’s cash flows or financial position as this only impacts the Company’s presentation of the Company’s results of operations. Derivatives And Hedging In November 2014, the accounting guidance was updated for determining whether the host contract in a hybrid financial instrument issued in the form of a share is more akin to debt or to equity. This update does not change the current criteria for determining when separation of certain embedded derivative features in a hybrid financial instrument is required, but clarifies how current accounting guidance should be interpreted in the evaluation of the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share, reducing existing diversity in practice. This guidance was effective for the Company as of January 1, 2016. The adoption of this accounting guidance did not have any material effect on the Company’s results of operations, cash flows or financial position. Stock-Based Performance Awards In June 2014, the accounting guidance was updated for stock-based awards when the terms of an award provide that a performance target that affects vesting could be achieved after the requisite service period. The current accounting standard for stock-base d compensation as it applies to awards with performance conditions should be applied. This guidance was effective for the Company as of January 1, 2016. The adoption of this accounting guidance did not have any material effect on the Company’s results of o perations, cash flows or financial position. Reclassifications Certain reclassifications have been made to the prior year’s financial statements to conform to the presentation in the current year (see accounting pronouncement on debt issuance costs) .

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Block)	6 Months Ended
	Jun. 30, 2016
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. They may be, however, 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 val ue is less than the carrying value of goodwill and certain intangibles (such as broadcasting licenses), then a charge is recorded to the results of operations. There was no material change in the carrying value of broadcasting licenses or goodwill since the year ended December 31, 2015 . 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 . During the second quarter of the current year and each of the past several years, 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 annual impairment test included the four new markets added during the second half of 2015. 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 2016 2015 Discount rate 9.5% 9.7% Operating profit margin ranges expected for average stations in the markets where the Company operates 14% to 40% 25% to 40% Long-term revenue growth rate range of the Company's markets 1.0% to 2.0% 1.5% to 2.0% 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 2016 2015 Discount rate 9.5% 9.7% Long-term revenue growth rate range of the Company's markets 1.0% 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 of the current year and i n each of the past several years, 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 C ompany 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, 2016
Other Liabilities Disclosure 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, 2016 2015 (amounts in thousands) Accrued compensation $ 8,249 $ 8,865 Accounts receivable credits 4,388 3,575 Advertiser obligations 1,434 1,198 Accrued interest payable 2,711 3,547 Other 3,163 2,739 Total other current liabilities $ 19,945 $ 19,924

LONG-TERM DEBT (Block)

LONG-TERM DEBT (Block)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt Disclosure Text Block	4 . LONG-TERM DEBT (A) Senior Debt The Credit Facility As of June 30, 2016 , the amount outstanding under the term loan component (the “Term B Loan”) of the Company’s senior secured credit facility (the “Credit Facility ”) was $ 230.0 million and the amount outstanding under the revolving credit facility (the “Revolver”) of the Credit Facility was $ 17.0 million. The amount available under the Revolver, which includes the impact of outstanding letters of credit, was $ 22.3 million as of June 30, 2016 . On November 23, 2011, the Company entered into a credit agreement with a syndicate of lenders for a $ 425 million Credit Facility that was initially comprised of: (a) a $ 50 million Revolver (reduced to $ 40 million in December 2015) that matures on November 23, 2016; and (b) a $ 375 million Term B Loan that matures on November 23, 2018. Long-term debt, which excludes deferred financing expense on the Revolver, was comprised of the following: Long-Term Debt June 30, December31, 2016 2015 (amounts in thousands) Credit Facility Revolver, due November 23, 2016 $ 17,000 $ 26,000 Term B Loan, due November 23, 2018 230,000 242,750 247,000 268,750 Senior Notes 10.5% senior unsecured notes, due December 1, 2019 220,000 220,000 Unamortized original issue discount (1,547) (1,731) 218,453 218,269 Other Debt Capital lease and other 94 - Total debt before deferred financing costs 465,547 487,019 Current amount of long-term debt (29,150) (31,832) Deferred financing costs (excluding Revolver) (5,278) (6,463) Total long-term debt, net of current debt $ 431,119 $ 448,724 Outstanding standby letter of credit $ 670 $ 670 The Term B Loan requires mandatory prepayments equal to a percentage of Excess Cash Flow , which is defined within the agreement and is subject to incremental step-downs de pending on the Consolidated Leverage Ratio . The payment, which is currently estimated at 25 % of Excess Cash Flow, is due in the first quarter of each year for the prior year and is included under the current portion of long-term debt, net of any prepayments made throu gh June 30, 2016 . The Company expects to fund the payment using cash from operating activities. A s of June 30, 2016 , 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 under the Credit Facility 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 t hat it is adequate to fund the Company’s operating needs. Management believes that the Company can meet its liquidity requirements over the next 12 months, including its debt repaym ents. 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 rat es on its debt. As of June 30, 2016 , the Company’s Consolidated Leverage Ratio was 3.9 times versus a covenant limit of 4.5 times and the Consolidated Interest Coverage Ratio was 3.4 times versus a covenant minimu m of 2.0 times . ( B ) Senior Unsecured Debt The Senior Notes The Senior Notes may be redeemed at any time at a redemption price of 105.25 % of the principal amount plus accrued interest. The redemption price decreases December 1, 2016 and December 1, 2017 to 102.625 % and 100.0 %, respectively. O n November 23, 2011 , the Company issued $ 220.0 million of 10.5 % unsecured Senior Notes which matu re 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, 2016 2015 (amounts in thousands) Interest expense $ 17,057 $ 17,004 Amortization of deferred financing costs 1,319 1,423 Amortization of original issue discount of senior notes 184 165 Interest income and other investment income (21) - Total net interest expense $ 18,539 $ 18,592 Net Interest Expense Three Months Ended June 30, 2016 2015 (amounts in thousands) Interest expense $ 8,435 $ 8,513 Amortization of deferred financing costs 631 716 Amortization of original issue discount of senior notes 93 84 Interest income and other investment income (12) - Total net interest expense $ 9,147 $ 9,313

SHAREHOLDERS' EQUITY (Block)

SHAREHOLDERS' EQUITY (Block)	6 Months Ended
	Jun. 30, 2016
Stockholders Equity Note Abstract
Stockholders Equity Note Disclosure Text Block	11 . SHAREHOLDERS’ EQUITY Dividends During the second quarter of 2016, the Company commenced a quarterly common stock dividend program of $ 0.075 per share and paid $ 2.9 million. Any future dividends will be at the discretion of the Board of Directors based upon the relevant factors at the time of such consideration, including, without limitation, compliance with the restrictions set forth in the Company’s Credit Facility and the indenture governing the Senior Notes. The Company paid divid ends of $ 0.4 million on its perpetual cumulative convertible preferred stock in each of the first two quarters of 2016. Dividend Equivalents The Company’s grants of RSUs include the right, upon vesting, to receive a cash payment equal to the aggregate amount of dividends, if any, that holders would have received on the shares of common stock underlying their RSUs if such RSUs had been vested during the period. The fol lowing table presents the amounts accrued and unpaid on unvested RSUs: Dividend Equivalent Liabilities Balance Sheet June 30, December 31, Location 2016 2015 (amounts in thousands) Short-term Other current liabilities $ 44 $ - Long-term Other long-term liabilities 238 210 total $ 282 $ 210 Employee Stock Purchase Plan The Company adopted an employee stock purchase plan (“ESPP”) during the second quarter of 2016 that commenced with the third quarter of 2016. The ESPP will allow participants to purchase the Company’s stock at a discount and will consist of four quarterly offering periods during each year. The maximum number of shares authorized to be issued under the ESPP is 1.0 million.

