Audacy (AUDAQ) 10-Q 9 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Oct. 31, 2020
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	01-14461
Entity Registrant Name	Entercom Communications Corp.
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	23-1701044
Entity Address, Address Line One	2400 Market Street
Entity Address, Address Line Two	4th Floor
Entity Address, City or Town	Philadelphia
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19103
City Area Code	(610)
Local Phone Number	660-5610
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Title of 12(b) Security	Class A Common Stock, par value $.01 per share
Trading Symbol	ETM
Security Exchange Name	NYSE
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001067837
Current Fiscal Year End Date	--12-31
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		133,939,973
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		4,045,199

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
ASSETS:
Cash	$ 32,369	$ 20,393
Accounts receivable, net of allowance of $19,143 in 2020 and $17,515 in 2019	233,392	378,912
Prepaid expenses, deposits and other	50,805	25,375
Total current assets	316,566	424,680
Investments	3,305	3,305
Property and equipment, net	344,119	350,666
Operating lease right-of-use assets	236,986	259,613
Radio broadcasting licenses	2,491,732	2,508,121
Goodwill	43,892	43,920
Assets held for sale	509	10,188
Other assets, net	32,525	43,185
TOTAL ASSETS	3,469,634	3,643,678
LIABILITIES:
Accounts payable	10,822	5,961
Accrued expenses	56,846	76,078
Other current liabilities	78,678	76,837
Operating lease liabilities	36,636	35,335
Long-term debt, current portion	5,488	16,377
Total current liabilities	188,470	210,588
Long-term debt, net of current portion	1,654,183	1,697,114
Operating lease liabilities, net of current portion	230,032	253,346
Net deferred tax liabilities	536,320	549,658
Other long-term liabilities	56,942	51,529
Total long-term liabilities	2,477,477	2,551,647
Total liabilities	2,665,947	2,762,235
CONTINGENCIES AND COMMITMENTS
SHAREHOLDERS' EQUITY:
Class A, B and C common stock	1,380	1,379
Additional paid-in capital	1,659,950	1,655,781
Accumulated deficit	(855,405)	(775,578)
Accumulated other comprehensive income (loss)	(2,238)	(139)
Total shareholders' equity	803,687	881,443
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 3,469,634	$ 3,643,678

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 19,143	$ 17,515

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
NET REVENUES	$ 268,505	$ 386,141	$ 741,403	$ 1,075,811
OPERATING EXPENSE:
Station operating expenses	228,671	273,112	668,195	801,267
Depreciation and amortization expense	12,547	11,183	37,665	33,252
Corporate general and administrative expenses	14,526	19,412	42,039	57,662
Integration costs	0	689	490	3,280
Restructuring charges	1,206	1,577	10,310	5,953
Impairment loss	11,814	0	17,021	0
Merger and acquisition costs	0	434	61	476
Other expenses related to financing	0	0	0	1,864
Net time brokerage agreement (income) fees	0	13	0	106
Net (gain) loss on sale or disposal of assets	0	231	(228)	(2,683)
Total operating expense	268,764	306,651	775,553	901,177
OPERATING INCOME (LOSS)	(259)	79,490	(34,150)	174,634
Interest expense	20,846	25,256	66,109	75,420
Loss on extinguishment of debt	0	0	0	1,781
INCOME (LOSS) BEFORE INCOME TAXES (BENEFIT)	(21,105)	54,234	(100,259)	97,433
INCOME TAX (BENEFIT) EXPENSE	(4,227)	16,026	(20,432)	30,110
NET INCOME (LOSS)	$ (16,878)	$ 38,208	$ (79,827)	$ 67,323
NET INCOME (LOSS) PER SHARE - BASIC (in dollars per share)	$ (0.13)	$ 0.28	$ (0.59)	$ 0.49
NET INCOME (LOSS) PER SHARE - DILUTED (in dollars per share)	$ (0.13)	$ 0.28	$ (0.59)	$ 0.49
WEIGHTED AVERAGE SHARES:
Basic (in shares)	134,735,075	136,449,453	134,753,276	137,944,486
Diluted (in shares)	134,735,075	136,452,995	134,753,276	138,295,091

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ (16,878)	$ 38,208	$ (79,827)	$ 67,323
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES (BENEFIT):
Net unrealized gain (loss) on derivatives, net of taxes (benefit)	515	(353)	(2,099)	(577)
COMPREHENSIVE INCOME (LOSS)	$ (16,363)	$ 37,855	$ (81,926)	$ 66,746

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Class A	Common Class B	Common Stock	Common StockCommon Class A	Common StockCommon Class B	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2018	$ 1,334,260				$ 1,372	$ 40	$ 1,693,512	$ (360,664)	$ 0
Beginning Balance (in shares) at Dec. 31, 2018					137,180,213	4,045,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	3,125							3,125
Compensation expense related to granting of stock awards	3,573				$ 14		3,559
Compensation expense related to granting of stock awards (in shares)					1,406,722
Issuance of common stock related to the Employee Stock Purchase Plan ("ESPP")	379				$ 1		378
Issuance of common stock related to the Employee Stock Purchase Plan (ESPP) (in shares)					84,958
Exercise of stock options	244				$ 2		242
Exercise of stock options (in shares)					180,300
Purchase of vested employee restricted stock units	(1,426)				$ (2)		(1,424)
Purchase of vested employee restricted stock units (in shares)					(204,499)
Payment of dividends on common stock	(12,913)						(12,913)
Dividend equivalents, net of forfeitures	(463)						(463)
Ending Balance at Mar. 31, 2019	1,331,498				$ 1,387	$ 40	1,682,891	(352,820)	0
Ending Balance (in shares) at Mar. 31, 2019					138,647,694	4,045,199
Beginning Balance at Dec. 31, 2018	1,334,260				$ 1,372	$ 40	1,693,512	(360,664)	0
Beginning Balance (in shares) at Dec. 31, 2018					137,180,213	4,045,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	67,323
Net unrealized gain (loss) on derivatives	(577)
Ending Balance at Sep. 30, 2019	1,367,870	$ 1,337	$ 40				1,655,690	(288,620)	(577)
Ending Balance (in shares) at Sep. 30, 2019		133,583,672	4,045,199
Beginning Balance at Mar. 31, 2019	1,331,498				$ 1,387	$ 40	1,682,891	(352,820)	0
Beginning Balance (in shares) at Mar. 31, 2019					138,647,694	4,045,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	25,992							25,992
Compensation expense related to granting of stock awards	3,393						3,393
Compensation expense related to granting of stock awards (in shares)					(38,774)
Issuance of common stock related to the Employee Stock Purchase Plan ("ESPP")	364				$ 1		363
Issuance of common stock related to the Employee Stock Purchase Plan (ESPP) (in shares)					73,791
Purchase of vested employee restricted stock units	(1,300)				$ (2)		(1,298)
Purchase of vested employee restricted stock units (in shares)					(216,828)
Payment of dividends on common stock	(13,140)						(13,140)
Dividend equivalents, net of forfeitures	1,059						1,059
Net unrealized gain (loss) on derivatives	(224)								(224)
Ending Balance at Jun. 30, 2019	1,347,642				$ 1,386	$ 40	1,673,268	(326,828)	(224)
Ending Balance (in shares) at Jun. 30, 2019					138,465,883	4,045,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	38,208							38,208
Compensation expense related to granting of stock awards	3,165	$ 0					3,165
Compensation expense related to granting of stock awards (in shares)		18,232
Issuance of common stock related to the Employee Stock Purchase Plan ("ESPP")	288	$ 1					287
Issuance of common stock related to the Employee Stock Purchase Plan (ESPP) (in shares)		100,965
Common stock repurchase	(18,340)			$ (50)			(18,290)
Common stock repurchase (in shares)		(5,000,000)
Purchase of vested employee restricted stock units	(4)						(4)
Purchase of vested employee restricted stock units (in shares)		(1,408)
Payment of dividends on common stock	(2,684)						(2,684)	0
Dividend equivalents, net of forfeitures	(52)						(52)	0
Net unrealized gain (loss) on derivatives	(353)								(353)
Ending Balance at Sep. 30, 2019	1,367,870	$ 1,337	$ 40				1,655,690	(288,620)	(577)
Ending Balance (in shares) at Sep. 30, 2019		133,583,672	4,045,199
Beginning Balance at Dec. 31, 2019	881,443				$ 1,339	$ 40	1,655,781	(775,578)	(139)
Beginning Balance (in shares) at Dec. 31, 2019					133,867,621	4,045,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(9,138)							(9,138)
Compensation expense related to granting of stock awards	4,117				$ 4		4,113
Compensation expense related to granting of stock awards (in shares)					440,129
Issuance of common stock related to the Employee Stock Purchase Plan ("ESPP")	241				$ 2		239
Issuance of common stock related to the Employee Stock Purchase Plan (ESPP) (in shares)					165,756
Purchase of vested employee restricted stock units	(1,394)				$ (4)		(1,390)
Purchase of vested employee restricted stock units (in shares)					(432,472)
Payment of dividends on common stock	(3,221)						(3,221)
Dividend equivalents, net of forfeitures	493						493
Net unrealized gain (loss) on derivatives	(2,354)								(2,354)
Ending Balance at Mar. 31, 2020	870,187				$ 1,341	$ 40	1,656,015	(784,716)	(2,493)
Ending Balance (in shares) at Mar. 31, 2020					134,041,034	4,045,199
Beginning Balance at Dec. 31, 2019	881,443				$ 1,339	$ 40	1,655,781	(775,578)	(139)
Beginning Balance (in shares) at Dec. 31, 2019					133,867,621	4,045,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ (79,827)
Compensation expense related to granting of stock awards (in shares)	66,000
Net unrealized gain (loss) on derivatives	$ (2,099)
Ending Balance at Sep. 30, 2020	803,687	$ 1,340	$ 40				1,659,950	(855,405)	(2,238)
Ending Balance (in shares) at Sep. 30, 2020		133,949,367	4,045,199
Beginning Balance at Mar. 31, 2020	870,187				$ 1,341	$ 40	1,656,015	(784,716)	(2,493)
Beginning Balance (in shares) at Mar. 31, 2020					134,041,034	4,045,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(53,811)							(53,811)
Compensation expense related to granting of stock awards	2,274						2,274
Compensation expense related to granting of stock awards (in shares)					(30,040)
Purchase of vested employee restricted stock units	(53)				$ (1)		(52)
Purchase of vested employee restricted stock units (in shares)					(41,002)
Payment of dividends on common stock	(189)						(189)
Dividend equivalents, net of forfeitures	162						162
Net unrealized gain (loss) on derivatives	(260)								(260)
Ending Balance at Jun. 30, 2020	818,310				$ 1,340	$ 40	1,658,210	(838,527)	(2,753)
Ending Balance (in shares) at Jun. 30, 2020					133,969,992	4,045,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(16,878)							(16,878)
Compensation expense related to granting of stock awards	1,784	$ 0					1,784
Compensation expense related to granting of stock awards (in shares)		(20,625)
Dividend equivalents, net of forfeitures	(44)						(44)
Net unrealized gain (loss) on derivatives	515								515
Ending Balance at Sep. 30, 2020	$ 803,687	$ 1,340	$ 40				$ 1,659,950	$ (855,405)	$ (2,238)
Ending Balance (in shares) at Sep. 30, 2020		133,949,367	4,045,199

