Audacy (AUDAQ) 10-Q 8 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 24, 2016
Document Information [Line Items]
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
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		33,412,985
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	Sep. 30, 2016	Dec. 31, 2015
Assets Abstract
Cash	$ 9,908	$ 9,169
Accounts receivable, net of allowance for doubtful accounts	91,417	87,157
Prepaid expenses, deposits and other	8,225	6,220
Prepaid and refundable federal and state income taxes	0	55
Deferred tax assets	3,464	3,464
Total current assets	113,014	106,065
Net property and equipment	55,380	57,993
Radio broadcasting licenses	807,381	807,381
Goodwill	32,718	32,629
Assets held for sale	630	6,106
Investment in deconsolidated subsidiaries	0	0
Deferred charges and other assets, net of accumulated amortization	7,768	5,471
TOTAL ASSETS	1,016,891	1,015,645
Liabilities Abstract
Accounts payable	55	73
Accrued expenses	16,249	16,772
Accrued compensation and other current liabilities	25,935	19,924
Financing method lease obligations, current portion	0	0
Long-term debt, current portion	6,640	31,832
Total current liabilities	48,879	68,601
Long-term debt, net of current portion	432,271	448,724
Deferred tax liabilities	97,583	81,643
Other long-term liabilities	27,079	27,608
Total long-term liabilities	556,933	557,975
Total liabilities	605,812	626,576
CONTINGENCIES AND COMMITMENTS
Perpetual Cumulative Convertible Preferred Stock	27,732	27,619
SHAREHOLDERS' EQUITY:
Preferred stock	0	0
Common stock	406	397
Additional paid-in capital	606,976	611,754
Accumulated deficit	(224,035)	(250,701)
Accumulated other comprehensive income (loss)	0	0
Total shareholders' equity	383,347	361,450
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,016,891	$ 1,015,645

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Sep. 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement Abstract
NET REVENUES	$ 120,457	$ 114,662	$ 337,038	$ 293,674
OPERATING EXPENSE:
Station operating expenses, including non-cash compensation expense	82,905	81,241	237,259	210,608
Depreciation and amortization expense	2,488	2,219	7,452	6,079
Corporate general and administrative expenses, including non-cash compensation expense	8,797	6,960	24,888	19,690
Impairment loss	0	0	62	0
Merger and acquisition costs and restructuring charges	670	1,978	670	5,732
Net time brokerage agreement (income) fees	0	(745)	0	(745)
Net (gain) loss on sale or disposal of assets	(91)	(150)	(1,310)	(717)
Total operating expense	94,769	91,503	269,021	240,647
OPERATING INCOME (LOSS)	25,688	23,159	68,017	53,027
OTHER (INCOME) EXPENSE:
Net interest expense	9,014	9,731	27,553	28,323
Net (gain) loss on extinguishment of debt			0	0
TOTAL OTHER (INCOME) EXPENSE	(2,299)	0	(2,299)	0
INCOME (LOSS) BEFORE INCOME TAXES (BENEFIT)	18,973	13,428	42,763	24,704
INCOME TAXES (BENEFIT)	7,553	4,986	16,097	9,608
NET INCOME (LOSS)	11,420	8,442	26,666	15,096
Preferred stock dividend	(526)	(339)	(1,351)	(339)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS	$ 10,894	$ 8,103	$ 25,315	$ 14,757
NET INCOME (LOSS) PER SHARE - BASIC
NET INCOME (LOSS) PER SHARE - BASIC	$ 0.28	$ 0.21	$ 0.66	$ 0.39
NET INCOME (LOSS) PER SHARE - DILUTED
NET INCOME (LOSS) PER SHARE - DILUTED	0.28	0.21	0.64	0.38
DIVIDENDS DECLARED AND PAID PER COMMON SHARE	$ 0.075	$ 0	$ 0.15	$ 0
WEIGHTED AVERAGE SHARES:
Basic	38,484,578	38,075,922	38,457,061	38,073,525
Diluted	41,433,200	38,912,829	39,373,988	39,006,981

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		1,092,510	0
Issuance of common stock related to an incentive plan SHARES		17,665	0
Exercise of stock options SHARES	29,500	29,500	0
Purchase of vested employee restricted stock units SHARES		(228,008)	0
Ending Balance SHARES at Sep. 30, 2016		33,392,218	7,197,532
Net income (loss)	$ 26,666				26,666
Compensation expense related to granting of restricted stock awards VALUE	4,660	$ 11	$ 0	4,649	0
Issuance of common stock related to an incentive plan VALUE	194	0	0	194
Purchase of vested employee restricted stock units	(2,205)	(2)	0	(2,203)	0
Payments of dividends VALUE	(5,772)	0	0	(5,772)	0
Forfeitures of dividend equivalents VALUE	(447)	0	0	(447)	0
Exercise of stock options VALUE	39	0	0	39	0
Preferred stock dividend	(1,238)	0	0	(1,238)	0
Ending Balance VALUE at Sep. 30, 2016	$ 383,347	$ 334	$ 72	$ 606,976	$ (224,035)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
OPERATING ACTIVITIES:
Net income (loss)	$ 26,666	$ 15,096
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	7,452	6,079
Amortization of deferred financing costs	2,209	2,404
Net deferred taxes (benefit) and other	16,097	9,608
Tax benefit on exercise of options	0	0
Provision for bad debts	1,129	918
Net (gain) loss on sale or disposal of assets	(1,310)	(717)
Non-cash stock-based compensation expense	4,660	4,097
Net (gain) loss on investments	0	0
Net (gain) loss on derivatives	0	0
Deferred rent	208	480
Unearned revenue - long-term	0	(10)
Net (gain) loss on extinguishment of debt	0	0
Deferred compensation	1,471	(22)
Tax benefit for vesting of restricted stock unit awards	0	0
Impairment loss	62	0
Net accretion expense for asset retirement obligations	23	13
Changes in assets and liabilities:
Accounts receivable	(5,390)	(6,500)
Prepaid expenses and deposits	(2,044)	46
Prepaid and refundable income taxes	0	0
Accounts payable and accrued liabilities	(192)	5,159
Accrued interest expense	4,749	5,788
Accrued liabilities - long-term	(1,639)	(326)
Prepaid expenses - long-term	(3,166)	660
Net cash provided by (used in) operating activities	50,985	42,773
INVESTING ACTIVITIES:
Additions to property and equipment	(4,316)	(5,974)
Proceeds from sale of property, equipment, intangibles and other assets	7,118	406
Purchases of radio station assets	(92)	(81,652)
Deferred charges and other assets	(223)	(913)
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	2,487	(88,133)
FINANCING ACTIVITIES:
Deferred financing expenses related to bank facility amendment	0	0
Proceeds from issuance of long-term debt	21,500	42,000
Proceeds from the financing method of lease obligations	102	0
Payments of long-term debt	(65,262)	(17,250)
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	194	0
Proceeds from the exercise of stock options	39	35
Purchase of vested employee restricted stock units	(2,205)	(1,527)
Realization of tax benefits for payment of dividend equivalents	0	0
Payment of dividend equivalents on vested restricted stock units	(91)	(7)
Payment of dividends on common stock	(5,772)	0
Payment of fees associated with the issuance of preferred stock	0	(220)
Payments of dividends on preferred stock	(1,238)	0
Net cash provided by (used in) financing activities	(52,733)	23,031
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	739	(22,329)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	9,169	31,540
CASH AND CASH EQUIVALENTS, END OF PERIOD	9,908	9,211
Cash paid during the period for:
Interest	21,046	20,538
Income taxes	339	81
Dividends on common stock	5,772	0
Dividends on preferred stock	$ 1,238	$ 0