SHARE-BASED COMPENSATION (Block

SHARE-BASED COMPENSATION (Block)	6 Months Ended
	Jun. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments Abstract
Disclosure Of Compensation Related Costs Share Based Payments Text Block	6. 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) 2016 RSUs outstanding as of: December 31, 2015 1,590,417 RSUs awarded 1,116,585 RSUs released (595,717) RSUs forfeited (8,950) RSUs outstanding as of: June 30, 2016 2,102,335 $ - 1.9 $ 28,528,686 RSUs vested and expected to vest as of: June 30, 2016 1,905,785 $ - 1.9 $ 25,198,200 RSUs exercisable (vested and deferred) as of: June 30, 2016 48,880 $ - - $ 663,302 Weighted average remaining recognition period in years 2.7 Unamortized compensation expense, net of estimated forfeitures $ 14,079,435 RSUs With Service And Market Conditions T he Company issued RSUs with service and market conditions that are included in the table above. 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 ne ed to be satisfied. These RSUs are amortized over the longest of the explicit, implicit or derived service periods, which range from one to three years. The following table presents the changes in outstanding RSUs with market conditions: Six Months Year Ended Ended June 30, December 31, 2016 2015 (amounts in thousands, except per share data) Reconciliation Of RSUs With Market Conditions Beginning of period balance 390 290 Number of RSUs granted 470 165 Number of RSUs forfeited - - Number of RSUs vested (225) (65) End of period balance 635 390 Weighted average fair value of RSUs granted with market conditions $ 7.34 $ 8.39 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 these valuations are as follows: Six Months Year Ended Ended June 30, December 31, 2016 2015 Expected Volatility Term Structure (1) 35% to 45% 34% to 39% Risk-Free Interest Rate (2) 0.4% to 1.1% 0.1% to 1.1% Quarterly Dividend Payment As A Constant (3) $ 0.075 $ 0.00 RSUs With Service And Performance Conditions In addition to the RSUs included in the table above summarizing the activity in RSUs under the Plan, the Company issued RSUs with both service and performance conditions. 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 cas e-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 as sessment 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. The following table reflects the activity of RSUs with service and performance condit ions: Six Months Year Ended Ended June 30, December 31, 2016 2015 (amounts in thousands, except per share data) Reconciliation Of RSUs With Service And Performance Conditions Beginning of period balance 29 8 Number of RSUs granted - 21 Number of RSUs that did not meet criteria (8) - Number of RSUs vested - - End of period balance 21 29 Average fair value of RSUs granted with performance conditions $ - $ 11.11 As of June 30, 2016 , no non-cash compensation expense was recognized for RSUs with performance conditions . Option Activity The following table provides summary information related to the exercise of stock options: Six Months Ended June 30, Option Exercise Data 2016 2015 (amounts in thousands) Intrinsic value of options exercised $ 238 $ 72 Tax benefit from options exercised (1) $ 92 $ 27 Cash received from exercise price of options exercised $ 30 $ 31 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) 2016 Options outstanding as of: December 31, 2015 466,925 $ 1.93 Options granted - - Options exercised (22,500) 1.34 Options forfeited - Options expired (3,125) Options outstanding as of: June 30, 2016 441,300 $ 1.96 2.6 $ 5,123,485 Options vested and expected to vest as of: June 30, 2016 441,300 $ 1.96 2.6 $ 5,123,485 Options vested and exercisable as of: June 30, 2016 441,300 $ 1.96 2.6 $ 5,123,485 Weighted average remaining recognition period in years - Unamortized compensation expense, net of estimated forfeitures $ 7,066 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 2016 Life Price 2016 Price $ 1.34 $ 1.34 407,675 2.6 $ 1.34 407,675 $ 1.34 $ 2.02 $ 11.78 33,625 2.2 $ 9.48 33,625 $ 9.48 $ 1.34 $ 11.78 441,300 2.6 $ 1.96 441,300 $ 1.96 Recognized Non-Cash Stock-Based Compensation Expense The following non-cash stock-based compensation expense, which is related primarily to RSUs, is included in each of the respective line items in our statement of operations: Six Months Ended June 30, 2016 2015 (amounts in thousands) Station operating expenses $ 590 $ 545 Corporate general and administrative expenses 2,429 1,997 Stock-based compensation expense included in operating expenses 3,019 2,542 Income tax benefit (1) 1,083 936 Net stock-based compensation expense $ 1,936 $ 1,606 Three Months Ended June 30, 2016 2015 (amounts in thousands) Station operating expenses $ 363 $ 368 Corporate general and administrative expenses 1,174 1,062 Stock-based compensation expense included in operating expenses 1,537 1,430 Income tax benefit (1) 531 523 Net stock-based compensation expense $ 1,006 $ 907