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
OPERATING ACTIVITIES:
Net income (loss)	$ (79,827)	$ 67,323
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	37,665	33,252
Net amortization of deferred financing costs (net of original issue discount and debt premium)	396	(21)
Net deferred taxes (benefit) and other	(13,338)	1,596
Provision for bad debts	12,576	3,354
Net (gain) loss on sale or disposal of assets	(228)	(2,683)
Non-cash stock-based compensation expense	6,168	10,131
Net loss on extinguishment of debt	0	1,781
Deferred compensation	738	3,956
Impairment loss	17,021	0
Accretion expense, net of asset retirement obligation adjustments	46	48
Changes in assets and liabilities (net of effects of acquisitions, and dispositions):
Accounts receivable	132,944	(22,715)
Prepaid expenses, deposits and other	(25,430)	(4,765)
Accounts payable and accrued liabilities	(23,006)	5,951
Accrued interest expense	14,053	15,729
Accrued liabilities - long-term	2,198	(8,393)
Net cash provided by (used in) operating activities	81,976	104,544
INVESTING ACTIVITIES:
Additions to property and equipment	(20,706)	(61,572)
Proceeds from sale of radio stations and other assets	10,416	27,818
Purchases of radio stations	0	(15,767)
Additions to amortizable intangible assets	(1,199)	(2,003)
Purchases of investments	0	(1,500)
Net cash provided by (used in) investing activities	(11,489)	(53,024)
FINANCING ACTIVITIES:
Borrowing under the revolving senior debt	146,749	159,000
Net proceeds from the notes	0	325,000
Payments of long-term debt	(14,622)	(425,000)
Payments of revolving senior debt	(186,022)	(205,000)
Payment for debt issuance costs	0	(3,910)
Proceeds from issuance of employee stock plan	241	1,031
Proceeds from the exercise of stock options	0	244
Purchase of vested employee restricted stock units	(1,447)	(2,730)
Payment of dividends on common stock	(2,692)	(27,594)
Payment of dividend equivalents on vested restricted stock units	(718)	(1,144)
Repurchase of common stock	0	(18,340)
Net cash provided by (used in) financing activities	(58,511)	(198,443)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	11,976	(146,923)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR	20,393	192,258
CASH AND CASH EQUIVALENTS, END OF PERIOD	32,369	45,335
Cash paid during the period for:
Interest	51,482	61,163
Income taxes	$ 3,957	$ 18,481

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT POLICIES	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT POLICIES The interim unaudited condensed consolidated 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 include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, the condensed consolidated financial statements reflect all adjustments considered necessary for a fair statement of the results of operations and financial 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 consolidated financial statements and related notes included in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2019, and filed with the SEC on March 2, 2020, 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. There have been no material changes from Note 2, Significant Accounting Policies, as described in the notes to the Company’s consolidated financial statements contained in its Form 10-K for the year ended December 31, 2019, that was filed with the SEC on March 2, 2020. COVID-19 In December 2019, a novel strain of coronavirus ("COVID-19") surfaced which resulted in an outbreak of infections throughout the world. On March 11, 2020, the World Health Organization declared COVID-19 a pandemic. The COVID-19 pandemic has led to emergency measures to combat its spread, including government-issued stay-at-home orders, implementation of travel bans, restrictions and limitations on social gatherings, closures of factories, schools, public buildings and businesses and has forced the implementation of alternative work arrangements. These emergency measures have had and are expected to continue to have an adverse effect on the Company's business and operations. While the full impact of this outbreak is not yet known, the Company is closely monitoring the spread of COVID-19 and continually assessing its effects on the Company, including how it has and will continue to impact advertisers, professional sports and live events. In response to the COVID-19 pandemic, the Company has taken certain measures to mitigate the resultant financial impact, including, but not limited to: (i) temporary salary reductions implemented across senior management and the broader organization; (ii) temporary freezing of contractual salary increases in 2020; (iii) furlough and termination of select employees; (iv) suspension of new employee hiring, travel and entertainment, 401(k) matching program, employee stock purchase program, and quarterly dividend program; and (v) reduction of sales and promotions spend as well as certain consulting and other discretionary expenses. The COVID-19 pandemic has had, and is expected to continue to have, a material impact on the Company's business operations, financial position, cash flows, liquidity, and capital resources and results of operations. The full extent to which the COVID-19 pandemic impacts the Company's business, results of operations, and financial condition will depend on future developments, which are highly uncertain and cannot be accurately estimated at this time. 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 consolidated financial statements contained in its Form 10-K for the year ended December 31, 2019, that was filed with the SEC on March 2, 2020) that might have a material impact on the Company’s financial position, results of operations or cash flows. Income Taxes In December 2019, the accounting guidance for income taxes was amended to simplify accounting for certain income tax transactions. The amended accounting guidance made changes to, among other items, accounting for intraperiod tax allocations and interim period tax accounting where the year-to-date loss exceeds the expected annual loss. The Company implemented the amended accounting guidance for income taxes on January 1, 2020, without a need to make an adjustment to retained earnings. There was no impact to previously reported results of operations for any interim period. Measurement of Credit Losses In June 2016, the accounting guidance for the measurement of credit losses on financial instruments was amended to provide financial statement users with more information about the expected credit losses on financial instruments and other commitments to extend credit. The amended guidance replaced the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to determine credit loss estimates. The amended guidance eliminated the probable initial recognition threshold and, in turn, reflects an entity's current estimate of all expected credit losses. The amended guidance does not specify the method for measuring expected credit losses, and the Company is permitted to apply methods that reasonably reflect its expectations of the credit loss estimate. The Company implemented the amended accounting guidance for measurement of credit losses on January 1, 2020, without a need to make an adjustment to retained earnings. There was no impact to previously reported results of operations for any interim period. Reclassifications