BASIS OF PRESENTATION AND ORGAN

BASIS OF PRESENTATION AND ORGANIZATION (Block)	9 Months Ended
	Sep. 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 as noted 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 impa ct on the Company’s financial position, results of operations or cash flows. Cash Flow Classification In August 2016, the accounting guidance for classifying elements of cash flow was modified . The guidance is effective for the Company as of January 1 , 2018 under a retrospective application method. Management does not believe the impact of this guidance will be material to the Company’s financial position, results of operations or cash flows. Stock-Based Compensation Modification 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 guidance 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 n ot allowed to be recognized; and (2) the Company may increase the shares withheld upon the vesting of RSUs in order to satisfy employees’ tax obligations. Management does not believe the impact of this guidance will be material to the Company’s financial position, results of operations or cash flows. Leasing Transactions In February 2016, the 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 consoli dated balance sheets; 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 effect ive 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 reflects 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 arisin g from customer contracts, 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 fo r 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 account ing. 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 p reviously 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 capitalized 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 d id not have any material effect on the Company’s results of operations, 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 r equiring 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 w as 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 reclassifications 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 sta tements. Consolidation In February 2015, the accounting guidance 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 Company’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 transaction 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 ext raordinary removes the uncertainty for the preparer as to whether 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. Whe n 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 w as 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 deri vative 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 flow s 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-based compensation as it applies to awards with perfo rmance 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 operations, 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 the above accounting pronouncement on debt issuance costs) .

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Block)	9 Months Ended
	Sep. 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 in 2016 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. 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. There were no events or circumstances since the Company ’s second quarter annual license impairment test that indicated an interim review of broadcasting licenses was required. 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. During the second quarter of the current year and each of the past several years, the Company completed its annual goodwill impairment test and the results indicated that there was no impairment as the fair value was greater than the carrying value. The annual goodwill impairment test in 2016 included the four new markets added during the second half of 2015. 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. There were no events or circumstances since the Company’s second quarter annual goodwill test that indicated an interim review of goodwill was required .

OTHER CURRENT LIABILITIES (Bloc

OTHER CURRENT LIABILITIES (Block)	9 Months Ended
	Sep. 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 September 30, December 31, 2016 2015 (amounts in thousands) Accrued compensation $ 8,499 $ 8,865 Accounts receivable credits 4,642 3,575 Advertiser obligations 1,214 1,198 Accrued interest payable 8,296 3,547 Other 3,284 2,739 Total other current liabilities $ 25,935 $ 19,924

LONG-TERM DEBT (Block)

LONG-TERM DEBT (Block)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt Disclosure Text Block	4 . LONG-TERM DEBT Refinancing On November 1, 2016 , the Company and its wholly owned subsidiary, Entercom Radio LLC, entered into a $ 540 million credit agreement (the “New Credit Facility”) with a syndicate of lenders and used the proceeds to: (1) refinance its senior secured credit facility (the “Credit Facility”) that was comprised of: (a) a $ 223.0 million outstanding term loan component (“Term B Loan”); and (b) $ 3.0 million outstanding under its revolving credit facility (the “Revolver”) ; (2) fund the redemption effective December 1, 2016 of $ 220.0 million 10.5% Senior Notes due December 1, 2019 (the “Senior Notes”) and discharged the indenture (the “Indenture”) governing the Senior Notes; (3) fund $ 11.6 million of accrued interest and a call premium of $ 5.8 million on the Senior Notes; and (4) pay transaction co sts associated with the refinancing. In the fourth quarter of 2016, the Company expects to record debt extinguishment costs related to the refinancing. The New Credit Facility is comprised of a revolving credit facility and a term B loan. The $ 60 million revolving credit facility (the “New Revolver”) has a maturity date of November 1, 2021 and provides for interest based upon the prime rate or the European London Interbank Offered Rate (“LIBOR”) plus a margin. The margin may increase or decrease based upon the Company’s Consolidated Leverage Ratio as defined in the agreement. The initial margin is at LIBOR plus 3.5 % or the prime rate plus 2.5 % . In a ddition, the New Revolver requires the payment of a commitment fee of 0.5 % per annum for the unused amount. The $ 480 million term B loan (the “New Term B Loan”) has a maturity date of November 1 , 2023 and provides for interest based upon the Base Rate or LIBOR, plus a margin. The initial rate is at LIBOR plus 3.5 % , with a LIBOR floor of 1.0 %, or the Base R ate plus 2.5 % . T he Base Rate is the highest of: (a) the administrative agent’s prime rate; (b) the Federal Funds Rate plus 0.5 %; or (c) the LIBOR Rate plus 1.0 %. The facility amortizes: (1) with equal quarterly installments of principal in annual amounts equal to 1.0 % of the original principal amount of the New Term B Loan; and (2) mandatory yearly prepayments based upon a percentage of Excess Cash Flow as defined in the loan agreement. The Company expects to use the New Revolver to: (1) provide for working capital; and (2) provide for general corporate purposes, including capital expenditures and any or all of the following (subject to certain restrictions): repurchases of Class A common stock, repurchases of preferred stock, dividends, investments and acquisitions. The New Credit Facility is secured by a pledge of 100% of the capital stock and other equity interest in all of the Company’s wholly owned subsidiaries. In addition, the New Credit Facility is secured by a lien on substantially all of the Company’s assets with limited exclusions (including the Company’s real property). The Company’s parent, Entercom Communications Corp., and all of the Company’s subsidiaries, jointly and severally guaranteed the New Credit Facility. The assets securing the New Credit Facility a re subject to customary release provisions which would enable the Company to sell such assets free and clear of encumbrance, subject to certain conditions and exceptions. The New Credit Facility has usual and customary covenants including, but not limite d to, consolidated leverage ratios, consolidated interest coverage ratios, limitations on acquisitions, stock repurchases, additional borrowings, and dividends. Specifically, the New Credit Facility requires the Company to comply with certain financial co venants which are defined terms within the agreement, including: a maximum Consolidated Leverage Ratio that cannot exceed 5.0 times through December 31, 2017, which decreases over time to 4.5 times as of September 30, 2018 and thereafter; and a minimum Consolidated Interest Coverage Ratio of 2.0 times (applicable only to the New Revolver). A s of September 30, 2016 , the Company was in compliance with all financial covenants then applicable and all other terms of the Credit Facility in all material respects . As of the refinancing, the Company was in compliance with all financial covenants then applicable and all other terms of the New Credit Facility in all material respects. The Company’s ability to maintain compliance with its covenants under the New Credit Facility is highl y dependent on its results of operations. Management believes that over the next 12 months the Company can continue to maintain compliance. Failure to comply with the Company’s financial covenants or other terms of its New Credit Facility and any subsequent failure to negotiate and obtain any required relief from its lenders could result in a default under the New Credit Facility. Any event of default could have a material adverse effect on the Company’s business and financial condition. 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 a mend its New Credit Facility or obtain other funding or additional funding, which may result in higher interest rates on its debt. Long-term debt was comprised of the following as of September 30, 2016 : Long-Term Debt September 30, December31, 2016 2015 (amounts in thousands) Credit Facility Revolver, due November 23, 2016 $ - $ 26,000 Term B Loan, due November 23, 2018 225,000 242,750 225,000 268,750 Senior Notes 10.5% senior unsecured notes, due December 1, 2019 220,000 220,000 Unamortized original issue discount (1,451) (1,731) 218,549 218,269 Other Debt Capital lease and other 90 - Total debt before deferred financing costs 443,639 487,019 Current amount of long-term debt (6,640) (31,832) Deferred financing costs (excludes the revolving credit) (4,728) (6,463) Total long-term debt, net of current debt $ 432,271 $ 448,724 Outstanding standby letters of credit $ 670 $ 670 (A) Senior Debt The Credit Facility As of September 30, 2016 , the amount outstanding under the Credit Facility’s Term B Loan was $ 225.0 million and there was no amount outstanding under the Revolver. The amount available under the Revolver, which includes the impact of outstanding letters of credit, was $ 39.3 million as of September 30, 2016 . On November 23, 2011, the Company entered into its prior 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 was due to mature on November 23, 2016; and (b) a $ 375 million Term B Loan that was due to mature on November 23, 2018. The Term B Loan required mandatory prepayments equal to a percentage of Excess Cash Flow, which was defined within the agreement and was subject to incremental step-downs depending on the consolidated Leverage Ratio. The payment was due in the first quarter of each year for the prior year and was included under the current portion of long-term debt, net of any prepayments made through September 30, 2016. For purposes of presenting the September 30, 2016 finan cial statements, the estimate of the Excess Cash Flow reflects the amount due under the Credit Facility in the first quarter of 2017. Under the New Credit Facility, however, the first such Excess Cash Flow payment, if any, will be due in the first quarter of 2018. ( B ) Senior Unsecured Debt The Senior Notes In connection with the refinancing described above, on November 1, 2016, the Company issued a call notice and funded the redemption of its $ 220.0 million Senior Notes due December 1, 2019 and discharged the Indenture governing the Senior Notes . The effective date of the Senior Notes redemption is December 1, 2016. As background, 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 Nine Months Ended September 30, 2016 2015 (amounts in thousands) Interest expense $ 25,382 $ 25,919 Amortization of deferred financing costs 1,929 2,153 Amortization of original issue discount of senior notes 280 251 Interest income and other investment income (38) - Total net interest expense $ 27,553 $ 28,323 Net Interest Expense Three Months Ended September 30, 2016 2015 (amounts in thousands) Interest expense $ 8,324 $ 8,915 Amortization of deferred financing costs 611 730 Amortization of original issue discount of senior notes 96 86 Interest income and other investment income (17) - Total net interest expense $ 9,014 $ 9,731