NET INCOME (LOSS) PER COMMON SH

NET INCOME (LOSS) PER COMMON SHARE (Block)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share Abstract
Earnings Per Share Text Block	5. NET INCOME (LOSS) PER COMMON SHARE T he following tables present the computations of basic and diluted net income (loss) per share: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 (amounts in thousands except per share data) Basic Income (Loss) Per Share Numerator Net income (loss) available to the Company $ 10,834 $ 6,747 $ 15,246 $ 6,654 Preferred stock dividends 412 - 825 - Net income (loss) available to common shareholders $ 10,422 $ 6,747 $ 14,421 $ 6,654 Denominator Basic weighted average shares outstanding 38,469 38,074 38,463 38,071 Basic net income (loss) per share available to common shareholders $ 0.27 $ 0.18 $ 0.37 $ 0.17 Diluted Income (Loss) Per Share Numerator Net income (loss) available to the Company $ 10,834 $ 6,747 $ 15,246 $ 6,654 Preferred stock dividends - - 825 - Net income (loss) available to common shareholders $ 10,834 $ 6,747 $ 14,421 $ 6,654 Denominator Basic weighted average shares outstanding 38,469 38,074 38,463 38,071 Effect of RSUs and options under the treasury stock method 738 855 811 956 Preferred stock under the as if converted method 1,923 - - - Diluted weighted average shares outstanding 41,130 38,929 39,274 39,027 Diluted net income (loss) per share available to common shareholders $ 0.26 $ 0.17 $ 0.37 $ 0.17 Disclosure Of Anti-Dilutive Shares The following table provides those shares excluded as they were anti-dilutive: Three Months Ended Six Months Ended June 30, June 30, Impact Of Equity Issuances 2016 2015 2016 2015 (amounts in thousands, except per share data) Shares excluded as anti-dilutive under the treasury stock method: Options - - 13 - Price range of options: from $ - $ - $ 11.36 $ - Price range of options: to $ - $ - $ 11.78 $ - RSUs with service conditions - - 7 - 6 RSUs excluded with service and market conditions as market conditions not met 628 165 628 165 RSUs excluded with service and performance conditions as performance conditions not met 21 8 21 8 Perpetual cumulative convertible preferred stock treated as anti-dilutive under the as if method - - 1,923 -

INCOME TAXES (Block)

INCOME TAXES (Block)	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure Abstract
Income Tax Disclosure Text Block	7. INCOME TAXES Tax Rates For The Six Months And Three Months Ended June 30, 2016 T he effective income tax rates were 35.9 % and 41.2 % for the six months and three months ended June 30, 2016 , respectively. These rates were impacted by discrete income tax benefits from recent legislation in certain single member states that allowed for: (1) the reversal of partial valuation allowances; and (2) a retroactive decrease in deferred tax liabilities associated with non-amortizable assets such as broadc asting licenses and goodwill. The income tax rate was also impacted by income tax expense from: (i) an increase in deferred tax liabilities associated with non-amortizable assets such as broadcasting licenses and goodwill; (ii) an adjustment for expenses t hat are not deductible for tax purposes; and (iii) a tax benefit shortfall associated with share-based awards. Tax Rates For The Six Months And Three Months Ended June 30, 2015 The 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 , a n increase in net deferred tax liabilities associated with non-amort izable assets such as broadcasting licenses and goodwill and a tax benefit shortfall associated with stock-based awards. Net Deferred Tax Assets And Liabilities As of June 30, 2016 and December 31, 2015 , net deferred tax liabilities were $ 86.4 million and $ 78.2 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, 2016
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 2016 2015 (amounts in thousands) Liabilities Deferred compensation - Level 1 (1) $ 10,154 $ 10,137 (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, 2016 and 2015 , the Company reviewed the fair value of its broadcasting licenses, goodwill and net property and equipment and other intangibles, and concluded that these assets were not impaired as the fair value of these assets equaled or exceeded 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, 2016 2015 Carrying Fair Carrying Fair Value Value Value Value (amounts in thousands) Term B Loan (1) $ 230,000 $ 230,288 $ 242,750 $ 242,447 Revolver (2) $ 17,000 $ 17,000 $ 26,000 $ 26,000 Senior Notes (3) $ 218,453 $ 230,468 $ 218,269 $ 227,000 Other debt (4) $ 94 $ - Letters of credit (5) $ 670 $ 670 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 Term B Loan 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 fair value of the Revolver is considered to approximate the carrying value as the interest payments are based on LIBOR rates that reset periodically. The Revolver is considered a Level 2 measurement as the pricing inputs are other than quoted prices in active markets . (3) 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 Seni or Notes are traded in the debt securities market. The Senior Notes are considered a Level 2 measurement as the pricing inputs are other than quoted prices in active markets . (4) The Company does not believe it is practicable to estimate the fair value of the other debt. ( 5 ) The Company does not believe it is practicable to estimate the fair value of the outstanding standby letter s of credit.

ACQUISITIONS AND OTHER (Block)

ACQUISITIONS AND OTHER (Block)	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Mergers Acquisitions And Dispositions Disclosures Text Block	9. BUSINESS COMBINATIONS The Company consummated acquisitions under the purchase method of accounting, and the purchase price was allocated to the assets and liabilities based upon their respective fair values as determined as of the acquisition date. Merger and acquisition costs are excluded from the purchase price as these costs are expensed for book purposes and amortized for tax purposes. There were no acquisitions during the six months ended June 30, 2016 . Disposition In March 2016, the Company sold certain assets of KRWZ AM in Denver, Colorado, for $ 3.8 million in cash. The Company believes that the sale of this station, with a marginal market share, will not alter the Company’s competitive position in the market. The Company reported a gain, net of expenses, of $ 0.3 million on the disposition of these assets. Merger And Acquisition Costs And Restructuring Charges Merger and acquisition costs and restructuring charges were expensed as a separate line item in the statement of operations. These costs consisted primarily of legal, professional and advisory services as well as restructuring costs (as identified below) related to the Company’s integration of its acquisitions in 2015. The restructuring plan included : (1) costs associated with exiting contractual vendor ob ligations as these obligations were duplicative; (2) a workforce reduction and realignment charges that included one-time termination benefits and related costs ; and (3) lease abandonment costs . The lease abandonment costs are longer-term as the lease exp ires in June 2026. The estimated amount of unpaid restructuring charges as of June 30, 2016 , after excluding the lease abandonment liability as of June 30, 2016 , w as included in accrued expenses as most expenses are expected to be paid within one year . Six Months Ended June 30, 2016 2015 (amounts in thousands) Restructuring charges Costs to exit duplicative contracts $ - $ - Workforce reduction - - Lease abandonment costs - - Changes in estimates - - Total restructuring charges - - - Merger and acquisition costs - 3,754 Total merger & acquisition costs and restructuring charges $ - $ 3,754 Six Months Year Ended Ended June 30, December 31, 2016 2015 (amounts in thousands) Restructuring charges, beginning balance $ 1,686 $ - Additions to reserves through accruals - 2,858 Deductions from reserves through payments (684) (1,172) Restructuring charges unpaid and outstanding 1,002 1,686 Less lease abandonment costs over a long-term period (687) (687) Short-term restructuring charges unpaid and outstanding $ 315 $ 999 Unaudited Pro Forma Summary Of Financial Information The following pro forma information presents the consolidated results of operations as if the business combinations in 2015 had occurred as of January 1, 2014 , after giving effect to certain adjustments, including : (1) depreciation and amortization of assets ; (2 ) amortization of unfavorable contracts related to the fair value adjustments of the assets acquired; ( 3) change in the effective tax rate; (4) interest expense on any debt incurred ; (5 ) merger and acquisition costs and restructuring charges; and (6) accrued dividends on perpetual cumulative convertible preferred stock . For purposes of this presentation , the pro forma data : (a) excludes certain radio stations that were acquired and immed iately disposed as the Company never operated these stations and does not expect to operate these stations at a future time; and (b) ex clude s a radio station disposed and previously owned and operated by the Company as these assets were a ke y component of the assets acquired . In addition, there was no adjustment to the pro forma information for the AM station in Denver, Colorado, that was disposed of in 2016. These unaudited pro forma results have been prepared for comparative purposes only a nd do not purport to be indicative of what would have occurred had the acquisitions been made as of that date or results which may occur in the future. Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Actual Pro Forma Actual Pro Forma Net revenues $ 120,478 $ 115,277 $ 216,581 $ 206,412 Net income (loss) available to the Company $ 10,834 $ 7,301 $ 15,246 $ 7,838 Net income (loss) available to common shareholders $ 10,422 $ 6,751 $ 14,421 $ 6,738 Net income (loss) available to common shareholders per common share - basic $ 0.27 $ 0.18 $ 0.37 $ 0.18 Net income (loss) available to common shareholders per common share - diluted $ 0.26 $ 0.17 $ 0.37 $ 0.17 Weighted shares outstanding basic 38,469 38,074 38,463 38,071 Weighted shares outstanding diluted 41,130 38,929 39,274 39,027 Conversion of preferred stock for dilutive purposes under the as if method dilutive anti-dilutive anti-dilutive anti-dilutive