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS The Company records acquisitions under the acquisition method of accounting, and allocates the purchase price 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. 2019 Cadence13 Acquisition On October 16, 2019, the Company completed its acquisition of Cadence13, Inc. ("Cadence13") by purchasing the remaining shares in Cadence13 that it did not already own. The Company initially acquired a 45% interest in Cadence13 in July 2017. The Company acquired the remaining interest in Cadence13 for a purchase price of $24.3 million in cash plus working capital (the "Cadence13 Acquisition"). In connection with this step acquisition of Cadence13, the Company remeasured its previously held equity interest to fair value and recognized a gain of $5.3 million and removed the investment in Cadence13 from its records. Upon completion of the Cadence13 Acquisition, the Company recorded the assets acquired and liabilities assumed at fair value. Based on the timing of the Cadence13 Acquisition, the Company's condensed consolidated financial statements for the nine and three months ended September 30, 2020, reflect the results of Cadence13's operations. The Company's condensed consolidated financial statements for the nine and three months ended September 30, 2019, do not reflect the results of Cadence13's operations. The allocations presented in the table below are based upon management's estimates of the fair values using valuation techniques including income, cost and market approaches. Measurement Preliminary Value Period Adjustment As Adjusted (amounts in thousands) Assets Property, plant and equipment $ 654 $ — $ 654 Total tangible property 654 — 654 Operating lease right-of-use asset 62 — 62 Deferred tax asset 2,900 28 2,928 Cadence13 brand 5,977 — 5,977 Goodwill 31,392 (28) 31,364 Total tangible and other assets 40,331 — 40,331 Operating lease liabilities (985) — (985) Net working capital (757) — (757) Preliminary fair value of net assets acquired $ 39,243 $ — $ 39,243 The aggregate fair value purchase price allocation for the assets acquired in the Cadence13 Acquisition as reported on the Company's Form 10-K filed with the SEC on March 2, 2020, was revised during nine months ended September 30, 2020 due to a change to the deferred tax assets associated with the acquired company which resulted in a decrease to acquired goodwill. 2019 Pineapple Street Media Acquisition On July 19, 2019, the Company completed a transaction to acquire the assets of Pineapple Street Media (“Pineapple”) for a purchase price of $14.0 million in cash plus working capital (the “Pineapple Acquisition”). Upon completion of the Pineapple Acquisition, the Company recorded the assets acquired and liabilities assumed at fair value. Based on this timing, the Company’s condensed consolidated financial statements for the nine and three months ended September 30, 2020 reflect the results of Pineapple’s operations. The Company’s condensed consolidated financial statements for the nine and three months ended September 30, 2019 reflect the results of Pineapple's operations for the portion of the periods after the completion of the Pineapple Acquisition. The allocations presented in the table below are based upon management’s estimate of the fair values using valuation techniques including income, cost and market approaches. The following table reflects the final allocation of the purchase price to the assets acquired and liabilities assumed. Final Value (amounts in thousands) Assets Accounts receivable $ 997 Pineapple Street Media brand 1,793 Goodwill 12,445 Total assets $ 15,235 Unearned revenue 238 Accounts payable 30 Total liabilities $ 268 Final fair value of net assets acquired $ 14,967 2019 Cumulus Exchange On February 13, 2019, the Company entered into an agreement with Cumulus Media Inc. (“Cumulus”) under which the Company exchanged three of its stations in Indianapolis, Indiana for two Cumulus stations in Springfield, Massachusetts, and one Cumulus station in New York City, New York (the “Cumulus Exchange”). The Company and Cumulus began programming the respective stations under local marketing agreements (“LMAs”) on March 1, 2019. Upon completion of the Cumulus Exchange on May 9, 2019, the Company: (i) removed from its records the assets of the divested stations, which were previously classified as assets held for sale; (ii) recorded the assets of the acquired stations at fair value; and (iii) recognized a loss on the exchange transaction of approximately $1.8 million. Based on the timing of the Cumulus Exchange, the Company’s condensed consolidated financial statements for the nine and three months ended September 30, 2020: (i) reflect the results of the acquired stations; and (ii) do not reflect the results of the divested stations. The Company’s condensed consolidated financial statements for the nine months ended September 30, 2019: (i) reflect the results of the acquired stations for the portion of the period in which the LMAs were in effect and after the completion of the Cumulus Exchange; and (ii) reflect the results of the divested stations for the portion of the period until the commencement date of the LMAs. The Company's condensed consolidated financial statements for the three months ended September 30, 2019: (i) reflect the results of the stations acquired in the Cumulus Exchange; and (ii) do not reflect the results of the divested stations. The following table reflects the final allocation of the purchase price to the assets acquired. Final Value (amounts in thousands) Assets Equipment $ 844 Total tangible property 844 Radio broadcasting licenses 19,576 Goodwill 2,080 Total intangible and other assets 21,656 Total assets $ 22,500 Final fair value of net assets acquired $ 22,500 Integration Costs The Company incurred integration costs of $0.5 million and $3.3 million during the nine months ended September 30, 2020 and September 30, 2019, respectively. Integration costs were expensed as a separate line item in the condensed consolidated statements of operations. These costs primarily relate to change management consultants and technology-related costs incurred subsequent to the CBS Radio business acquisition in November 2017 (the "Merger"). Unaudited Pro Forma Summary of Financial Information The following unaudited pro forma information for the nine and three months ended September 30, 2020 and September 30, 2019 assumes that the acquisitions in 2019 had occurred as of January 1, 2019. Refer to information within this Note 2, Business Combinations, and to the consolidated financial statements and related notes included in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2019, and filed with the SEC on March 2, 2020, for a description of the Company’s acquisition and disposition activities. The unaudited pro forma information presented gives effect to certain adjustments, including: (i) depreciation and amortization of assets; (ii) change in the effective tax rate; (iii) merger and acquisition costs; and (iv) interest expense on any debt incurred to fund the acquisitions which would have been incurred had such acquisitions been consummated at an earlier time. This unaudited pro forma information has been prepared based on estimates and assumptions, which management believes are reasonable. These unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what would have occurred had the acquisitions been made as of that date or results which may occur in the future. Three Months Ended Nine Months Ended 2020 2019 2020 2019 (amounts in thousands except share and per share data) Actual Pro Forma Actual Pro Forma Net revenues $ 268,505 $ 398,182 $ 741,403 $ 1,112,202 Net income (loss) $ (16,878) $ 40,199 $ (79,827) $ 66,596 Net income (loss) per common share - basic $ (0.13) $ 0.29 $ (0.59) $ 0.48 Net income (loss) per common share - diluted $ (0.13) $ 0.29 $ (0.59) $ 0.48 Weighted shares outstanding basic 134,735,075 136,449,453 134,753,276 137,944,486 Weighted shares outstanding diluted 134,735,075 136,452,995 134,753,276 138,295,091

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES Restructuring Charges Restructuring charges were expensed as a separate line item in the condensed consolidated statements of operations. The components of restructuring charges are as follows: Nine Months Ended 2020 2019 (amounts in thousands) Workforce reduction 10,218 5,283 Other restructuring costs 92 670 Total restructuring charges $ 10,310 $ 5,953 Three Months Ended 2020 2019 (amounts in thousands) Workforce reduction 1,149 1,489 Other restructuring costs 57 88 Total restructuring charges $ 1,206 $ 1,577 Restructuring Plan During the first quarter of 2020, the Company initiated a restructuring plan to help mitigate the adverse impact that the COVID-19 pandemic is having on financial results and business operations. The Company continues to evaluate what, if any further actions may be necessary related to the COVID-19 pandemic. During the fourth quarter of 2017, the Company initiated a restructuring plan as a result of the integration of radio stations acquired from CBS Radio Inc. ("CBS Radio") in November 2017. The restructuring plan included: (i) workforce reduction and realignment charges that included one-time termination benefits and related costs; and (ii) costs associated with realigning radio stations within the overlap markets between CBS Radio and the Company. The estimated amount of unpaid restructuring charges as of September 30, 2020 includes amounts in accrued expenses that are expected to be paid in less than one year and long-term restructuring costs for lease abandonment costs covering the remaining non-cancellable lease term. Nine Months Ended September 30, 2020 Twelve Months Ended December 31, 2019 (amounts in thousands) Restructuring charges, beginning balance $ 4,251 $ 7,077 Additions 10,310 6,976 Payments (11,533) (9,802) Restructuring charges unpaid and outstanding 3,028 4,251 Restructuring charges - noncurrent portion (1,052) (1,483) Restructuring charges - current portion $ 1,976 $ 2,768