SHAREHOLDERS' EQUITY (Block)

SHAREHOLDERS' EQUITY (Block)	9 Months Ended
	Sep. 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 $ 0.075 per share common stock dividend program, with payments that approximate $ 2.9 million per quarter. 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 New Credit Facility. The Company paid dividends of $ 0.4 million on its Preferred in each of the first three quarters of 2016. In October 2016, the Company paid a dividend on its Preferred of $ 0.6 million. 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 September 30, December 31, Location 2016 2015 (amounts in thousands) Short-term Other current liabilities $ 87 $ - Long-term Other long-term liabilities 365 210 Total $ 452 $ 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 allows participants to purchase the Company’s stock equal to 85 % of the market value of such shares on the purchase date. Under the ESPP, the purchase of stock is limited to the lesser of an amount not to exceed 15 % of an employee’s annual gross earnings or an annual maximum limitation of $ 25,000 per year. The maximum number of shares authorized to be issued under the ESPP is 1.0 million. Pursuant to this plan, the Company does not record compensation expense to the employee as income subject to tax on the differen ce between the market value and the purchase price, as this plan was designed to meet the requirements of Section 423(b) of the Internal Revenue Code. The Company recognizes the 15 % discount in the Company’s consolidated statements of o perations as non-cash compensation expense. Nine Months Ended September 30, 2016 2015 (amounts in thousands) Number of shares purchased 18 - Non-cash compensation expense recognized $ 34 $ -

SHARE-BASED COMPENSATION (Block

SHARE-BASED COMPENSATION (Block)	9 Months Ended
	Sep. 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 September 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 (24,075) RSUs outstanding as of: September 30, 2016 2,087,210 $ - 1.7 $ 26,976,147 RSUs vested and expected to vest as of: September 30, 2016 1,908,169 $ - 1.7 $ 24,059,205 RSUs exercisable (vested and deferred) as of: September 30, 2016 48,880 $ - - $ 632,507 Weighted average remaining recognition period in years 2.4 Unamortized compensation expense, net of estimated forfeitures $ 12,481,696 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: Nine Months Year Ended Ended September 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: Nine Months Year Ended Ended September 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: Nine Months Year Ended Ended September 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 September 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: Nine Months Ended September 30, Option Exercise Data 2016 2015 (amounts in thousands) Intrinsic value of options exercised $ 325 $ 101 Tax benefit from options exercised (1) $ 125 $ 38 Cash received from exercise price of options exercised $ 39 $ 35 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 September 30, Period Ended Options Price Term (Years) 2016 Options outstanding as of: December 31, 2015 466,925 $ 1.93 Options granted - - Options exercised (29,500) 1.34 Options forfeited - Options expired (3,125) Options outstanding as of: September 30, 2016 434,300 $ 1.97 2.3 $ 4,764,266 Options vested and expected to vest as of: September 30, 2016 434,300 $ 1.97 2.3 $ 4,764,266 Options vested and exercisable as of: September 30, 2016 434,300 $ 1.97 2.3 $ 4,764,266 Weighted average remaining recognition period in years - Unamortized compensation expense, net of estimated forfeitures $ 5,465 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 September 30, Contractual Exercise September 30, Exercise From To 2016 Life Price 2016 Price $ 1.34 $ 1.34 400,675 2.4 $ 1.34 400,675 $ 1.34 $ 2.02 $ 11.78 33,625 1.9 $ 9.48 33,625 $ 9.48 $ 1.34 $ 11.78 434,300 2.3 $ 1.97 434,300 $ 1.97 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: Nine Months Ended September 30, 2016 2015 (amounts in thousands) Station operating expenses $ 962 $ 880 Corporate general and administrative expenses 3,698 3,217 Stock-based compensation expense included in operating expenses 4,660 4,097 Income tax benefit (1) 1,637 1,513 Net stock-based compensation expense $ 3,023 $ 2,584 Three Months Ended September 30, 2016 2015 (amounts in thousands) Station operating expenses $ 372 $ 334 Corporate general and administrative expenses 1,270 1,221 Stock-based compensation expense included in operating expenses 1,642 1,555 Income tax benefit (1) 888 577 Net stock-based compensation expense $ 754 $ 978

NET INCOME (LOSS) PER COMMON SH

NET INCOME (LOSS) PER COMMON SHARE (Block)	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 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 $ 11,420 $ 8,442 $ 26,666 $ 15,096 Preferred stock dividends 526 339 1,351 339 Net income (loss) available to common shareholders $ 10,894 $ 8,103 $ 25,315 $ 14,757 Denominator Basic weighted average shares outstanding 38,485 38,076 38,457 38,074 Basic net income (loss) per share available to common shareholders $ 0.28 $ 0.21 $ 0.66 $ 0.39 Diluted Income (Loss) Per Share Numerator Net income (loss) available to the Company $ 11,420 $ 8,442 $ 26,666 $ 15,096 Preferred stock dividends - 339 1,351 339 Net income (loss) available to common shareholders $ 11,420 $ 8,103 $ 25,315 $ 14,757 Denominator Basic weighted average shares outstanding 38,485 38,076 38,457 38,074 Effect of RSUs and options under the treasury stock method 1,014 837 917 933 Preferred stock under the as if converted method 1,934 - - - Diluted weighted average shares outstanding 41,433 38,913 39,374 39,007 Diluted net income (loss) per share available to common shareholders $ 0.28 $ 0.21 $ 0.64 $ 0.38 Disclosure Of Anti-Dilutive Shares The following table presents those shares excluded as they were anti-dilutive: Three Months Ended Nine Months Ended September 30, September 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 - 23 - 14 Price range of options: from $ - $ 10.17 $ - $ 10.17 Price range of options: to $ - $ 11.78 $ - $ 11.78 RSUs with service conditions - - 425 - 11 RSUs excluded with service and market conditions as market conditions not met 478 165 478 165 RSUs excluded with service and performance conditions as performance conditions not met 21 30 21 30 Perpetual cumulative convertible preferred stock treated as anti-dilutive under the as if method - 1,604 1,934 533

