UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 22, 2017
ENTERCOM COMMUNICATIONS CORP.
(Exact Name of Registrant as Specified in Charter)
| Pennsylvania | 001-14461 | 23-1701044 | ||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
401 E. City Avenue, Suite 809 Bala Cynwyd, Pennsylvania | 19004 | |||
| (Address of Principal Executive Offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (610)660-5610
(Former Address of Principal Executive Offices)
Check the appropriate box below if the Form8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule14a-12 under the Exchange Act (17 CFR240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule14d-2(b) under the Exchange Act (17 CFR240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule13e-4(c) under the Exchange Act (17 CFR240.13e-4(c)) |
| Item 2.02. | Results of Operations and Financial Condition |
On February 22, 2017, Entercom Communications Corp. (the “Company”) issued a press release (the “Press Release”) announcing fourth quarter 2016 results. Specifically, for the fourth quarter of 2016 the Company announced:
| • | net revenues of $123.2 million; |
| • | station operating expenses of $81.5 million; |
| • | corporate general and administrative expenses of $8.4 million; |
| • | operating income of $30.0 million; and |
| • | net income available to common shareholders of $10.8 million. |
| • | net income available to common shareholders per share – basic of $0.28 and diluted of $0.27. |
In addition, the Company announced that for the year ended December 31, 2016:
| • | net revenues of $460.2 million; |
| • | station operating expenses of $318.7 million; |
| • | corporate general and administrative expenses of $33.3 million; |
| • | operating income of $98.1 million; and |
| • | net income available to common shareholders of $36.2 million. |
| • | net income available to common shareholders per share – basic of $0.94 and diluted of $0.91. |
A copy of the Press Release is attached as Exhibit 99.1 to this Current Report on Form8-K. The information in Item 2.02 of this Current Report on Form8-K and Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed to be incorporated by reference in any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
| Item 9.01. | Exhibits |
| (d) | Exhibits |
Exhibit | Title | |
| 99.1 | Entercom Communications Corp.’s Press Release, issued February 22, 2017. | |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Entercom Communications Corp. | ||
| By: | /s/ Stephen F. Fisher | |
| Stephen F. Fisher | ||
| Executive Vice President and | ||
| Chief Financial Officer | ||
Dated: February 22, 2017
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EXHIBIT INDEX
Exhibit | Title | |
| 99.1 | Entercom Communications Corp.’s Press Release, issued February 22, 2017. | |
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