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2020
Revenues [Abstract]
REVENUE	REVENUE The following is a description of principal activities from which the Company generates its revenue. Spot Revenues The Company sells air-time to advertisers and broadcasts commercials at agreed upon dates and times. The Company's performance obligations are broadcasting advertisements for advertisers at specifically identifiable days and dayparts. The amount of consideration the Company receives and revenue it recognizes is fixed based upon contractually agreed upon rates. The Company recognizes revenue at a point in time when the advertisements are broadcast and the performance obligations are satisfied. Revenues are recorded on a net basis, after the deduction of advertising agency fees by the advertising agencies. Digital Revenues The Company provides targeted advertising through the sale of streaming and display advertisements on its national platforms, RADIO.COM and eventful.com, and its station websites. Performance obligations include delivery of advertisements over the Company's platforms or delivery of targeted advertisements directly to consumers. The Company recognizes revenue at a point in time when the advertisements are delivered and the performance obligations are satisfied. Revenues are recorded on a net basis, after the deduction of advertising agency fees by the advertising agencies. Through its acquisition of Cadence13, the Company embeds advertisements in its owned and operated podcasts and other on-demand content. Performance obligations include delivery of advertisements. The Company recognizes revenue at a point in time when the advertisements are delivered and the performance obligations are satisfied. Revenues are recorded on a net basis, after the deduction of advertising agency fees by the advertising agencies. Through its acquisition of Pineapple, the Company creates podcasts, for which it earns production fees. Performance obligations include the delivery of episodes. These revenues are fixed based upon contractually agreed upon terms. The Company recognizes revenue over the term of the production contract. Network Revenues The Company sells air-time on the Company's Entercom Audio Network. The amount of consideration the Company receives and revenue it recognizes is fixed based upon contractually agreed upon rates. The Company recognizes revenue at a point in time when the advertisements are broadcast and the performance obligations are satisfied. Revenues are recorded on a net basis, after the deduction of advertising agency fees by the advertising agencies. Sponsorships and Event Revenues The Company sells advertising space at live and local events hosted by the Company across the country. The Company also earns revenues from attendee-driven ticket sales and merchandise sales. Performance obligations include the presentation of the advertisers' branding in highly visible areas at the event. These revenues are recognized at a point in time, as the event occurs and the performance obligations are satisfied. The Company also sells sponsorships including, but not limited to, naming rights related to its programs or studios. Performance obligations include the mentioning or displaying of the sponsors' name, logo, product information, slogan or neutral descriptions of the sponsors' goods or services in acknowledgement of their support. These revenues are fixed based upon contractually agreed upon terms. The Company recognizes revenue over the length of the sponsorship agreement based upon the fair value of the deliverables included. Other Revenues The Company earns revenues from on-site promotions and endorsements from talent. Performance obligations include the broadcasting of such endorsement at specifically identifiable days and dayparts or at various local events. The Company recognizes revenue at a point in time when the performance obligations are satisfied. The Company earns trade and barter revenue by providing advertising broadcast time in exchange for certain products, supplies, and services. The Company includes the value of such exchanges in both net revenues and station operating expenses. Trade and barter value is based upon management's estimate of the fair value of the products, supplies and services received. Contract Balances Refer to the table below for information about receivables, contract assets and contract liabilities from contracts with customers. Accounts receivable balances in the table below exclude other receivables that are not generated from contracts with customers. These amounts are $2.2 million and $5.1 million as of September 30, 2020 and December 31, 2019, respectively. Description September 30, December 31, (amounts in thousands) Receivables, included in "Accounts receivable net of allowance for doubtful accounts" $ 231,211 $ 376,504 Unearned revenue - current 11,814 9,894 Unearned revenue - noncurrent 1,499 2,113 Changes in Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables, and customer advances and deposits (unearned revenue) on the Company’s condensed consolidated balance sheet. At times, however, the Company receives advance payments or deposits from its customers before revenue is recognized, resulting in contract liabilities. The contract liabilities primarily relate to the advance consideration received from customers on certain contracts. For these contracts, revenue is recognized in a manner that is consistent with the satisfaction of the underlying performance obligations. The contract liabilities are reported on the condensed consolidated balance sheet on a contract-by-contract basis at the end of each respective reporting period within the other current liabilities and other long-term liabilities line items. Significant changes in the contract liabilities balances during the period are as follows: Nine Months Ended Description Unearned Revenue (amounts in thousands) Beginning balance on January 1, 2020 $ 12,007 Revenue recognized during the period that was included in the beginning balance of contract liabilities (1,936) Additional amounts recognized during period 3,242 Ending balance $ 13,313 Disaggregation of Revenue The following table presents the Company’s revenues disaggregated by revenue source: Nine Months Ended 2020 2019 Revenue by Source (amounts in thousands) Spot revenues $ 488,891 $ 805,161 Digital revenues 131,188 98,430 Network revenues 56,889 56,260 Sponsorships and event revenues 32,871 61,684 Other revenues 31,564 54,276 Net revenues $ 741,403 $ 1,075,811 Three Months Ended 2020 2019 Revenue by Source (amounts in thousands) Spot revenues $ 183,011 $ 288,927 Digital revenues 47,337 33,473 Network revenues 18,908 23,035 Sponsorships and event revenues 8,776 22,470 Other revenues 10,473 18,236 Net revenues $ 268,505 $ 386,141

LEASES

LEASES	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
LEASES	LEASES Leasing Guidance The Company recognizes the assets and liabilities that arise from leases on the commencement date of the lease. The Company recognizes the liability to make lease payments as a lease liability as well as a right-of-use ("ROU") asset representing the right to use the underlying asset for the lease term, on the condensed consolidated balance sheet. Lease Expense The components of lease expense were as follows: Nine Months Ended September 30, Lease Cost 2020 2019 (amounts in thousands) Operating lease cost $ 36,664 $ 37,733 Variable lease cost 7,808 $ 7,029 Short-term lease cost — $ 182 Total lease cost $ 44,472 $ 44,944 Three Months Ended Lease Cost 2020 2019 (amounts in thousands) Operating lease cost $ 12,351 $ 12,682 Variable lease cost 2,610 2,478 Short-term lease cost — 5 Total lease cost $ 14,961 $ 15,165 Supplemental Cash Flow Supplemental cash flow information related to leases was as follows: Nine Months Ended September 30, Description 2020 2019 (amounts in thousands) Cash paid for amounts included in measurement of lease liabilities Operating cash flows from operating leases $ 44,572 $ 38,991 Right-of-use assets obtained in exchange for lease obligations Operating leases (1) $ 6,826 $ 304,650 (1) ROU assets obtained in exchange for lease obligations in 2019 include transition liabilities upon implementation of the amended leasing guidance, as well as new leases entered into during the nine months ended September 30, 2019. As of September 30, 2020, the Company has not entered into any leases that have not yet commenced.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	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 value is less than the carrying value of the reporting unit, then a charge is recorded to the results of operations. The following table presents the changes in the carrying value of broadcasting licenses. Broadcasting Licenses September 30, December 31, (amounts in thousands) Broadcasting licenses balance as of January 1, $ 2,508,121 $ 2,516,625 Disposition of radio stations (See Note 2) — (17,940) Acquisitions (See Note 2) — 19,576 Loss on impairment (15,957) — Assets held for sale (See Note 14) (432) (10,140) Ending period balance $ 2,491,732 $ 2,508,121 The following table presents the changes in goodwill. Refer to Note 2, Business Combinations, for additional information. Goodwill Carrying Amount September 30, December 31, (amounts in thousands) Goodwill balance before cumulative loss on impairment as of January 1, $ 1,024,467 $ 982,663 Accumulated loss on impairment as of January 1, (980,547) (443,194) Goodwill beginning balance after cumulative loss on impairment as of January 1, 43,920 539,469 Loss on impairment during year — (537,353) Dispositions (See Note 2) — (4,862) Acquisitions (See Note 2) — 46,666 Measurement period adjustments to acquired goodwill (See Note 2) (28) — Ending period balance $ 43,892 $ 43,920 Interim Impairment Assessment In evaluating whether events or changes in circumstances indicate that an interim impairment assessment is required, management considers several factors in determining whether it is more likely than not that the carrying value of the Company’s broadcasting licenses or goodwill exceeds the fair value of the Company’s broadcasting licenses or goodwill. The analysis considers: (i) macroeconomic conditions such as deterioration in general economic conditions, limitations on accessing capital, or other developments in equity and credit markets; (ii) industry and market considerations such as deterioration in the environment in which the Company operates, an increased competitive environment, a change in the market for the Company’s products or services, or a regulatory or political development; (iii) cost factors such as increases in labor or other costs that have a negative effect on earnings and cash flows; (iv) overall financial performance such as negative or declining cash flows or a decline in actual or planned revenue or earnings compared with actual and projected results of relevant prior periods; (v) other relevant entity-specific events such as changes in management, key personnel, strategy, or customers, bankruptcy, or litigation; (vi) events affecting a reporting unit such as a change in the composition or carrying amount of the Company’s net assets; and (vii) a sustained decrease in the Company’s share price. The Company evaluates the significance of identified events and circumstances on the basis of the weight of evidence along with how they could affect the relationship between the carrying value of the Company’s broadcasting licenses and goodwill and their respective fair value amounts, including positive mitigating events and circumstances. Subsequent to the annual impairment test conducted during the fourth quarter of 2019, the Company continued to monitor these factors listed above. Due to the current economic and market conditions related to the COVID-19 pandemic, and a contraction in the expected future economic and market conditions utilized in the annual impairment test conducted in the fourth quarter of 2019, the Company determined that the changes in circumstances warranted an interim impairment assessment on its broadcasting licenses during the second quarter of the current year. Due to changes in facts and circumstances, the Company revised its estimates with respect to projected operating performance and discount rates used in the interim impairment assessment. Subsequent to the interim impairment assessment conducted during the second quarter of the current year, the Company continued to monitor these factors listed above. Due to the current economic and market conditions related to the COVID-19 pandemic, and a further contraction in the expected future economic and market conditions utilized in the interim impairment assessment conducted in the second quarter of the current year, primarily a decrease in market-specific revenue forecasts, the Company determined that changes in circumstances warranted an interim impairment assessment on certain of its broadcasting license during the third quarter of the current year. After assessing the totality of events and circumstances listed above, the Company determined that it was more likely than not that the fair value of the Company's goodwill, which is solely attributable to the podcasting reporting unit, was greater than its carrying amount. Accordingly, the Company did not conduct an impairment test on its goodwill during the current year. Broadcasting Licenses Impairment Test During the second quarter of the current year, the Company completed an interim impairment test for its broadcasting licenses at the market level using the Greenfield method. As a result of this interim impairment assessment, the Company determined that the fair value of its broadcasting licenses was less than the amount reflected in the balance sheet for certain of the Company’s markets and, accordingly, recorded an impairment loss of $4.1 million, ($3.0 million, net of tax). During the third quarter of the current year, the Company completed an interim impairment test for certain of its broadcasting licenses at the market level using the Greenfield method. As a result of this interim impairment assessment, the Company determined that the fair value of its broadcasting licenses was less than the amount reflected in the balance sheet for certain of the Company's markets and, accordingly, recorded an impairment loss of $11.8 million, ($8.7 million, net of tax). Each 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: (i) the discount rate; (ii) the profit margin of an average station within a market, based upon market size and station type; (iii) the forecast growth rate of each radio market; (iv) the estimated capital start-up costs and losses incurred during the early years; (v) the likely media competition within the market area; (vi) the tax rate; and (vii) 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 (i) through (iii) above are the most important and sensitive in the determination of fair value. Assumptions and Results - Broadcasting Licenses The following table reflects the estimates and assumptions used in the interim and annual broadcasting licenses impairment assessments for each respective period. Estimates And Assumptions Third Quarter 2020 Second Quarter 2020 Fourth Quarter 2019 Discount rate 7.50 % 8.00 % 8.50 % Operating profit margin ranges expected for average stations in the markets where the Company operates 24% to 36% 22% to 36% 18% to 36% Forecasted growth rate (including long-term growth rate) range of the Company's markets 0.0% to 0.7% 0.0% to 0.8% 0.0% to 0.8% The Company believes it has made reasonable estimates and assumptions to calculate the fair value of its broadcasting licenses. These estimates and assumptions could be materially different from actual results. If actual market conditions are less favorable than those projected by the industry or the Company, or if events occur or circumstances change that would reduce the fair value of the Company’s broadcasting licenses below the amount reflected in the condensed consolidated balance sheet, the Company may be required to conduct an interim test and possibly recognize impairment charges, which may be material, in future periods. The COVID-19 pandemic increases the uncertainty with respect to such market and economic conditions and, as such, increases the risk of future impairment. Goodwill Impairment Test The Company determined that it was more likely than not that the fair value of the podcasting reporting unit's goodwill exceeded its carrying value. Accordingly, the Company did not proceed with conducting an interim impairment assessment during the current year. 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 condensed consolidated balance sheet, the Company may be required to conduct an interim test and possibly recognize impairment charges, which could be material, in future periods. The COVID-19 pandemic increases the uncertainty with respect to such market and economic conditions and, as such, increases the risk of future impairment.