INCOME TAXES (Block)

INCOME TAXES (Block)	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure Abstract
Income Tax Disclosure Text Block	7. INCOME TAXES Tax Rates For The Nine Months And Three Months Ended September 30, 2016 T he effective income tax rates were 37.6 % and 39.8 % for the nine months and three months ended September 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 no n-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 Nine Months And Three Months Ended September 30, 2015 The effective income tax rates were 38.9 % and 37.1 % for the nine months and three months ended September 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 September 30, 2016 and December 31, 2015 , net deferred tax liabilities were $ 94.1 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)	9 Months Ended
	Sep. 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 September 30, December 31, Description 2016 2015 (amounts in thousands) Liabilities Deferred compensation - Level 1 (1) $ 10,680 $ 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: September 30, December 31, 2016 2015 Carrying Fair Carrying Fair Value Value Value Value (amounts in thousands) Term B Loan (1) $ 225,000 $ 226,406 $ 242,750 $ 242,447 Revolver (2) $ - $ - $ 26,000 $ 26,000 Senior Notes (3) $ 218,549 $ 227,291 $ 218,269 $ 227,000 Other debt (4) $ 90 $ - 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)	9 Months Ended
	Sep. 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 nine months ended September 30, 2016 . 2015 Acquisition Acquisition Of Lincoln Financial Media Company On July 16, 2015 , the Company acquired 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 held through subsidiaries the assets and liabilities of radio stations serving the Atlanta, Denver, Miami and San Diego markets. The purchase price was $ 105.0 million of which: (1) $ 77.5 million was paid in cash using $ 42.0 million in borrowing under the Company’s Revolver together with cash on hand; and (2) $ 27.5 million was paid with the Company’s issuance of perpetual cumulative convertible preferred stock (“Preferred”) . The aggregate fair valu e purchase price allocation of the assets and liabilities as reported on the Company’s Form 10-K filed with the SEC on February 26, 2016, were revised on July 1, 2016, to reflect a liability associated with an assumed lawsuit. The amount of the liability could not be estimated at the time of the acquisition. This revision resulted in an increase to goodwill of $ 0.1 million in one of the Lincoln markets. 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 are expensed as a separate line item in the statement of operations. The Company records merger and acquisition costs whether or not an acquisition occurs. In the third quarter of 2016, the Company recorded merger and acquisition costs of $0.7 million. In 2015, the Company re corded merger and acquisition costs of $4.0 million (primarily legal, professional and advisory services) as well as restructuring costs of $1.7 million related to the Company’s integration of its acquisitions. The restructuring plan included : (1) costs associated with exiting contractual vendor obligations 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 aban donment costs are longer-term as the lease expires in June 2026. The estimated amount of unpaid restructuring charges as of September 30, 2016 , after excluding the lease abandonment liability as of September 30, 2016 , w as included in accrued expenses as most expenses are expe cted to be paid within one year . Nine Months Ended September 30, 2016 2015 (amounts in thousands) Restructuring charges Costs to exit duplicative contracts $ - $ 627 Workforce reduction - 1,127 Total restructuring charges - 1,754 Merger and acquisition costs 670 3,978 Total merger & acquisition costs and restructuring charges $ 670 $ 5,732 Nine Months Year Ended Ended September 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 (851) (1,172) Restructuring charges unpaid and outstanding 835 1,686 Less lease abandonment costs over a long-term period (669) (687) Short-term restructuring charges unpaid and outstanding $ 166 $ 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 of, 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 of and previously owned and operated by the Company as these assets were a key 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 and do not purpo rt 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 Nine Months Ended September 30, September 30, 2016 2015 2016 2015 (amounts in thousands except share and per share data) Actual Pro Forma Actual Pro Forma Net revenues $ 120,457 $ 117,102 $ 337,038 $ 322,083 Net income (loss) available to the Company $ 11,420 $ 8,533 $ 26,666 $ 15,253 Net income (loss) available to common shareholders $ 10,894 $ 7,983 $ 25,315 $ 13,603 Net income (loss) available to common shareholders per common share - basic $ 0.28 $ 0.21 $ 0.66 $ 0.36 Net income (loss) available to common shareholders per common share - diluted $ 0.28 $ 0.21 $ 0.64 $ 0.35 Weighted shares outstanding basic 38,484,578 38,075,922 38,457,061 38,073,525 Weighted shares outstanding diluted 41,433,200 38,912,829 39,373,988 39,006,981 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)	9 Months Ended
	Sep. 30, 2016
Commitments And Contingencies Disclosure Abstract
Commitments And Contingencies Disclosure Text Block	12. CONTINGENCIES AND COMMITMENTS Contingencies On October 17, 2016, the Company entered into an asset purchase agreement (“APA”) with Beasley Broadcast Group, Inc. (“Beasley“) to acquire four radio stations in Charlotte, North Carolina , for a p urchase price of $ 24 million in cash. The Company entered into two time brokerage agreements (“TBAs”) to operate the radio stations, of which three of the four radio stations are held in a trust (“Charlotte Trust”). On November 1, 2016, the Company commenced operations of the radio stations held in the Charlotte Trust . Th e Company expects to begin operating the fourth station under a separate TBA with Beasley on January 1, 2017 . If regulatory approval by the Federal Communications Commission (the “FCC”) to complete the transaction is received pr ior to January 1, 2017, the TBA would not occur. During the period of the TBAs, which terminates upon closing of the APA, the Company will include net revenues , station operating expenses and monthly TBA fees associated with operating these stations in t he Company’s consolidated financial statements. The Company expects that the APA, will close in the fourth quarter of 2016 or early in the first quarter of 2017. The Company believes that the Charlotte Trust is a variable interest entity (“VIE”) and tha t the Company is the primary beneficiary as the Company may absorb the profits and losses from the operation of the VIE during the period of the TBA. Effective upon the commencement of the Charlotte Trust TBA, the Company expects to consolidate the assets and lia bilities of the VIE within its consolidated financial statements, using fair values for the assets and liabilities as if the Company had closed on this transaction. The equity investment by Beasley in the Charlotte Trust would be reflected as a non- controlling interest. The assets of the Company’s consolidated VIE can only be used to settle the obligations of the VIE, and may not be sold, or otherwise disposed of, except for assets sold or replaced with others of like kind or value. There is a lack o f recourse by the beneficial interest holders of the VIE against the Company’s general creditors. As disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, filed on February 26, 2016, the FCC is investigating a contest that took place at one of the Company’s stations in 2007. On October 27, 2016, the FCC issued an order calling for an administrative hearing to determine if the FCC license for the station should be renewed. The Company is subject to various outstanding claims which arise in the ordinary cour se 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 . Other Matters During the third quarter of 2016, the Company settled a legal claim with British Petroleum as a result of their Deepwater Horizon Oil Spill in the Gulf of Mexico that occurred in 2010 and recovered $ 2.3 million on a net basis after deducting certain related expenses. The claim was a result of lost business due to the oil spill.