CONTINGENCIES AND COMMITMENTS (

CONTINGENCIES AND COMMITMENTS (Block)	6 Months Ended
	Jun. 30, 2016
Commitments And Contingencies Disclosure Abstract
Commitments And Contingencies Disclosure Text Block	12. 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 February 26, 2016 .

ASSETS HELD FOR SALE (Block)

ASSETS HELD FOR SALE (Block)	6 Months Ended
	Jun. 30, 2016
Discontinued Operations And Disposal Groups Abstract
Disposal Groups Including Discontinued Operations Disclosure Text Block	10. 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. During the six months ended June 30, 2016 , the Company disposed of the following assets that were previously reflected as held for sale as of December 31, 2015: (1) an AM radio station in Denver, Colorado, that resulted in a gain on disposal of assets of $ 0.3 million; (2) land, building and a tower at a tower/antenna site sold to a government agency at carrying value; and (3) 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 , that resulted in a gain on disposal of assets of $ 0.7 million.

SUBSEQUENT EVENTS (Block)

SUBSEQUENT EVENTS (Block)	6 Months Ended
	Jun. 30, 2016
Subsequent Events Abstract
Schedule Of Subsequent Events Text Block	13. SUBSEQUENT EVENTS Events occurring after June 30, 2016 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.

INTANGIBLE ASSETS AND GOODWIL20

INTANGIBLE ASSETS AND GOODWILL (Tables)	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of assumptions and estimates for broadcasting licences impairment testing	Estimates And Assumptions Second Second Quarter Quarter 2016 2015 Discount rate 9.5% 9.7% Operating profit margin ranges expected for average stations in the markets where the Company operates 14% to 40% 25% to 40% Long-term revenue growth rate range of the Company's markets 1.0% to 2.0% 1.5% to 2.0%
Schedule of assumptions and estimates for goodwill impairment testing	Estimates And Assumptions Second Second Quarter Quarter 2016 2015 Discount rate 9.5% 9.7% Long-term revenue growth rate range of the Company's markets 1.0% 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, 2016
Other Liabilities Disclosure Abstract
Schedule of Accounts Payable and Accrued Liabilities	Other Current Liabilities June 30, December 31, 2016 2015 (amounts in thousands) Accrued compensation $ 8,249 $ 8,865 Accounts receivable credits 4,388 3,575 Advertiser obligations 1,434 1,198 Accrued interest payable 2,711 3,547 Other 3,163 2,739 Total other current liabilities $ 19,945 $ 19,924

LONG-TERM DEBT LIABILITIES (Tab

LONG-TERM DEBT LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Debt	Long-Term Debt June 30, December31, 2016 2015 (amounts in thousands) Credit Facility Revolver, due November 23, 2016 $ 17,000 $ 26,000 Term B Loan, due November 23, 2018 230,000 242,750 247,000 268,750 Senior Notes 10.5% senior unsecured notes, due December 1, 2019 220,000 220,000 Unamortized original issue discount (1,547) (1,731) 218,453 218,269 Other Debt Capital lease and other 94 - Total debt before deferred financing costs 465,547 487,019 Current amount of long-term debt (29,150) (31,832) Deferred financing costs (excluding Revolver) (5,278) (6,463) Total long-term debt, net of current debt $ 431,119 $ 448,724 Outstanding standby letter of credit $ 670 $ 670
Schedule Of Net Interest Expense	Net Interest Expense Six Months Ended June 30, 2016 2015 (amounts in thousands) Interest expense $ 17,057 $ 17,004 Amortization of deferred financing costs 1,319 1,423 Amortization of original issue discount of senior notes 184 165 Interest income and other investment income (21) - Total net interest expense $ 18,539 $ 18,592 Net Interest Expense Three Months Ended June 30, 2016 2015 (amounts in thousands) Interest expense $ 8,435 $ 8,513 Amortization of deferred financing costs 631 716 Amortization of original issue discount of senior notes 93 84 Interest income and other investment income (12) - Total net interest expense $ 9,147 $ 9,313

SHAREHOLDER'S EQUITY (Tables)

SHAREHOLDER'S EQUITY (Tables)	6 Months Ended
	Jun. 30, 2016
Stockholders Equity Note Abstract
Schedule of dividends payable on unvested restricted stock units	Dividend Equivalent Liabilities Balance Sheet June 30, December 31, Location 2016 2015 (amounts in thousands) Short-term Other current liabilities $ 44 $ - Long-term Other long-term liabilities 238 210 total $ 282 $ 210