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	9 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
OTHER CURRENT LIABILITIES	OTHER CURRENT LIABILITIES Other current liabilities consist of the following as of the periods indicated: Other Current Liabilities September 30, December 31, (amounts in thousands) Accrued compensation $ 22,378 $ 28,871 Accounts receivable credits 1,733 3,798 Advertiser obligations 3,621 4,095 Accrued interest payable 23,934 9,882 Unearned revenue 11,814 9,894 Unfavorable sports liabilities 4,634 4,634 Accrued benefits 4,983 6,321 Non-income tax liabilities 1,723 1,685 Income taxes payable 185 3,925 Other 3,673 3,732 Total other current liabilities $ 78,678 $ 76,837

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt was comprised of the following as of the periods indicated: Long-Term Debt September 30, December 31, (amounts in thousands) Credit Facility Revolver $ 77,727 $ 117,000 Term B-2 Loan, due November 17, 2024 755,378 770,000 Plus unamortized premium 1,752 1,968 834,857 888,968 Notes 6.500% notes due May 1, 2027 425,000 425,000 Plus unamortized premium 4,489 5,000 429,489 430,000 Senior Notes 7.25% senior unsecured notes, due November 1, 2024 400,000 400,000 Plus unamortized premium 9,912 11,732 409,912 411,732 Other debt 808 873 Total debt before deferred financing costs 1,675,066 1,731,573 Current amount of long-term debt (5,488) (16,377) Deferred financing costs (excludes the revolving credit) (15,395) (18,082) Total long-term debt $ 1,654,183 $ 1,697,114 Outstanding standby letters of credit $ 6,834 $ 5,862 (A) Senior Debt The Company's credit agreement (the "Credit Facility") has usual and customary covenants including, but not limited to, a net first lien leverage ratio, restricted payments and the incurrence of additional debt. Specifically, the Credit Facility requires the Company to comply with a certain financial covenant which is a defined term within the agreement, including a maximum Consolidated Net First-Lien Leverage Ratio that cannot exceed 4.0 times. In certain circumstances, if the Company consummates additional acquisition activity permitted under the terms of the Credit Facility, the Consolidated Net First-Lien Leverage Ratio will be increased to 4.5 times for a one year period following the consummation of such permitted acquisition. Credit Facility - Amendment No. 5 On July 20, 2020, Entercom Media Corp., a wholly-owned subsidiary of the Company, entered into an amendment ("Amendment No. 5") to the Credit Agreement, dated October 17, 2016 (as previously amended, the "Existing Credit Agreement" and, as amended by Amendment No. 5, the "Credit Agreement"), with the guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent. Amendment No. 5, among other things: (a) amended the Company's financial covenants under the Credit Agreement by: (i) suspending the testing of the Consolidated Net First Lien Leverage Ratio (as defined in the Credit Agreement) through the Test Period (as defined in the Credit Agreement) ending December 31, 2020; (ii) adding a new minimum liquidity covenant of $75.0 million until December 31, 2021, or such earlier date as the Company may elect (the "Covenant Relief Period"); and (iii) imposing certain restrictions during the Covenant Relief Period, including among other things, certain limitations on incurring additional indebtedness and liens, making restricted payments or investments, redeeming notes and entering into certain sale and lease-back transactions; (b) increased the interest rate and/or fees under the Credit Agreement during the Covenant Relief Period applicable to: (i) 2024 Revolving Credit Loans (as defined in the Credit Agreement) to (x) in the case of Eurodollar Rate Loans (as defined in the Credit Agreement), a customary Eurodollar rate formula plus a margin of 2.50% per annum, and (y) in the case of Base Rate Loans (as defined in the Credit Agreement), a customary base rate formula plus a margin of 1.50% per annum, and (ii) Letter of Credit (as defined in the Credit Agreement) fees to 2.50% times the daily maximum amount available to be drawn under any such Letter of Credit; and (c) modified the definition of Consolidated EBITDA by setting fixed amounts for the fiscal quarters ending June 30, 2020, September 30, 2020, and December 31, 2020, for purposes of testing compliance with the Consolidated Net First Lien Leverage Ratio financial covenant during the Covenant Relief Period, which fixed amounts correspond to the Borrower's Consolidated EBITDA as reported under the Existing Credit Agreement for the Test Period ended March 31, 2020, for the fiscal quarters ending June 30, 2019, September 30, 2019, and December 31, 2019, respectively. Failure to comply with the Company’s financial covenant or other terms of its Credit Facility and any subsequent failure to negotiate and obtain any required relief from its lenders could result in a default under the Company’s Credit Facility. Any event of default could have a material adverse effect on the Company’s business and financial condition. The acceleration of the Company’s debt repayment could have a material adverse effect on its business. The Company may seek from time to time to amend its Credit Facility or obtain other funding or additional funding, which may result in higher interest rates. As of September 30, 2020, the Company is in compliance with the financial covenant and all other terms of the Credit Facility in all material respects. The Company’s ability to maintain compliance with its covenant is highly dependent on its results of operations. The cash available from the Revolver is dependent on the Company’s Consolidated Net First-Lien Leverage Ratio at the time of such borrowing. (B) Net Interest Expense The components of net interest expense are as follows: Net Interest Expense Nine Months Ended 2020 2019 (amounts in thousands) Interest expense $ 65,783 $ 76,190 Amortization of deferred financing costs 2,942 2,227 Amortization of original issue discount (premium) of senior notes (2,546) (2,248) Interest income and other investment income (70) (749) Total net interest expense $ 66,109 $ 75,420 Net Interest Expense Three Months Ended 2020 2019 (amounts in thousands) Interest expense $ 20,723 $ 25,203 Amortization of deferred financing costs 999 755 Amortization of original issue discount (premium) of senior notes (849) (678) Interest income and other investment income (27) (24) Total net interest expense $ 20,846 $ 25,256

DERIVATIVE AND HEDGING ACTIVITI

DERIVATIVE AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE AND HEDGING ACTIVITIES	DERIVATIVE AND HEDGING ACTIVITIES The Company from time to time enters into derivative financial instruments, such as interest rate collar agreements (“Collars”), to manage its exposure to fluctuations in interest rates under the Company’s variable rate debt. Hedge Accounting Treatment As of September 30, 2020, the Company had the following derivative outstanding, which was designated as a cash flow hedge that qualified for hedge accounting treatment: Type Notional Effective Collar Fixed Expiration Notional Amount (amounts (amounts Cap 2.75% Jun. 28, 2021 $ 340.0 Collar $ 460.0 Jun. 25, 2019 Floor 0.402% Jun. 28, 2024 Jun. 28, 2022 $ 220.0 Jun. 28, 2023 $ 90.0 Total $ 460.0 For the nine months ended September 30, 2020, the Company recorded the net change in the fair value of this derivative as a loss of $2.9 million (net of a tax benefit of $0.8 million as of September 30, 2020) to the condensed consolidated statement of comprehensive income (loss). The fair value of this derivative was determined using observable market-based inputs (a Level 2 measurement) and the impact of credit risk on a derivative’s fair value (the creditworthiness of the Company for liabilities). As of September 30, 2020, the fair value of these derivatives was a liability of $3.1 million, and is recorded as other long-term liabilities on the condensed consolidated balance sheet. The Company expects to reclassify approximately $1.1 million of this amount to the condensed consolidated statement of operations over the next twelve months. The following table presents the accumulated derivative gain (loss) recorded in other comprehensive income (loss) as of September 30, 2020 and December 31, 2019: Accumulated Derivative Gain (Loss) Description September 30, December 31, (amounts in thousands) Accumulated derivative unrealized gain (loss) $ (2,238) $ (139) The following tables present the accumulated net derivative gain (loss) recorded in other comprehensive income (loss) for the nine and three months ended September 30, 2020 and September 30, 2019. Other Comprehensive Income (Loss) Net Change in Accumulated Derivative Unrealized Gain (Loss) Net Amount of Accumulated Derivative Gain (Loss) Reclassified to the Consolidated Statement of Operations Nine Months Ended September 30, 2020 2019 2020 2019 (amounts in thousands) $ (2,099) $ (577) $ 364 $ — Other Comprehensive Income (Loss) Net Change in Accumulated Derivative Unrealized Gain (Loss) Net Amount of Accumulated Derivative Gain (Loss) Reclassified to the Condensed Consolidated Statement of Operations Three Months Ended September 30, 2020 2019 2020 2019 (amounts in thousands) $ 515 $ (353) $ 249 $ — Undesignated Derivatives The Company is subject to equity market risks due to changes in the fair value of the notional investments selected by its employees as part of its non-qualified deferred compensation plans. During the quarter ended June 30, 2020, the Company entered into a Total Return Swap ("TRS") in order to manage the equity market risks associated with its non-qualified deferred compensation plan liabilities. The Company pays a floating rate, based on LIBOR, on the notional amount of the TRS. The TRS is designed to substantially offset changes in its non-qualified deferred compensation plan's liabilities due to changes in the value of the investment options made by employees. As of September 30, 2020, the notional investments underlying the TRS amounted to $23 million. The contract term of the TRS is through April 2021 and is settled on a monthly basis, therefore limiting counterparty performance risk. The Company did not designate the TRS as an accounting hedge. Rather, the Company records all changes in the fair value of the TRS to earnings to offset the market value changes of its non-qualified deferred compensation plan liabilities.