ASSETS HELD FOR SALE (Block)

ASSETS HELD FOR SALE (Block)	9 Months Ended
	Sep. 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. As of September 30, 2016 , the Company entered in to an agreement to sell an AM radio station in one of its markets for $ 0.9 million and classified these assets and liabilities as assets held for sale. The Company expects that the sale of this radio station will not alter the Com pany’s competitive position in the market. This transaction, which is expected to be completed in the fourth quarter of 2016, is expected to result in a gain of $ 0.2 million. During 2016 , the Company disposed of the following a ssets 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/ante nna site to be sold to a government agency that did not result in a gain or loss; 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. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indic ate that the carrying amount of an asset may not be recoverable. The Company determined that the carrying value of these assets was less than the fair value by utilizing offers from third parties for a bundle of assets. This is considered a Level 3 measure ment. The major categories of these assets are as follows: As Of As Of September 30, December 31, Assets Held For Sale 2016 2015 (amounts in thousands) Prepaid expense $ 94 $ - Land and land improvements 74 3,972 Building - 1,036 Leasehold improvements 228 - Equipment 410 497 Total property and equipment 806 5,505 Depreciation and amortization 201 796 Net property and equipment 605 4,709 Radio broadcasting licenses 36 1,397 Goodwill 2 - Total intangibles 38 1,397 Assets held for sale 643 6,106 Less asset retirement obligations (13) - Net assets held for sale $ 630 $ 6,106

SUBSEQUENT EVENTS (Block)

SUBSEQUENT EVENTS (Block)	9 Months Ended
	Sep. 30, 2016
Subsequent Events Abstract
Schedule Of Subsequent Events Text Block	13. SUBSEQUENT EVENTS Events occurring after September 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 and are as follows: On November 1, 2016, the Company completed a debt refinancing as described under Note 4. On October 27, 2016, the FCC issued an order calling for an administrative hearing to determine if the FCC license for one of the Company’s stations should be renewed. Refer to Note 12 for further discussion. On October 17, 2016, the Company entered into an APA with Beasley to acquire four radio stations in Charlotte, North Carolina, a new market for the Company. Refer to Note 12 for further discussion.

OTHER CURRENT AND LONG-TERM LIA

OTHER CURRENT AND LONG-TERM LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2016
Other Liabilities Disclosure Abstract
Schedule of Accounts Payable and Accrued Liabilities	Other Current Liabilities September 30, December 31, 2016 2015 (amounts in thousands) Accrued compensation $ 8,499 $ 8,865 Accounts receivable credits 4,642 3,575 Advertiser obligations 1,214 1,198 Accrued interest payable 8,296 3,547 Other 3,284 2,739 Total other current liabilities $ 25,935 $ 19,924

LONG-TERM DEBT LIABILITIES (Tab

LONG-TERM DEBT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Debt	Long-Term Debt September 30, December31, 2016 2015 (amounts in thousands) Credit Facility Revolver, due November 23, 2016 $ - $ 26,000 Term B Loan, due November 23, 2018 225,000 242,750 225,000 268,750 Senior Notes 10.5% senior unsecured notes, due December 1, 2019 220,000 220,000 Unamortized original issue discount (1,451) (1,731) 218,549 218,269 Other Debt Capital lease and other 90 - Total debt before deferred financing costs 443,639 487,019 Current amount of long-term debt (6,640) (31,832) Deferred financing costs (excludes the revolving credit) (4,728) (6,463) Total long-term debt, net of current debt $ 432,271 $ 448,724 Outstanding standby letters of credit $ 670 $ 670
Schedule Of Net Interest Expense	Net Interest Expense Nine Months Ended September 30, 2016 2015 (amounts in thousands) Interest expense $ 25,382 $ 25,919 Amortization of deferred financing costs 1,929 2,153 Amortization of original issue discount of senior notes 280 251 Interest income and other investment income (38) - Total net interest expense $ 27,553 $ 28,323 Net Interest Expense Three Months Ended September 30, 2016 2015 (amounts in thousands) Interest expense $ 8,324 $ 8,915 Amortization of deferred financing costs 611 730 Amortization of original issue discount of senior notes 96 86 Interest income and other investment income (17) - Total net interest expense $ 9,014 $ 9,731

SHAREHOLDER'S EQUITY (Tables)

SHAREHOLDER'S EQUITY (Tables)	9 Months Ended
	Sep. 30, 2016
Stockholders Equity Note Abstract
Schedule of dividends payable on unvested restricted stock units	Dividend Equivalent Liabilities Balance Sheet September 30, December 31, Location 2016 2015 (amounts in thousands) Short-term Other current liabilities $ 87 $ - Long-term Other long-term liabilities 365 210 Total $ 452 $ 210
ESPP Shares Purchased and Non-Cash Comp Expense	Nine Months Ended September 30, 2016 2015 (amounts in thousands) Number of shares purchased 18 - Non-cash compensation expense recognized $ 34 $ -

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments Abstract
Schedule Of Restricted Stock Units Market Based	Nine Months Year Ended Ended September 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	Nine Months Ended September 30, Option Exercise Data 2016 2015 (amounts in thousands) Intrinsic value of options exercised $ 325 $ 101 Tax benefit from options exercised (1) $ 125 $ 38 Cash received from exercise price of options exercised $ 39 $ 35
Stock Option Valuation Assumptions	Nine Months Year Ended Ended September 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 September 30, Contractual Exercise September 30, Exercise From To 2016 Life Price 2016 Price $ 1.34 $ 1.34 400,675 2.4 $ 1.34 400,675 $ 1.34 $ 2.02 $ 11.78 33,625 1.9 $ 9.48 33,625 $ 9.48 $ 1.34 $ 11.78 434,300 2.3 $ 1.97 434,300 $ 1.97
Schedule of recognized stock-based compensation expense	Nine Months Ended September 30, 2016 2015 (amounts in thousands) Station operating expenses $ 962 $ 880 Corporate general and administrative expenses 3,698 3,217 Stock-based compensation expense included in operating expenses 4,660 4,097 Income tax benefit (1) 1,637 1,513 Net stock-based compensation expense $ 3,023 $ 2,584 Three Months Ended September 30, 2016 2015 (amounts in thousands) Station operating expenses $ 372 $ 334 Corporate general and administrative expenses 1,270 1,221 Stock-based compensation expense included in operating expenses 1,642 1,555 Income tax benefit (1) 888 577 Net stock-based compensation expense $ 754 $ 978
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 September 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 (24,075) RSUs outstanding as of: September 30, 2016 2,087,210 $ - 1.7 $ 26,976,147 RSUs vested and expected to vest as of: September 30, 2016 1,908,169 $ - 1.7 $ 24,059,205 RSUs exercisable (vested and deferred) as of: September 30, 2016 48,880 $ - - $ 632,507 Weighted average remaining recognition period in years 2.4 Unamortized compensation expense, net of estimated forfeitures $ 12,481,696
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 September 30, Period Ended Options Price Term (Years) 2016 Options outstanding as of: December 31, 2015 466,925 $ 1.93 Options granted - - Options exercised (29,500) 1.34 Options forfeited - Options expired (3,125) Options outstanding as of: September 30, 2016 434,300 $ 1.97 2.3 $ 4,764,266 Options vested and expected to vest as of: September 30, 2016 434,300 $ 1.97 2.3 $ 4,764,266 Options vested and exercisable as of: September 30, 2016 434,300 $ 1.97 2.3 $ 4,764,266 Weighted average remaining recognition period in years - Unamortized compensation expense, net of estimated forfeitures $ 5,465
Schedule Of Restricted Stock Units Performance Based [Text Block]	Nine Months Year Ended Ended September 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)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
Schedule of Earnings Per Share Reconciliation [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 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 $ 11,420 $ 8,442 $ 26,666 $ 15,096 Preferred stock dividends 526 339 1,351 339 Net income (loss) available to common shareholders $ 10,894 $ 8,103 $ 25,315 $ 14,757 Denominator Basic weighted average shares outstanding 38,485 38,076 38,457 38,074 Basic net income (loss) per share available to common shareholders $ 0.28 $ 0.21 $ 0.66 $ 0.39 Diluted Income (Loss) Per Share Numerator Net income (loss) available to the Company $ 11,420 $ 8,442 $ 26,666 $ 15,096 Preferred stock dividends - 339 1,351 339 Net income (loss) available to common shareholders $ 11,420 $ 8,103 $ 25,315 $ 14,757 Denominator Basic weighted average shares outstanding 38,485 38,076 38,457 38,074 Effect of RSUs and options under the treasury stock method 1,014 837 917 933 Preferred stock under the as if converted method 1,934 - - - Diluted weighted average shares outstanding 41,433 38,913 39,374 39,007 Diluted net income (loss) per share available to common shareholders $ 0.28 $ 0.21 $ 0.64 $ 0.38
Equity Award Impact Schedule	Three Months Ended Nine Months Ended September 30, September 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 - 23 - 14 Price range of options: from $ - $ 10.17 $ - $ 10.17 Price range of options: to $ - $ 11.78 $ - $ 11.78 RSUs with service conditions - - 425 - 11 RSUs excluded with service and market conditions as market conditions not met 478 165 478 165 RSUs excluded with service and performance conditions as performance conditions not met 21 30 21 30 Perpetual cumulative convertible preferred stock treated as anti-dilutive under the as if method - 1,604 1,934 533