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments Abstract
Schedule Of Restricted Stock Units Market Based	Six Months Year Ended Ended June 30, December 31, 2016 2015 (amounts in thousands, except per share data) Reconciliation Of RSUs With Market Conditions Beginning of period balance 390 290 Number of RSUs granted 470 165 Number of RSUs forfeited - - Number of RSUs vested (225) (65) End of period balance 635 390 Weighted average fair value of RSUs granted with market conditions $ 7.34 $ 8.39
Schedule Of Other Options Dislcosure	Six Months Ended June 30, Option Exercise Data 2016 2015 (amounts in thousands) Intrinsic value of options exercised $ 238 $ 72 Tax benefit from options exercised (1) $ 92 $ 27 Cash received from exercise price of options exercised $ 30 $ 31
Stock Option Valuation Assumptions	Six Months Year Ended Ended June 30, December 31, 2016 2015 Expected Volatility Term Structure (1) 35% to 45% 34% to 39% Risk-Free Interest Rate (2) 0.4% to 1.1% 0.1% to 1.1% Quarterly Dividend Payment As A Constant (3) $ 0.075 $ 0.00
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 2016 Life Price 2016 Price $ 1.34 $ 1.34 407,675 2.6 $ 1.34 407,675 $ 1.34 $ 2.02 $ 11.78 33,625 2.2 $ 9.48 33,625 $ 9.48 $ 1.34 $ 11.78 441,300 2.6 $ 1.96 441,300 $ 1.96
Schedule of recognized stock-based compensation expense	Six Months Ended June 30, 2016 2015 (amounts in thousands) Station operating expenses $ 590 $ 545 Corporate general and administrative expenses 2,429 1,997 Stock-based compensation expense included in operating expenses 3,019 2,542 Income tax benefit (1) 1,083 936 Net stock-based compensation expense $ 1,936 $ 1,606 Three Months Ended June 30, 2016 2015 (amounts in thousands) Station operating expenses $ 363 $ 368 Corporate general and administrative expenses 1,174 1,062 Stock-based compensation expense included in operating expenses 1,537 1,430 Income tax benefit (1) 531 523 Net stock-based compensation expense $ 1,006 $ 907
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) 2016 RSUs outstanding as of: December 31, 2015 1,590,417 RSUs awarded 1,116,585 RSUs released (595,717) RSUs forfeited (8,950) RSUs outstanding as of: June 30, 2016 2,102,335 $ - 1.9 $ 28,528,686 RSUs vested and expected to vest as of: June 30, 2016 1,905,785 $ - 1.9 $ 25,198,200 RSUs exercisable (vested and deferred) as of: June 30, 2016 48,880 $ - - $ 663,302 Weighted average remaining recognition period in years 2.7 Unamortized compensation expense, net of estimated forfeitures $ 14,079,435
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) 2016 Options outstanding as of: December 31, 2015 466,925 $ 1.93 Options granted - - Options exercised (22,500) 1.34 Options forfeited - Options expired (3,125) Options outstanding as of: June 30, 2016 441,300 $ 1.96 2.6 $ 5,123,485 Options vested and expected to vest as of: June 30, 2016 441,300 $ 1.96 2.6 $ 5,123,485 Options vested and exercisable as of: June 30, 2016 441,300 $ 1.96 2.6 $ 5,123,485 Weighted average remaining recognition period in years - Unamortized compensation expense, net of estimated forfeitures $ 7,066
Schedule Of Restricted Stock Units Performance Based [Text Block]	Six Months Year Ended Ended June 30, December 31, 2016 2015 (amounts in thousands, except per share data) Reconciliation Of RSUs With Service And Performance Conditions Beginning of period balance 29 8 Number of RSUs granted - 21 Number of RSUs that did not meet criteria (8) - Number of RSUs vested - - End of period balance 21 29 Average fair value of RSUs granted with performance conditions $ - $ 11.11

NET INCOME PER COMMON SHARE (Ta

NET INCOME PER COMMON SHARE (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
Schedule of Earnings Per Share Reconciliation [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 (amounts in thousands except per share data) Basic Income (Loss) Per Share Numerator Net income (loss) available to the Company $ 10,834 $ 6,747 $ 15,246 $ 6,654 Preferred stock dividends 412 - 825 - Net income (loss) available to common shareholders $ 10,422 $ 6,747 $ 14,421 $ 6,654 Denominator Basic weighted average shares outstanding 38,469 38,074 38,463 38,071 Basic net income (loss) per share available to common shareholders $ 0.27 $ 0.18 $ 0.37 $ 0.17 Diluted Income (Loss) Per Share Numerator Net income (loss) available to the Company $ 10,834 $ 6,747 $ 15,246 $ 6,654 Preferred stock dividends - - 825 - Net income (loss) available to common shareholders $ 10,834 $ 6,747 $ 14,421 $ 6,654 Denominator Basic weighted average shares outstanding 38,469 38,074 38,463 38,071 Effect of RSUs and options under the treasury stock method 738 855 811 956 Preferred stock under the as if converted method 1,923 - - - Diluted weighted average shares outstanding 41,130 38,929 39,274 39,027 Diluted net income (loss) per share available to common shareholders $ 0.26 $ 0.17 $ 0.37 $ 0.17
Equity Award Impact Schedule	Three Months Ended Six Months Ended June 30, June 30, Impact Of Equity Issuances 2016 2015 2016 2015 (amounts in thousands, except per share data) Shares excluded as anti-dilutive under the treasury stock method: Options - - 13 - Price range of options: from $ - $ - $ 11.36 $ - Price range of options: to $ - $ - $ 11.78 $ - RSUs with service conditions - - 7 - 6 RSUs excluded with service and market conditions as market conditions not met 628 165 628 165 RSUs excluded with service and performance conditions as performance conditions not met 21 8 21 8 Perpetual cumulative convertible preferred stock treated as anti-dilutive under the as if method - - 1,923 -

FAIR VALUE OF FINANCIAL INSTR26

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures Abstract
Schedule of recurring fair value measurements	Value Measurements At Reporting Date June 30, December 31, Description 2016 2015 (amounts in thousands) Liabilities Deferred compensation - Level 1 (1) $ 10,154 $ 10,137
Schedule Of Carrying Value Of Financial Instruments	June 30, December 31, 2016 2015 Carrying Fair Carrying Fair Value Value Value Value (amounts in thousands) Term B Loan (1) $ 230,000 $ 230,288 $ 242,750 $ 242,447 Revolver (2) $ 17,000 $ 17,000 $ 26,000 $ 26,000 Senior Notes (3) $ 218,453 $ 230,468 $ 218,269 $ 227,000 Other debt (4) $ 94 $ - Letters of credit (5) $ 670 $ 670