NET INCOME (LOSS) PER COMMON SH

NET INCOME (LOSS) PER COMMON SHARE	9 Months Ended
	Sep. 30, 2020
Earnings Per Share, Basic and Diluted [Abstract]
NET INCOME (LOSS) PER COMMON SHARE	NET INCOME (LOSS) PER COMMON SHARE The following tables present the computations of basic and diluted net income (loss) per share from continuing operations: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (amounts in thousands except per share data) Basic Income (Loss) Per Share Numerator Net income (loss) $ (16,878) $ 38,208 $ (79,827) $ 67,323 Denominator Basic weighted average shares outstanding 134,735 136,449 134,753 137,944 Net income (loss) per share - Basic $ (0.13) $ 0.28 $ (0.59) $ 0.49 Diluted Income (Loss) Per Share Numerator Net income (loss) $ (16,878) $ 38,208 $ (79,827) $ 67,323 Denominator Basic weighted average shares outstanding 134,735 136,449 134,753 137,944 Effect of RSUs and options under the treasury stock method — 4 — 351 Diluted weighted average shares outstanding 134,735 136,453 134,753 138,295 Net income (loss) per share - Diluted $ (0.13) $ 0.28 $ (0.59) $ 0.49 Disclosure of Anti-Dilutive Shares The following table presents those shares excluded as they were anti-dilutive: Three Months Ended Nine Months Ended Impact Of Equity Issuances 2020 2019 2020 2019 (amounts in thousands, except per share data) Shares excluded as anti-dilutive under the treasury stock method: Options 609 545 609 549 Price range of options: from $ 3.54 $ 6.43 $ 3.54 $ 6.43 Price range of options: to $ 13.98 $ 13.98 $ 13.98 $ 13.98 RSUs with service conditions 2,464 3,555 2,626 1,939 RSUs excluded with service and market conditions as market conditions not met 199 70 199 70 Excluded shares as anti-dilutive when reporting a net loss — — 73 —

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	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 year-to-date period ended September 30, 2020: Period Ended Number of Restricted Stock Units Weighted Average Purchase Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value as of September 30, (amounts in thousands) RSUs outstanding as of: December 31, 2019 3,861 RSUs awarded September 30, 2020 580 RSUs released September 30, 2020 (1,599) RSUs forfeited September 30, 2020 (190) RSUs outstanding as of: September 30, 2020 2,652 $ — 1.2 $ 4,296 RSUs vested and expected to vest as of: September 30, 2020 2,652 $ — 1.2 $ 4,296 RSUs exercisable (vested and deferred) as of: September 30, 2020 41 $ — 0 $ 67 Weighted average remaining recognition period in years 2.0 Unamortized compensation expense $ 12,073 RSUs with Service and Market Conditions The Company issued RSUs with service and market conditions that are included in the table above. Option Activity The following table provides summary information related to the exercise of stock options: Nine Months Ended Option Exercise Data 2020 2019 (amounts in thousands) Intrinsic value of options exercised $ — $ 1,272 Tax benefit from options exercised (1) $ — $ 73 Cash received from exercise price of options exercised $ — $ 244 (1) Amounts exclude any impact from any compensation expense subject to Section 162(m) of the Code, which is nondeductible for income tax purposes. The following table presents the option activity under the Plan during the current year-to-date period ended September 30, 2020: Period Ended Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Intrinsic Value as of September 30 (amounts in thousands) Options outstanding as of: December 31, 2019 543 $ 12.06 Options granted September 30, 2020 66 5.40 Options outstanding as of: September 30, 2020 609 $ 11.33 4.0 $ — Options vested and expected to vest as of: September 30, 2020 609 $ 11.33 4.0 $ — Options vested and exercisable as of: September 30, 2020 543 $ 12.06 3.5 $ — Weighted average remaining recognition period in years 0.7 Unamortized compensation expense $ 37 The following table summarizes significant ranges of outstanding and exercisable options as of the current period: Options Outstanding Options Exercisable Range of Number of Options Outstanding September 30, Weighted Weighted Number of Options Exercisable September 30, Weighted From To $ 3.54 7.01 66,775 8.7 5.40 — $ — $ 9.66 13.98 542,582 3.5 12.06 542,582 $ 12.06 $ 3.54 13.98 609,357 4.0 11.33 542,582 $ 12.06 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 the Company’s statement of operations: Nine Months Ended 2020 2019 (amounts in thousands) Station operating expenses $ 1,552 $ 3,765 Corporate general and administrative expenses 4,616 6,521 Stock-based compensation expense included in operating expenses 6,168 10,286 Income tax benefit (1) 1,452 2,258 After-tax stock-based compensation expense $ 4,716 $ 8,028 Three Months Ended 2020 2019 (amounts in thousands) Station operating expenses $ 524 $ 1,107 Corporate general and administrative expenses 1,421 2,234 Stock-based compensation expense included in operating expenses 1,945 3,341 Income tax benefit (1) 480 770 After-tax stock-based compensation expense $ 1,465 $ 2,571 (1) Amounts exclude impact from any compensation expense subject to Section 162(m) of the Code, which is nondeductible for income tax purposes.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Tax Rates for the Nine Months and Three Months Ended September 30, 2020 The Company recognized an income tax benefit for the nine and three months ended September 30, 2020 at effective income tax rates of 20.4% and 20.0%, respectively, which was determined using a forecasted rate based upon projected taxable income for the full year. The effective income tax rate for the period was impacted by a discrete income tax expense item related to the shortfall associated with share-based awards. The Company estimates that its 2020 annual tax rate before discrete items, will be between 22% and 24%. The Company anticipates that it will be able to utilize certain net operating loss carryforwards to reduce future payments of federal and state income taxes. On March 27, 2020, the United States enacted the Coronavirus Aid, Relief and Economic Security Act (the "CARES Act"). The CARES Act is an emergency economic stimulus package that includes spending and tax breaks to strengthen the United States economy and fund a nationwide effort to curtail the effects of the COVID-19 pandemic. The CARES Act includes significant business tax provisions that, among other things, includes the removal of certain limitations on the utilization of net operating losses, increases the loss carry back period for certain losses to five years, and increases the ability to deduct interest expense, as well as amending certain provisions of the previously enacted Tax Cuts and Jobs Act. The Company determined the CARES Act will not have a material impact on its overall income tax expense. Tax Rates for the Nine Months and Three Months Ended September 30, 2019 The effective income tax rates were 30.9% and 29.5% for the nine months and three months ended September 30, 2019, respectively, which was determined using a forecasted rate based upon projected taxable income for the full year. Net Deferred Tax Assets and Liabilities 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 differences 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. The Company's net deferred tax liabilities primarily relate to differences between book and tax bases of certain indefinite-lived intangible assets (broadcasting licenses). A reversal of deferred tax liabilities may occur when indefinite-lived intangible assets become impaired or are sold.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS Fair Value of Financial Instruments Subject to Fair Value Measurements Recurring Fair Value Measurements The following table sets 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. During the periods presented, there were no transfers between fair value hierarchical levels. Fair Value Measurements At Reporting Date Description Balance at September 30, Quoted prices in active markets Level 1 Significant other observable inputs Level 2 Significant unobservable inputs Level 3 Measured at Net Asset Value as a Practical Expedient (2) (amounts in thousands) Liabilities Deferred compensation plan liabilities (1) $ 30,728 $ 24,380 $ — $ — $ 6,348 Interest Rate Cash Flow Hedge (3) $ 3,051 $ — $ 3,051 $ — $ — Description Balance at December 31, Quoted prices in active markets Level 1 Significant other observable inputs Level 2 Significant unobservable inputs Level 3 Measured at Net Asset Value as a Practical Expedient (2) (amounts in thousands) Liabilities Deferred compensation plan liabilities (1) $ 33,229 $ 25,592 $ — $ — $ 7,637 Interest Rate Cash Flow Hedge (3) $ 189 $ — $ 189 $ — $ — (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. (2) The fair value of underlying investments in collective trust funds is determined using the net asset value (“NAV”) provided by the administrator of the fund as a practical expedient. The NAV is determined by each fund’s trustee based upon the fair value of the underlying assets owned by the fund, less liabilities, divided by outstanding units. In accordance with appropriate accounting guidance, these investments have not been classified in the fair value hierarchy. (3) The Company’s interest rate collar, which is included in other long-term liabilities, is recorded at fair value on a recurring basis. The derivatives are not exchange listed and therefore the fair value is estimated using models that reflect the contractual terms of the derivative, yield curves, and the credit quality of the counterparties. The models also incorporate the Company’s creditworthiness in order to appropriately reflect non-performance risk. Inputs are generally observable and do not contain a high level of subjectivity. 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 value. During the second quarter of 2020, the Company reviewed the fair value of its broadcasting licenses. As a result of this assessment, the Company concluded that certain of its broadcasting licenses were impaired as the fair value of these assets was less than their carrying value. Accordingly, the Company recorded a $4.1 million impairment charge ($3.0 million, net of tax) on its broadcasting licenses in the second quarter of 2020. During the third quarter of 2020, the Company reviewed the fair value of certain of its broadcasting licenses. As a result of this assessment, the Company concluded that certain of its broadcasting licenses were impaired as the fair value of these assets was less than their carrying value. Accordingly, the Company recorded an $11.8 million impairment ($8.7 million, net of tax) on its broadcasting licenses in the third quarter of 2020. The Company performs reviews of its ROU assets for impairment when evidence exists that the carrying value of an asset may not be recoverable. The Company recorded an immaterial impairment charge related to ROU asset impairment during the nine months ended September 30, 2020. During the nine months ended September 30, 2020, there were no events or changes in circumstances which indicated the Company’s investments, property and equipment, goodwill, other intangible assets, or assets held for sale may not be recoverable. 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: (i) cash and cash equivalents; (ii) accounts receivable; and (iii) accounts payable, including accrued liabilities. The following table presents the carrying value of financial instruments and, where practicable, the fair value as of the dates indicated: September 30, December 31, Carrying Value Fair Value Carrying Value Fair Value (amounts in thousands) Term B-2 Loan (1) $ 755,378 $ 719,498 $ 770,000 $ 774,813 Revolver (2) $ 77,727 $ 77,727 $ 117,000 $ 117,000 Senior Notes (3) $ 400,000 $ 335,000 $ 400,000 $ 423,250 Notes (4) $ 425,000 $ 366,563 $ 425,000 $ 454,750 Other debt (5) $ 808 $ 873 Letters of credit (5) $ 6,834 $ 5,862 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-2 Loan was based on quoted prices for these instruments 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 was 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 Senior 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 utilizes a Level 2 valuation input based upon the market trading prices of the Notes to compute the fair value as these Notes are traded in the debt securities market. The Notes are considered a Level 2 measurement as the pricing inputs are other than quoted prices in active markets. (5) The Company does not believe it is practicable to estimate the fair value of the other debt or the outstanding standby letters of credit.