FAIR VALUE OF FINANCIAL INSTR25

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures Abstract
Schedule of recurring fair value measurements	Value Measurements At Reporting Date September 30, December 31, Description 2016 2015 (amounts in thousands) Liabilities Deferred compensation - Level 1 (1) $ 10,680 $ 10,137
Schedule Of Carrying Value Of Financial Instruments	September 30, December 31, 2016 2015 Carrying Fair Carrying Fair Value Value Value Value (amounts in thousands) Term B Loan (1) $ 225,000 $ 226,406 $ 242,750 $ 242,447 Revolver (2) $ - $ - $ 26,000 $ 26,000 Senior Notes (3) $ 218,549 $ 227,291 $ 218,269 $ 227,000 Other debt (4) $ 90 $ - Letters of credit (5) $ 670 $ 670

ACQUISITIONS, DIVESTITURES AND

ACQUISITIONS, DIVESTITURES AND PRO FORMA SUMMARY (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Schedule of merger and acquisition costs	Nine Months Ended September 30, 2016 2015 (amounts in thousands) Restructuring charges Costs to exit duplicative contracts $ - $ 627 Workforce reduction - 1,127 Total restructuring charges - 1,754 Merger and acquisition costs 670 3,978 Total merger & acquisition costs and restructuring charges $ 670 $ 5,732
Schedule of unaudited pro forma summary of financial information	Three Months Ended Nine Months Ended September 30, September 30, 2016 2015 2016 2015 (amounts in thousands except share and per share data) Actual Pro Forma Actual Pro Forma Net revenues $ 120,457 $ 117,102 $ 337,038 $ 322,083 Net income (loss) available to the Company $ 11,420 $ 8,533 $ 26,666 $ 15,253 Net income (loss) available to common shareholders $ 10,894 $ 7,983 $ 25,315 $ 13,603 Net income (loss) available to common shareholders per common share - basic $ 0.28 $ 0.21 $ 0.66 $ 0.36 Net income (loss) available to common shareholders per common share - diluted $ 0.28 $ 0.21 $ 0.64 $ 0.35 Weighted shares outstanding basic 38,484,578 38,075,922 38,457,061 38,073,525 Weighted shares outstanding diluted 41,433,200 38,912,829 39,373,988 39,006,981 Conversion of preferred stock for dilutive purposes under the as if method dilutive anti-dilutive anti-dilutive anti-dilutive
ScheduleOfRestructuringReserveByTypeOfCostTextBlock	Nine Months Year Ended Ended September 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 (851) (1,172) Restructuring charges unpaid and outstanding 835 1,686 Less lease abandonment costs over a long-term period (669) (687) Short-term restructuring charges unpaid and outstanding $ 166 $ 999

ASSETS HELD FOR SALE (Tables)

ASSETS HELD FOR SALE (Tables)	9 Months Ended
	Sep. 30, 2016
Property Plant And Equipment Assets Held For Sale Disclosure [Abstract]
Disclosure Of Long Lived Assets Held For Sale [Text Block]	As Of As Of September 30, December 31, Assets Held For Sale 2016 2015 (amounts in thousands) Prepaid expense $ 94 $ - Land and land improvements 74 3,972 Building - 1,036 Leasehold improvements 228 - Equipment 410 497 Total property and equipment 806 5,505 Depreciation and amortization 201 796 Net property and equipment 605 4,709 Radio broadcasting licenses 36 1,397 Goodwill 2 - Total intangibles 38 1,397 Assets held for sale 643 6,106 Less asset retirement obligations (13) - Net assets held for sale $ 630 $ 6,106

OTHER CURRENT AND LONG-TERM L28

OTHER CURRENT AND LONG-TERM LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accrued compensation	$ 8,499	$ 8,865
Accounts receivable credits	4,642	3,575
Derivative valuation - short-term	0	0
Advertiser obligations	1,214	1,198
Accrued interest payable	8,296	3,547
Other	3,284	2,739
Accrued compensation and other current liabilities	$ 25,935	$ 19,924

LONG-TERM DEBT LIABILITIES (Det

LONG-TERM DEBT LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total	$ 443,639	$ 487,019
Current amount of long-term debt	(6,640)	(31,832)
Unamortized original issue discount	(1,451)	(1,731)
Total long-term debt	432,271	448,724
Outstanding standby letter of credit	670	670
Revolver, due November 23, 2016
Debt Instrument [Line Items]
Credit Facility	0	26,000
Term B Loan, due November 23, 2018
Debt Instrument [Line Items]
Credit Facility	225,000	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	90	0
Total Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility	225,000	268,750
Net Senior Notes Outstanding [Member]
Debt Instrument [Line Items]
Senior unsecured notes	218,549	218,269
Deferred Financing Costs [Member]
Debt Instrument [Line Items]
Total	$ (4,728)	$ (6,463)

LONG-TERM DEBT LIABILITIES - Se

LONG-TERM DEBT LIABILITIES - Senior Debt (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)	Dec. 01, 2016USD ($)	Nov. 01, 2016USD ($)	Nov. 23, 2011USD ($)
Debt Instrument [Line Items]
Credit Facility			$ 540
Minimum [Member]
Debt Instrument [Line Items]
Consolidated Interest Coverage Ratio	2
Maximum [Member]
Debt Instrument [Line Items]
Credit Facility				$ 425
Through December 31, 2017 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Consolidated Leverage Ratio	5
September 30, 2018 and Thereafter [Member] | Maximum [Member]
Debt Instrument [Line Items]
Consolidated Leverage Ratio	4.5
Revolving Credit Facility
Debt Instrument [Line Items]
Line of Credit Facility, Amount Outstanding			3
Revolving Credit Facility | Maximum [Member]
Debt Instrument [Line Items]
Credit Facility		$ 40		50
Undrawn amount of the Revolver	$ 39.3
Term Loan B
Debt Instrument [Line Items]
Line of Credit Facility, Amount Outstanding			$ 223
Term Loan B | Maximum [Member]
Debt Instrument [Line Items]
Credit Facility				$ 375
New Revolver [Member]
Debt Instrument [Line Items]
Commitment fee	0.50%
New Revolver [Member] | Libor Rate Plus
Debt Instrument [Line Items]
Variable rate plus fees			3.50%
New Revolver [Member] | Prime Rate Plus
Debt Instrument [Line Items]
Variable rate plus fees			2.50%
New Revolver [Member] | Maximum [Member]
Debt Instrument [Line Items]
Credit Facility			$ 60
New Term B Loan [Member] | Libor Rate Plus
Debt Instrument [Line Items]
Variable rate plus fees			3.50%
New Term B Loan [Member] | Federal Rate Plus
Debt Instrument [Line Items]
Variable rate plus fees			0.50%
New Term B Loan [Member] | Base Rate Plus
Debt Instrument [Line Items]
Variable rate plus fees			1.00%
New Term B Loan [Member] | Libor Rate Floor
Debt Instrument [Line Items]
Variable rate plus fees			1.00%
New Term B Loan [Member] | Base Rate Libor Plus
Debt Instrument [Line Items]
Variable rate plus fees			2.50%
New Term B Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Credit Facility			$ 480