ACQUISITIONS, DIVESTITURES AND

ACQUISITIONS, DIVESTITURES AND PRO FORMA SUMMARY (Tables)	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Schedule of merger and acquisition costs	Six Months Ended June 30, 2016 2015 (amounts in thousands) Restructuring charges Costs to exit duplicative contracts $ - $ - Workforce reduction - - Lease abandonment costs - - Changes in estimates - - Total restructuring charges - - - Merger and acquisition costs - 3,754 Total merger & acquisition costs and restructuring charges $ - $ 3,754
Schedule of unaudited pro forma summary of financial information	Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Actual Pro Forma Actual Pro Forma Net revenues $ 120,478 $ 115,277 $ 216,581 $ 206,412 Net income (loss) available to the Company $ 10,834 $ 7,301 $ 15,246 $ 7,838 Net income (loss) available to common shareholders $ 10,422 $ 6,751 $ 14,421 $ 6,738 Net income (loss) available to common shareholders per common share - basic $ 0.27 $ 0.18 $ 0.37 $ 0.18 Net income (loss) available to common shareholders per common share - diluted $ 0.26 $ 0.17 $ 0.37 $ 0.17 Weighted shares outstanding basic 38,469 38,074 38,463 38,071 Weighted shares outstanding diluted 41,130 38,929 39,274 39,027 Conversion of preferred stock for dilutive purposes under the as if method dilutive anti-dilutive anti-dilutive anti-dilutive
ScheduleOfRestructuringReserveByTypeOfCostTextBlock	Six Months Year Ended Ended June 30, December 31, 2016 2015 (amounts in thousands) Restructuring charges, beginning balance $ 1,686 $ - Additions to reserves through accruals - 2,858 Deductions from reserves through payments (684) (1,172) Restructuring charges unpaid and outstanding 1,002 1,686 Less lease abandonment costs over a long-term period (687) (687) Short-term restructuring charges unpaid and outstanding $ 315 $ 999

INTANGIBLE ASSETS AND GOODWIL28

INTANGIBLE ASSETS AND GOODWILL (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2016USD ($)number	Jun. 30, 2015number
Changes in goodwill [Roll Forward]
Ending balance | $	$ 32,629
Broadcasting License Impairment Testing [Member]
Estimates and assumptions used for impairment test [Line Items]
Discount rates	9.50%	9.70%
Broadcasting License Impairment Testing [Member] | Maximum [Member]
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 [Member]
Estimates and assumptions used for impairment test [Line Items]
Operating profit margin ranges of the markets of the Company	14.00%	25.00%
Long-term revenue growth rate ranges of the markets of the Company	1.00%	1.50%
Goodwill Impairment Testing [Member]
Estimates and assumptions used for impairment test [Line Items]
Discount rates	9.50%	9.70%
Goodwill Impairment Testing [Member] | Maximum [Member]
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	8	8
Goodwill Impairment Testing [Member] | Minimum [Member]
Estimates and assumptions used for impairment test [Line Items]
Long-term revenue growth rate ranges of the markets of the Company	1.00%	1.50%
Market approach for step one goodwill analysis [Abstract]
Estimates of market multiples	7.5	7.5

OTHER CURRENT AND LONG-TERM L29

OTHER CURRENT AND LONG-TERM LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accrued compensation	$ 8,249	$ 8,865
Accounts receivable credits	4,388	3,575
Derivative valuation - short-term	0	0
Advertiser obligations	1,434	1,198
Accrued interest payable	2,711	3,547
Other	3,163	2,739
Accrued compensation and other current liabilities	$ 19,945	$ 19,924

LONG-TERM DEBT LIABILITIES (Det

LONG-TERM DEBT LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total	$ 465,547	$ 487,019
Current amount of long-term debt	(29,150)	(31,832)
Unamortized original issue discount	(1,547)	(1,731)
Total long-term debt	431,119	448,724
Outstanding standby letter of credit	$ 670	670
Stated interest rate percentage, senior unsecured debt	10.50%
Revolver, due November 23, 2016
Debt Instrument [Line Items]
Credit Facility	$ 17,000	26,000
Term B Loan, due November 23, 2018
Debt Instrument [Line Items]
Credit Facility	230,000	242,750
Unsecured notes due December 1, 2019
Debt Instrument [Line Items]
Senior unsecured notes	220,000	220,000
Capital Lease Obligations
Debt Instrument [Line Items]
Other	94	0
Total Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility	247,000	268,750
Net Senior Notes Outstanding [Member]
Debt Instrument [Line Items]
Senior unsecured notes	218,453	218,269
Deferred Financing Costs [Member]
Debt Instrument [Line Items]
Total	$ (5,278)	$ (6,463)

LONG-TERM DEBT LIABILITIES - Se

LONG-TERM DEBT LIABILITIES - Senior Debt (Details) $ in Millions	Jun. 30, 2016USD ($)number
Debt Instrument [Line Items]
Credit Facility	$ 425
Consolidated Leverage Ratio	3.9
Consolidated Interest Coverage Ratio | number	3.4
Mandatory Prepayment Percentage	25.00%
Minimum [Member]
Debt Instrument [Line Items]
Consolidated Interest Coverage Ratio | number	2
Maximum [Member]
Debt Instrument [Line Items]
Consolidated Leverage Ratio	4.5
Revolving Credit Facility
Debt Instrument [Line Items]
Undrawn amount of the Revolver	$ 22.3
Line of Credit Facility, Amount Outstanding	17
Revolving Credit Facility | Minimum [Member]
Debt Instrument [Line Items]
Credit Facility	40
Revolving Credit Facility | Maximum [Member]
Debt Instrument [Line Items]
Credit Facility	50
Term Loan B
Debt Instrument [Line Items]
Credit Facility	375
Line of Credit Facility, Amount Outstanding	$ 230

LONG-TERM DEBT LIABILITIES - 32

LONG-TERM DEBT LIABILITIES - Senior Unsecured Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2011	Jun. 30, 2016
Debt Instrument [Line Items]
Redemption of the principal amount		105.25%
Debt Instrument, Interest Rate, Stated Percentage		10.50%
Senior Unsecured Debt
Debt Instrument [Line Items]
Senior Notes	$ 220
Net Proceeds	212.7
Debt Instrument Original Issue Discount	2.9
Redemption of the principal amount		105.25%
Deferred Finance Costs, Current, Net	$ 6.1
Senior Unsecured Debt | After December 1, 2017
Debt Instrument [Line Items]
Redemption of the principal amount		100.00%
Senior Unsecured Debt | On Or After December 1, 2016 [Member]
Debt Instrument [Line Items]
Redemption of the principal amount		102.625%

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, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net Interest Expense
Interest expense	$ 8,435	$ 8,513	$ 17,057	$ 17,004
Amortization of deferred financing costs	631	716	1,319	1,423
Amortization of original issue discount of senior notes	93	84	184	165
Interest expense on interest rate hedging agreements	0	0	0	0
Interest income and other investment income	(12)	0	(21)	0
Total net interest expense	$ 9,147	$ 9,313	$ 18,539	$ 18,592

SHAREHOLDER'S EQUITY (Details)

SHAREHOLDER'S EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Dividends And Shares Activitiy [Line Items]
Dvidend Equivalent liability - short term	$ 44		$ 44		$ 0
Dvidend Equivalent liability - long term	238		238		210
Total Dividend Equivalent Liability	282		282		210
Dividend payments			2,886	$ 0
Amount recorded as financing activity			$ (2,193)	$ (1,520)	$ (1,562)
Dividends paid on preferred stock	$ 400	$ 400
Dividends Payable Amount Per Share	$ 0.075		$ 0.075
Employee stock purchase plan, authorized shares	1		1