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	9 Months Ended
	Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
ASSETS HELD FOR SALE	ASSETS HELD FOR SALE Assets Held for Sale As of December 31, 2019, the Company entered into an agreement with a third party to dispose of equipment and a broadcasting license in Boston, Massachusetts. The Company conducted an analysis and determined the assets met the criteria to be classified as held for sale at December 31, 2019. In aggregate, these assets had a carrying value of approximately $10.2 million. In the second quarter of 2020, the Company completed this sale for $10.8 million in cash. The Company recognized a gain on the sale, net of sales commissions and other expenses, of approximately $0.2 million. During the second quarter of 2020, the Company entered into an agreement with Truth Broadcasting Corporation ("Truth") to dispose of property and equipment and two broadcasting licenses in Greensboro, North Carolina. The Company conducted an analysis and determined the assets met the criteria to be classified as held for sale at September 30, 2020. In aggregate, these assets had a carrying value of $0.5 million. The Company entered into a time brokerage agreement ("TBA") with Truth where Truth commenced operations of the two stations on September 28, 2020. During the period of the TBA, the Company excluded net revenues and station operating expenses associated with the two stations in the Company's consolidated financial statements. This transaction is expected to close within one year. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. This is considered a Level 3 measurement. The major categories of these assets held for sale are as follows as of the dates indicated: Assets Held for Sale September 30, 2020 December 31, 2019 (amounts in thousands) Net property and equipment 77 48 Radio broadcasting licenses 432 10,140 Total intangibles 432 10,140 Net assets held for sale $ 509 $ 10,188

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
SHAREHOLDERS’ EQUITY	SHAREHOLDERS’ EQUITY Dividend Equivalents The following table presents the amounts of accrued and unpaid dividends on unvested RSUs as of the dates indicated: Dividend Equivalent Liabilities Balance Sheet Location September 30, December 31, (amounts in thousands) Short-term Other current liabilities $ 540 $ 811 Long-term Other long-term liabilities 527 913 Total $ 1,067 $ 1,724 Employee Stock Purchase Plan Following the purchase of shares under the Employee Stock Purchase Plan (the "ESPP") for the first quarter of 2020, the Company temporarily suspended the ESPP. The following table presents the amount of shares purchased and non-cash compensation expense recognized in connection with the ESPP as of the periods indicated: Nine Months Ended 2020 2019 (amounts in thousands) Number of shares purchased 166 260 Non-cash compensation expense recognized $ 43 $ 182 Share Repurchase Program During the nine months ended September 30, 2020, the Company did not repurchase any shares under its share repurchase program (the "2017 Share Repurchase Program"). As of September 30, 2020, $41.6 million is available for future share repurchases under the 2017 Share Repurchase Program. Shareholder Rights Agreement On April 20, 2020, the Company entered into a Rights Agreement between the Company and American Stock Transfer & Trust Company, LLC, as Rights Agent (as amended from time to time, the "Rights Agreement"), which was previously approved by the Board of Directors of the Company (the "Board of Directors"). In connection with the Rights Agreement, a dividend was declared of one preferred stock purchase right (each, a "Class A Right") for each share of the Company's Class A common stock, par value $0.01 per share (the "Class A Common Stock"), and one preferred stock purchase right (each, a "Class B Right" and, together with the Class A Rights, the "Rights") for each share of the Company's Class B common stock, par value $0.01 per share (the "Class B Common Stock" and, together with the Class A Common Stock, the "Common Stock"), outstanding at the close of business on May 5, 2020 (the "Record Date"). Once the Rights become exercisable, each Right will entitle the holder of each Class A Right to purchase one one-thousandth of a share of the Company's Series A Junior Participating Convertible Preferred Stock, par value $0.01 per share (the "Series A Preferred"), and, with respect to each Class B Right, one one-thousandth of a share of the Company's Series B Junior Participating Convertible Preferred Stock, par value $0.01 per share (the "Series B Preferred"), at a price of $6.06 per one one-thousandth of a share of Series A Preferred or Series B Preferred, as applicable (in each case, the "Purchase Price"). At the election of the Board of Directors, shares of Series A Preferred and Series B Preferred are convertible into shares of Class A Common Stock and Class B Common Stock, respectively. The Rights will expire on April 20, 2021, subject to the Company's right to extend such date, unless earlier redeemed or exchanged by the Company or terminated. The rights have an immaterial fair value. In the event that a person becomes an Acquiring Person (as defined in the Rights Agreement, an "Acquiring Person") or if the Company were the surviving corporation in a merger with an Acquiring Person or any affiliate or associate of, or any person acting in concert with, an Acquiring Person and shares of Common Stock were not changed or exchanged in such merger, each holder of a Right, other than Rights that are or were acquired or beneficially owned by the Acquiring Person (which Rights will thereafter be void), will thereafter have the right to receive upon exercise that number of one-thousandths of a share of Series A Preferred or Series B Preferred, as applicable, equal to the number of shares of Class A Common Stock having a market value of two times the then current Purchase Price of one Right. In the event that, after a person has become an Acquiring Person, the Company were acquired in a merger or other business combination transaction or more than 50% of its assets or earning power were sold, proper provision shall be made so that each holder of a Right shall thereafter have the right to receive, upon exercise at the then current Purchase Price of the Right, that number of shares of common stock of the acquiring company which at the time of such transaction would have a market value of two times the then current Purchase Price of one Right. At any time after a person becomes an Acquiring Person and prior to the earlier of one of the events described in the last sentence of the previous paragraph or the acquisition by such Acquiring Person acquiring 50% or more of the then outstanding Class A Common Stock, the Board of Directors may cause the Company to exchange the Rights (other than Rights owned by an Acquiring Person which have become void), in whole or in part, for shares of Series A Preferred or Series B Preferred, as applicable, at an exchange rate of one one-thousandth of a share of Series A Preferred per Class A Right and one one-thousandth of a share of Series B Preferred per Class B Right. In the event that the Company receives a Qualifying Offer (as defined in the Rights Agreement), the holders of record of at least 10% or more of the shares of Common Stock then outstanding may submit to the Board of Directors a written demand requesting that the Board of Directors call a special meeting of the Company's shareholders for the purpose of voting on whether or not to exempt such Qualifying Offer from the terms of the Rights agreement. Upon the effective date of the exemption of the Rights, the right to exercise the Rights with respect to the Qualifying Offer will terminate. The Rights are designed to assure that all of the Company's shareholders receive fair and equal treatment in the event of any proposed takeover of the Company. The Rights will cause substantial dilution to a person or group that acquires 10% (15% in the case of a passive institutional investor) or more of the Class A Common Stock on terms not approved by the Board of Directors. The adoption of the Rights Agreement was not a taxable event and did not have any material impact on the Company's financial reporting.