LONG-TERM DEBT LIABILITIES - 31

LONG-TERM DEBT LIABILITIES - Senior Unsecured Debt (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Dec. 01, 2016	Dec. 31, 2011	Nov. 01, 2016
Debt Instrument [Line Items]
DebtInstrumentIncreaseAccruedInterest	$ 11.6
Call Premium on Senior Debt	$ 5.8
Cash Placed in Trust for Debt Retirement			$ 220
Senior Unsecured Debt
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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net Interest Expense
Interest expense	$ 8,324	$ 8,915	$ 25,382	$ 25,919
Amortization of deferred financing costs	611	730	1,929	2,153
Amortization of original issue discount of senior notes	96	86	280	251
Interest expense on interest rate hedging agreements	0	0	0	0
Interest income and other investment income	(17)	0	(38)	0
Total net interest expense	$ 9,014	$ 9,731	$ 27,553	$ 28,323

SHAREHOLDER'S EQUITY (Details)

SHAREHOLDER'S EQUITY (Details) - USD ($) shares in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Oct. 31, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Dividends And Shares Activitiy [Line Items]
Dividend payments				$ 5,772,000	$ 0
Amount recorded as financing activity				(2,205,000)	(1,527,000)	$ (1,562,000)
Dividends paid on preferred stock	$ 600,000	$ 400,000		1,238,000		752,000
Stock Issued During Period Value Employee Stock Purchase Plan				194,000
Total Non cash compensation expense recognized		754,000	$ 978,000	3,023,000	$ 2,584,000
Dividend Equivalents
Dividends And Shares Activitiy [Line Items]
Dvidend Equivalent liability - short term		87,000		87,000		0
Dvidend Equivalent liability - long term		365,000		365,000		210,000
Total Dividend Equivalent Liability		$ 452,000		$ 452,000		$ 210,000
ESPP [Member]
Dividends And Shares Activitiy [Line Items]
Employee stock purchase plan, authorized shares		1,000		1,000
Stock Issued During Period Shares Employee Stock Purchase Plans				18	0
Total Non cash compensation expense recognized				$ 34,000	$ 0
Espp Maximum Allocated Portion Of Earnings		15.00%		15.00%
Espp Shares Market Value		85.00%		85.00%
Espp Maximum Dollar Value Of Earnings		$ 25,000		$ 25,000
Espp Share Discount		15.00%		15.00%

SHARE-BASED COMPENSATION - Equi

SHARE-BASED COMPENSATION - Equity Compensation Plan and RSU Acitivity (Details)	9 Months Ended
	Sep. 30, 2016shares
Restricted Stock Unit Activity [Abstract]
RSUs issued	1,116,585
RSUs forfeited	(24,075)
RSUs vested and released	595,717

SHARE-BASED COMPENSATION - RSU

SHARE-BASED COMPENSATION - RSU Activity - Summary of Change (Details)	9 Months Ended
	Sep. 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	(24,075)
RSUs ending	2,087,210
Weighted Average Purchase Price RSUs | $ / shares	$ 0
Weighted Average Remaining Contractual Term (Years) RSUs	1 year 8 months 12 days
Aggregate Intrinsic Value RSUs | $	$ 26,976,147
Number of RSUs vested and expected to vest	1,908,169
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 8 months 12 days
Aggregate Intrinsic Value RSUs vested and expected to vest | $	$ 24,059,205
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 | $	$ 632,507
Weighted average remaining recognition period in years	2 years 4 months 24 days
Unamortized compensation expense, net of estimated forfeitures | $	$ 12,481,696

SHARE-BASED COMPENSATION - RSUs

SHARE-BASED COMPENSATION - RSUs with Market Conditions (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 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	(24,075)
Number of RSUs vested	(595,717)
RSUs ending	2,087,210	1,590,417
Net RSUs increase (decrease) to APIC	$ 4,660	$ 5,524
Restricted Stock Units With Market Conditions [Member]
Share-based Compensation Restricted Stock Units With Market Conditions [Line Items]
RSUs issued	470	165
Reconciliation Of RSUs With Market Conditions [Abstract]
RSUs beginning	390	290
Number of RSUs granted	470	165
Number of RSUs forfeited	0	0
Number of RSUs vested	(225)	(65)
RSUs ending	635	390
Average fair value of performance condition RSUs issued	$ 7.34	$ 8.39
Restricted Stock Units With Market Conditions [Member] | Maximum [Member]
Reconciliation Of RSUs With Market Conditions [Abstract]
RSUs beginning	29
RSUs ending		29
Restricted Stock Units With Service Conditions [Member]
Share-based Compensation Restricted Stock Units With Market Conditions [Line Items]
RSUs issued	0	21
Reconciliation Of RSUs With Market Conditions [Abstract]
RSUs beginning	29	8
Number of RSUs granted	0	21
Number of RSUs forfeited	(8)	0
Number of RSUs vested	0	0
RSUs ending	21	29
Average fair value of performance condition RSUs issued	$ 0	$ 11.11

SHARE-BASED COMPENSATION - Othe

SHARE-BASED COMPENSATION - Other Options Disclosures (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Other Options Disclosures [Line Items]
Intrinsic value of options exercised	$ 325	$ 101
Tax benefit from options exercised, before impact of valuation allowance	125	38
Cash received from exercise price of options exercised	$ 39	$ 35

SHARE-BASED COMPENSATION - Opti

SHARE-BASED COMPENSATION - Options Activity (Details)	9 Months Ended
	Sep. 30, 2016USD ($)$ / sharesshares
Options activity [Roll Forward]
Options beginning	466,925
Options granted	0
Options exercised	(29,500)
Options forfeited	0
Options expired	(3,125)
Options ending	434,300
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	$ 1.97
Weighted Average Remaining Contractual Term (Years) Options	2 years 3 months 18 days
Intrinsic Value Options | $	$ 4,764,266
Options vested and expected to vest	434,300
Options vested and exercisable	434,300
Weighted average exercise price options vested and expected to vest | $ / shares	$ 1.97
Weighted average exercise price options vested and exerciable | $ / shares	$ 1.97
Weighted average remaining contractual period (Years) options vested and expected to vest	2 years 3 months 18 days
Weighted average remaining contractual period (years) options vested and exercisable	2 years 3 months 18 days
Intrinsic value options vested and expected to vest | $	$ 4,764,266
Intrinsic value options vested and exercisable | $	$ 4,764,266
Weighted average remaining recognition period in years	0 years
Unamortized compensation expense, net of estimated forfeitures | $	$ 5,465

SHARE-BASED COMPENSATION - Valu

SHARE-BASED COMPENSATION - Valuation Method (Details)	9 Months Ended	12 Months Ended
	Sep. 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Significant ranges of outstanding and exercisable options [Line Items]
Number of options outstanding	434,300		434,300		466,925
Weighted average remaining contractual life options outstanding			2 years 3 months 18 days
Weighted average exercise price options outstanding	$ 1.97		$ 1.97		$ 1.93
Number of options exercisable	434,300		434,300
Weighted average exercise price options exercisable	$ 1.97		$ 1.97
Recognized Non-Cash Compensation Expense [Line Items]
Total Non cash compensation expense recognized	$ 754	$ 978	$ 3,023	$ 2,584
Exercise prices from 1.34 to 1.34
Significant ranges of outstanding and exercisable options [Line Items]
Number of options outstanding	400,675		400,675
Weighted average remaining contractual life options outstanding			2 years 4 months 24 days
Weighted average exercise price options outstanding	$ 1.34		$ 1.34
Number of options exercisable	400,675		400,675
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			1 year 10 months 24 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	$ 372	334	$ 962	880
Corporate general and administrative expenses [Member]
Recognized Non-Cash Compensation Expense [Line Items]
Total Non cash compensation expense recognized	1,270	1,221	3,698	3,217
Stock-based compensation expense included in operating expenses [Member]
Recognized Non-Cash Compensation Expense [Line Items]
Total Non cash compensation expense recognized	1,642	1,555	4,660	4,097
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	$ 888	$ 577	$ 1,637	$ 1,513