SHARE-BASED COMPENSATION - RSU

SHARE-BASED COMPENSATION - RSU Activity - Summary of Change (Details)	6 Months Ended
	Jun. 30, 2016USD ($)$ / sharesshares
Number of Restricted Stock Units [Roll Forward]
RSUs beginning	1,590,417
RSUs awarded	1,116,585
RSUs released	(595,717)
RSUs forfeited	(8,950)
RSUs ending	2,102,335
Weighted Average Purchase Price RSUs | $ / shares	$ 0
Weighted Average Remaining Contractual Term (Years) RSUs	1 year 10 months 24 days
Aggregate Intrinsic Value RSUs | $	$ 28,528,686
Number of RSUs vested and expected to vest	1,905,785
Weighted Average Purchase Price of RSUs vested and expected to vest | $ / shares	$ 0
Weighted Average Remaining Contractual Term (Years) of RUSs vested and expected to vest	1 year 10 months 24 days
Aggregate Intrinsic Value RSUs vested and expected to vest | $	$ 25,198,200
Number of RSUs exercisable	48,880
Weighted Average Purchase Price of RUSs exercisable | $ / shares	$ 0
Weighted Average Remaining Contractual Term (Years) of RUSs exercisable	0 years
Aggregate Intrinsic Value RSUs exercisable | $	$ 663,302
Weighted average remaining recognition period in years	2 years 8 months 12 days
Unamortized compensation expense, net of estimated forfeitures | $	$ 14,079,435

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, 2016	Dec. 31, 2015
Share-based Compensation Restricted Stock Units With Market Conditions [Line Items]
RSUs issued	1,116,585
Reconciliation Of RSUs With Market Conditions [Abstract]
RSUs beginning	1,590,417
Number of RSUs granted	1,116,585
Number of RSUs forfeited	(8,950)
Number of RSUs vested	(595,717)
RSUs ending	2,102,335	1,590,417
Net RSUs increase (decrease) to APIC	$ 3,019	$ 5,524
Restricted Stock Units With Market Conditions [Member]
Share-based Compensation Restricted Stock Units With Market Conditions [Line Items]
RSUs issued	470,000	165,000
Reconciliation Of RSUs With Market Conditions [Abstract]
RSUs beginning	390,000	290,000
Number of RSUs granted	470,000	165,000
Number of RSUs forfeited	0	0
Number of RSUs vested	(225,000)	(65,000)
RSUs ending	635,000	390,000
Fair value of each RSU issued with market conditions	$ 7.34	$ 8.39
Restricted Stock Units With Market Conditions [Member] | Maximum [Member]
Reconciliation Of RSUs With Market Conditions [Abstract]
RSUs beginning	29,000
RSUs ending		29,000
Restricted Stock Units With Performance Conditions [Member]
Share-based Compensation Restricted Stock Units With Market Conditions [Line Items]
RSUs issued	0	21,000
Reconciliation Of RSUs With Market Conditions [Abstract]
RSUs beginning	29,000	8,000
Number of RSUs granted	0	21,000
Number of RSUs forfeited	(8,000)	0
Number of RSUs vested	0	0
RSUs ending	21,000	29,000
Fair value of each RSU issued with market conditions	$ 0	$ 11.11

SHARE-BASED COMPENSATION - Othe

SHARE-BASED COMPENSATION - Other Options Disclosures (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Other Options Disclosures [Line Items]
Intrinsic value of options exercised	$ 238	$ 72
Tax benefit from options exercised, before impact of valuation allowance	92	27
Cash received from exercise price of options exercised	$ 30	$ 31

SHARE-BASED COMPENSATION - Opti

SHARE-BASED COMPENSATION - Options Activity (Details)	6 Months Ended
	Jun. 30, 2016USD ($)$ / sharesshares
Options activity [Roll Forward]
Options beginning	466,925
Options granted	0
Options exercised	(22,500)
Options forfeited	0
Options expired	(3,125)
Options ending	441,300
Weighted average exercise price - beginning | $ / shares	$ 1.93
Weighted average exercise price - options exercised | $ / shares	1.34
Weighted average exercise price - options forfeited | $ / shares	0
Weighted average exercise price - options expired | $ / shares	0
Weighted average exercise price - ending | $ / shares	$ 1.96
Weighted Average Remaining Contractual Term (Years) Options	2 years 7 months 6 days
Intrinsic Value Options | $	$ 5,123,485
Options vested and expected to vest	441,300
Options vested and exercisable	441,300
Weighted average exercise price options vested and expected to vest | $ / shares	$ 1.96
Weighted average exercise price options vested and exerciable | $ / shares	$ 1.96
Weighted average remaining contractual period (Years) options vested and expected to vest	2 years 7 months 6 days
Weighted average remaining contractual period (years) options vested and exercisable	2 years 7 months 6 days
Intrinsic value options vested and expected to vest | $	$ 5,123,485
Intrinsic value options vested and exercisable | $	$ 5,123,485
Weighted average remaining recognition period in years	0 years
Unamortized compensation expense, net of estimated forfeitures | $	$ 7,066

SHARE-BASED COMPENSATION - Valu

SHARE-BASED COMPENSATION - Valuation Method (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Valuation Methodology [Abstract]
Expected volatility factor (%) - Minimum	35.00%	34.00%
Expected volatility factor (%) - Maximum	45.00%	39.00%
Risk-free interest rate (%) - Minimum	0.40%	0.10%
Risk-free interest rate (%) - Maximum	1.10%	1.10%
Expected dividend yield (%)	7.50%	0.00%

SHARE-BASED COMPENSATION - Ot40

SHARE-BASED COMPENSATION - Other Award Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Significant ranges of outstanding and exercisable options [Line Items]
Number of options outstanding	441,300		441,300		466,925
Weighted average remaining contractual life options outstanding			2 years 7 months 6 days
Weighted average exercise price options outstanding	$ 1.96		$ 1.96		$ 1.93
Number of options exercisable	441,300		441,300
Weighted average exercise price options exercisable	$ 1.96		$ 1.96
Recognized Non-Cash Compensation Expense [Line Items]
Total Non cash compensation expense recognized	$ 1,006	$ 907	$ 1,936	$ 1,606
Exercise prices from 1.34 to 1.34
Significant ranges of outstanding and exercisable options [Line Items]
Number of options outstanding	407,675		407,675
Weighted average remaining contractual life options outstanding			2 years 7 months 6 days
Weighted average exercise price options outstanding	$ 1.34		$ 1.34
Number of options exercisable	407,675		407,675
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	33,625		33,625
Weighted average remaining contractual life options outstanding			2 years 2 months 12 days
Weighted average exercise price options outstanding	$ 9.48		$ 9.48
Number of options exercisable	33,625		33,625
Weighted average exercise price options exercisable	$ 9.48		$ 9.48
Station operating expenses [Member]
Recognized Non-Cash Compensation Expense [Line Items]
Total Non cash compensation expense recognized	$ 363	368	$ 590	545
Corporate general and administrative expenses [Member]
Recognized Non-Cash Compensation Expense [Line Items]
Total Non cash compensation expense recognized	1,174	1,062	2,429	1,997
Stock-based compensation expense included in operating expenses [Member]
Recognized Non-Cash Compensation Expense [Line Items]
Total Non cash compensation expense recognized	1,537	1,430	3,019	2,542
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	$ 531	$ 523	$ 1,083	$ 936