NET INCOME PER COMMON SHARE (De

NET INCOME PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 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	$ 11,420	$ 8,442	$ 26,666	$ 15,096	$ 29,184
Preferred stock dividend	526	339	1,351	339
Net Income (Loss) Available to Common Stockholders, Basic	$ 10,894	$ 8,103	$ 25,315	$ 14,757
Weighted Average Number Of Shares Outstanding Basic	38,484,578	38,075,922	38,457,061	38,073,525
Earnings Per Share Basic	$ 0.28	$ 0.21	$ 0.66	$ 0.39
Incremental Common Shares Attributable to Share-based Payment Arrangements	1,014,000	837,000	917,000	933,000
Weighted Average Number Of Diluted Shares Outstanding	41,433,200	38,912,829	39,373,988	39,006,981
Earnings Per Share Diluted	$ 0.28	$ 0.21	$ 0.64	$ 0.38
Preferred stock under if converted method	1,934,000	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	425,000	0	11,000
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	30,000	21,000	30,000
Perpetual Cumulative Convertible Preferred Stock [Member]
Impact Of Equity Awards [Line Items]
Excluded shares as anti-dilutive under the treasury stock method	0	1,604,000	1,934,000	533,000
Options Activity [Member]
Impact Of Equity Awards [Line Items]
Excluded shares as anti-dilutive under the treasury stock method	0	23,000	0	14,000
Price range of option: from	$ 0	$ 10.17	$ 0	$ 10.17
Price range of option: to	$ 0	$ 11.78	$ 0	$ 11.78
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	478,000	165,000	478,000	165,000

INCOME TAXES - Expected And Rep

INCOME TAXES - Expected And Reported Income Taxes (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
Income taxes (benefit)	$ 7,553	$ 4,986	$ 16,097	$ 9,608
Effective income tax rate	39.80%	37.10%	37.60%	38.90%
Impairment loss	$ 0	$ 0	$ 62	$ 0

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Deferred tax liabilities:
Deferred Tax Assets (Liabilities), Net	$ 94.1	$ 78.2

FAIR VALUE OF FINANCIAL INSTR44

FAIR VALUE OF FINANCIAL INSTRUMENTS - Recurring basis (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Inputs, Level 1 [Member]
Assets
Cash equivalents	$ 0
Liabilities
Deferred Compensation	10,680,000	$ 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	Sep. 30, 2016	Dec. 31, 2015
Senior Notes
Fair Value Of Instruments [Line Items]
Carrying value of debt	$ 218,549	$ 218,269
Fair value of debt	227,291	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	0	26,000
Fair value of debt	0	26,000
Term Loan B [Member]
Fair Value Of Instruments [Line Items]
Carrying value of debt	225,000	242,750
Fair value of debt	226,406	242,447
Other Debt [Member]
Fair Value Of Instruments [Line Items]
Carrying value of debt	$ 90	$ 0

ACQUISITIONS, DIVESTITURES AN46

ACQUISITIONS, DIVESTITURES AND PRO FORMA SUMMARY (Details) - USD ($)	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Jul. 16, 2015
Acquisition [Line Items]
Payments to Acquire Businesses, Gross				$ 92,000	$ 81,652,000
Purchase price allocation [Abstract]
Property Plant And Equipment Net	$ 55,380,000			55,380,000		$ 57,993,000
The expense recognized in the consolidated statement of income as merger and acquisition costs [Abstract]
Merger and acquisition costs and restructuring charges	670,000		$ 1,978,000	670,000	5,732,000
Restructuring Charges				0	1,754,000
Merger Costs				670,000	3,978,000
Lease abandonment expense [Member]
The expense recognized in the consolidated statement of income as merger and acquisition costs [Abstract]
Restructuring Charges				0	0
Cost Of Terminating Contracts [Member]
The expense recognized in the consolidated statement of income as merger and acquisition costs [Abstract]
Restructuring Charges				0	627,000
One Time Termination Expenses [Member]
The expense recognized in the consolidated statement of income as merger and acquisition costs [Abstract]
Restructuring Charges				0	$ 1,127,000
LFM [Member]
Acquisition [Line Items]
Acquisition price paid from borrowing							$ 42,000,000
Purchases of radio station assets							(77,500,000)
Unaudited Pro Forma Summary Of Financial Information
Acquisition Price Paid Using Convertible Preferred Stock							27,500,000
Aquisition Purchase Price Total							$ 105,000,000
AHFS [Member]
Purchase price allocation [Abstract]
Total intangible assets				38,000		1,397,000
Total assets	643,000			643,000		6,106,000
Net assets acquired	630,000			630,000		6,106,000
Property, Plant and Equipment, Gross	806,000			806,000		5,505,000
Property Plant And Equipment Net	605,000			605,000		4,709,000
Depreciation				201,000		796,000
AHFS [Member] | Prepaid Expenses And Other Current Assets [Member]
Purchase price allocation [Abstract]
Property, Plant and Equipment, Gross	94,000			94,000		0
AHFS [Member] | Asset retirement liabilities [Member]
Purchase price allocation [Abstract]
Total intangible assets				13,000		0
AHFS [Member] | Leasehold improvements [Member]
Purchase price allocation [Abstract]
Property, Plant and Equipment, Gross	228,000			228,000		0
AHFS [Member] | Equipment [Member]
Purchase price allocation [Abstract]
Property, Plant and Equipment, Gross	410,000			410,000		497,000
AHFS [Member] | Land and Land Improvements [Member]
Purchase price allocation [Abstract]
Property, Plant and Equipment, Gross	74,000			74,000		3,972,000
AHFS [Member] | Building [Member]
Purchase price allocation [Abstract]
Property, Plant and Equipment, Gross	$ 0			0		1,036,000
AHFS [Member] | Radio Broadcasting Licences [Member]
Purchase price allocation [Abstract]
Total intangible assets				36,000		1,397,000
AHFS [Member] | Goodwill [Member]
Purchase price allocation [Abstract]
Total intangible assets				2,000		$ 0
KRWZAM [Member]
Unaudited Pro Forma Summary Of Financial Information
Expected gain on sale of station		$ 300,000		300,000
ProceedsFromDivestitureOfBusinesses		$ 3,800,000
Belinder [Member]
Unaudited Pro Forma Summary Of Financial Information
Expected gain on sale of station				700,000
Charlotte [Member]
Acquisition [Line Items]
Payments to Acquire Businesses, Gross				24,000,000
WQXIAM [Member]
Unaudited Pro Forma Summary Of Financial Information
Expected gain on sale of station				200,000
ProceedsFromDivestitureOfBusinesses				$ 900,000

BUSINESS COMBINATIONS - Accrued

BUSINESS COMBINATIONS - Accrued Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2015
Restructuring Reserve [Abstract]
Restructuring charges, beginning balance		$ 1,686	$ 0
IncreaseDecreaseInRestructuringReserve		0	2,858
PaymentsForRestructuring		(851)	(1,172)
Restructuring charges, ending balance	$ 835	835	1,686
RestructuringReserveNoncurrent	(669)	(669)	(687)
Restructuring Reserve Current	166	$ 166	$ 999
GoodwillPurchaseAccountingAdjustments	$ 100

CONTINGENCIES AND COMMITMENTS48

CONTINGENCIES AND COMMITMENTS (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Commitments And Contingencies Disclosure Abstract
Letter of credit requirement	$ 670	$ 670
Proceeds from legal settlements	$ 2,300