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, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Impact Of Equity Awards [Line Items]
Excluded shares as anti-dilutive when reporting loss			0	0
Earnings Per Share, Basic and Diluted [Abstract]
Net Income (Loss) Attributable to Parent	$ 10,834	$ 6,747	$ 15,246	$ 6,654	$ 29,184
Preferred stock dividend	412	0	825	0	$ 752
Net Income (Loss) Available to Common Stockholders, Basic	$ 10,422	$ 6,747	$ 14,421	$ 6,654
Weighted Average Number Of Shares Outstanding Basic	38,468,822	38,074,240	38,462,998	38,071,049
Earnings Per Share Basic	$ 0.27	$ 0.18	$ 0.37	$ 0.17
Incremental Common Shares Attributable to Share-based Payment Arrangements	738,000	855,000	811,000	956,000
Weighted Average Number Of Diluted Shares Outstanding	41,130,418	38,928,610	39,273,532	39,026,880
Earnings Per Share Diluted	$ 0.26	$ 0.17	$ 0.37	$ 0.17
Preferred stock under if converted method	1,923,000	0	0	0
Restricted Stock Units Service Conditions [Member]
Impact Of Equity Awards [Line Items]
Excluded shares as anti-dilutive under the treasury stock method	0	7,000	0	6,000
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	21,000	8,000	21,000	8,000
Perpetual Cumulative Convertible Preferred Stock [Member]
Impact Of Equity Awards [Line Items]
Excluded shares as anti-dilutive under the treasury stock method	0	0	1,923,000	0
Options Activity [Member]
Impact Of Equity Awards [Line Items]
Excluded shares as anti-dilutive under the treasury stock method	0	0	13,000	0
Price range of option: from	$ 0	$ 0	$ 11.36	$ 0
Price range of option: to	$ 0	$ 0	$ 11.78	$ 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	628,000	165,000	628,000	165,000

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, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
Income taxes (benefit)	$ 7,603	$ 4,555	$ 8,544	$ 4,622
Effective income tax rate	41.20%	40.30%	35.90%	41.00%
Impairment loss	$ 0	$ 0	$ 62	$ 0

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Deferred tax liabilities:
Deferred Tax Assets (Liabilities), Net	$ 86.4	$ 78.2

FAIR VALUE OF FINANCIAL INSTR44

FAIR VALUE OF FINANCIAL INSTRUMENTS - Recurring basis (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Inputs, Level 1 [Member]
Assets
Cash equivalents	$ 0
Liabilities
Deferred Compensation	10,154,000	$ 10,137,000
Fair Value, Inputs, Level 2 [Member]
Assets
Cash equivalents	$ 0

FAIR VALUE OF FINANCIAL INSTR45

FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying Value (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Senior Notes
Fair Value Of Instruments [Line Items]
Carrying value of debt	$ 218,453	$ 218,269
Fair value of debt	230,468	227,000
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	670
Revolver, due November 23, 2016 [Member]
Fair Value Of Instruments [Line Items]
Carrying value of debt	17,000	26,000
Fair value of debt	17,000	26,000
Term Loan B [Member]
Fair Value Of Instruments [Line Items]
Carrying value of debt	230,000	242,750
Fair value of debt	230,288	242,447
Other Debt [Member]
Fair Value Of Instruments [Line Items]
Carrying value of debt	$ 94	$ 0

ACQUISITIONS, DIVESTITURES AN46

ACQUISITIONS, DIVESTITURES AND PRO FORMA SUMMARY (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Acquisition [Line Items]
Payments to Acquire Businesses, Gross			$ 0	$ 0
Purchase price allocation [Abstract]
Property Plant And Equipment Net	$ 55,875		55,875		$ 57,993
The expense recognized in the consolidated statement of income as merger and acquisition costs [Abstract]
Merger and acquisition costs	0		0		$ 3,754
Merger and acquisition costs and restructuring charges	0	$ 2,031	0	3,754
Restructuring Charges			0
Unaudited Pro Forma Summary Of Financial Information
Net revenues	120,478	115,277	216,581	206,412
Net income	$ 10,834	$ 7,301	$ 15,246	$ 7,838
Net income per common share - basic	$ 0.27	$ 0.18	$ 0.37	$ 0.18
Net income per common share - diluted	$ 0.26	$ 0.17	$ 0.37	$ 0.17
Net income, available to common shareholders	$ 10,422	$ 6,751	$ 14,421	$ 6,738
Adjustment [Member]
The expense recognized in the consolidated statement of income as merger and acquisition costs [Abstract]
Restructuring Charges			0
Lease abandonment expense [Member]
The expense recognized in the consolidated statement of income as merger and acquisition costs [Abstract]
Restructuring Charges			0
Cost Of Terminating Contracts [Member]
The expense recognized in the consolidated statement of income as merger and acquisition costs [Abstract]
Restructuring Charges			0
One Time Termination Expenses [Member]
The expense recognized in the consolidated statement of income as merger and acquisition costs [Abstract]
Restructuring Charges			0
LFM [Member]
The expense recognized in the consolidated statement of income as merger and acquisition costs [Abstract]
Merger and acquisition costs and restructuring charges			0	$ 3,754
KRWZAM [Member]
Unaudited Pro Forma Summary Of Financial Information
Expected gain on sale of station			300
ProceedsFromDivestitureOfBusinesses			3,800
Belinder [Member]
Unaudited Pro Forma Summary Of Financial Information
Expected gain on sale of station			$ 700

BUSINESS COMBINATIONS - Accrued

BUSINESS COMBINATIONS - Accrued Restructuring (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Restructuring Reserve [Abstract]
Restructuring charges, beginning balance	$ 1,686	$ 0
IncreaseDecreaseInRestructuringReserve	0	2,858
PaymentsForRestructuring	(684)	(1,172)
Restructuring charges, ending balance	1,002	1,686
RestructuringReserveNoncurrent	(687)	(687)
Restructuring Reserve Current	$ 315	$ 999