CONTINGENCIES AND COMMITMENTS

CONTINGENCIES AND COMMITMENTS	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES AND COMMITMENTS	CONTINGENCIES AND COMMITMENTS Contingencies The Company is subject to various outstanding claims which arise in the ordinary course of business and to other legal proceedings. Management anticipates that any potential liability of the Company, which may arise out of or with respect to these matters, will not materially affect the Company’s financial position, results of operations or cash flows. There were no material changes from the contingencies listed in the Company’s Form 10-K, filed with the SEC on March 2, 2020, other than as described below. FCC Matter On July 22, 2020, the Company and the FCC entered into a consent decree for the purpose of terminating the FCC's investigation into the timeliness of the Company’s compliance with respect to the political file record keeping obligations for all of the Company’s stations. Under the terms of the consent decree, which constitutes a final settlement with respect to the investigation, the FCC determined that no civil penalty was warranted. Additionally, the Company agreed to implement a comprehensive compliance plan and provide periodic compliance reports to the FCC.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Events occurring after September 30, 2020, 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 5, 2020, the Company announced that it entered into an exchange agreement with Urban One, Inc. ("Urban One") pursuant to which the Company will exchange its four station cluster in Charlotte, North Carolina for one station in St. Louis, Missouri, one station in Washington, D.C., and one station in Philadelphia, Pennsylvania (the "Urban One Exchange"). The Company and Urban One will begin programming the respective stations under LMAs on November 23, 2020. The Urban One Exchange is expected to close in the first quarter of 2021. On November 9, 2020, the Company announced that it acquired sports data and iGaming affiliate platform QL Gaming Group ("QLGG") in an all cash deal for approximately $32 million (the "QLGG Acquisition").

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT POLICIES (Policies)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation	The interim unaudited condensed consolidated 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 include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of management, the condensed consolidated financial statements reflect all adjustments considered necessary for a fair statement of the results of operations and financial 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 consolidated financial statements and related notes included in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2019, and filed with the SEC on March 2, 2020, 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. There have been no material changes from Note 2, Significant Accounting Policies, as described in the notes to the Company’s consolidated financial statements contained in its Form 10-K for the year ended December 31, 2019, that was filed with the SEC on March 2, 2020.
COVID-19	COVID-19 In December 2019, a novel strain of coronavirus ("COVID-19") surfaced which resulted in an outbreak of infections throughout the world. On March 11, 2020, the World Health Organization declared COVID-19 a pandemic. The COVID-19 pandemic has led to emergency measures to combat its spread, including government-issued stay-at-home orders, implementation of travel bans, restrictions and limitations on social gatherings, closures of factories, schools, public buildings and businesses and has forced the implementation of alternative work arrangements. These emergency measures have had and are expected to continue to have an adverse effect on the Company's business and operations. While the full impact of this outbreak is not yet known, the Company is closely monitoring the spread of COVID-19 and continually assessing its effects on the Company, including how it has and will continue to impact advertisers, professional sports and live events. In response to the COVID-19 pandemic, the Company has taken certain measures to mitigate the resultant financial impact, including, but not limited to: (i) temporary salary reductions implemented across senior management and the broader organization; (ii) temporary freezing of contractual salary increases in 2020; (iii) furlough and termination of select employees; (iv) suspension of new employee hiring, travel and entertainment, 401(k) matching program, employee stock purchase program, and quarterly dividend program; and (v) reduction of sales and promotions spend as well as certain consulting and other discretionary expenses.
Recent Accounting Pronouncements	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 consolidated financial statements contained in its Form 10-K for the year ended December 31, 2019, that was filed with the SEC on March 2, 2020) that might have a material impact on the Company’s financial position, results of operations or cash flows.
Income Taxes	Income TaxesIn December 2019, the accounting guidance for income taxes was amended to simplify accounting for certain income tax transactions. The amended accounting guidance made changes to, among other items, accounting for intraperiod tax allocations and interim period tax accounting where the year-to-date loss exceeds the expected annual loss. The Company implemented the amended accounting guidance for income taxes on January 1, 2020, without a need to make an adjustment to retained earnings. There was no impact to previously reported results of operations for any interim period.
Measurement for Credit Losses	Measurement of Credit Losses In June 2016, the accounting guidance for the measurement of credit losses on financial instruments was amended to provide financial statement users with more information about the expected credit losses on financial instruments and other commitments to extend credit. The amended guidance replaced the current incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to determine credit loss estimates. The amended guidance eliminated the probable initial recognition threshold and, in turn, reflects an entity's current estimate of all expected credit losses. The amended guidance does not specify the method for measuring expected credit losses, and the Company is permitted to apply methods that reasonably reflect its expectations of the credit loss estimate. The Company implemented the amended accounting guidance for measurement of credit losses on January 1, 2020, without a need to make an adjustment to retained earnings. There was no impact to previously reported results of operations for any interim period.
Reclassifications	ReclassificationsCertain reclassifications have been made to the prior years' notes to the condensed consolidated financial statements to conform to the presentation in the current year, which did not have a material impact on the Company's previously reported financial statements.
Revenue	The following is a description of principal activities from which the Company generates its revenue. Spot Revenues The Company sells air-time to advertisers and broadcasts commercials at agreed upon dates and times. The Company's performance obligations are broadcasting advertisements for advertisers at specifically identifiable days and dayparts. The amount of consideration the Company receives and revenue it recognizes is fixed based upon contractually agreed upon rates. The Company recognizes revenue at a point in time when the advertisements are broadcast and the performance obligations are satisfied. Revenues are recorded on a net basis, after the deduction of advertising agency fees by the advertising agencies. Digital Revenues The Company provides targeted advertising through the sale of streaming and display advertisements on its national platforms, RADIO.COM and eventful.com, and its station websites. Performance obligations include delivery of advertisements over the Company's platforms or delivery of targeted advertisements directly to consumers. The Company recognizes revenue at a point in time when the advertisements are delivered and the performance obligations are satisfied. Revenues are recorded on a net basis, after the deduction of advertising agency fees by the advertising agencies. Through its acquisition of Cadence13, the Company embeds advertisements in its owned and operated podcasts and other on-demand content. Performance obligations include delivery of advertisements. The Company recognizes revenue at a point in time when the advertisements are delivered and the performance obligations are satisfied. Revenues are recorded on a net basis, after the deduction of advertising agency fees by the advertising agencies. Through its acquisition of Pineapple, the Company creates podcasts, for which it earns production fees. Performance obligations include the delivery of episodes. These revenues are fixed based upon contractually agreed upon terms. The Company recognizes revenue over the term of the production contract. Network Revenues The Company sells air-time on the Company's Entercom Audio Network. The amount of consideration the Company receives and revenue it recognizes is fixed based upon contractually agreed upon rates. The Company recognizes revenue at a point in time when the advertisements are broadcast and the performance obligations are satisfied. Revenues are recorded on a net basis, after the deduction of advertising agency fees by the advertising agencies. Sponsorships and Event Revenues The Company sells advertising space at live and local events hosted by the Company across the country. The Company also earns revenues from attendee-driven ticket sales and merchandise sales. Performance obligations include the presentation of the advertisers' branding in highly visible areas at the event. These revenues are recognized at a point in time, as the event occurs and the performance obligations are satisfied. The Company also sells sponsorships including, but not limited to, naming rights related to its programs or studios. Performance obligations include the mentioning or displaying of the sponsors' name, logo, product information, slogan or neutral descriptions of the sponsors' goods or services in acknowledgement of their support. These revenues are fixed based upon contractually agreed upon terms. The Company recognizes revenue over the length of the sponsorship agreement based upon the fair value of the deliverables included. Other Revenues The Company earns revenues from on-site promotions and endorsements from talent. Performance obligations include the broadcasting of such endorsement at specifically identifiable days and dayparts or at various local events. The Company recognizes revenue at a point in time when the performance obligations are satisfied.

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Schedule of Business Acquisitions	The allocations presented in the table below are based upon management's estimates of the fair values using valuation techniques including income, cost and market approaches. Measurement Preliminary Value Period Adjustment As Adjusted (amounts in thousands) Assets Property, plant and equipment $ 654 $ — $ 654 Total tangible property 654 — 654 Operating lease right-of-use asset 62 — 62 Deferred tax asset 2,900 28 2,928 Cadence13 brand 5,977 — 5,977 Goodwill 31,392 (28) 31,364 Total tangible and other assets 40,331 — 40,331 Operating lease liabilities (985) — (985) Net working capital (757) — (757) Preliminary fair value of net assets acquired $ 39,243 $ — $ 39,243 Final Value (amounts in thousands) Assets Accounts receivable $ 997 Pineapple Street Media brand 1,793 Goodwill 12,445 Total assets $ 15,235 Unearned revenue 238 Accounts payable 30 Total liabilities $ 268 Final fair value of net assets acquired $ 14,967 The following table reflects the final allocation of the purchase price to the assets acquired. Final Value (amounts in thousands) Assets Equipment $ 844 Total tangible property 844 Radio broadcasting licenses 19,576 Goodwill 2,080 Total intangible and other assets 21,656 Total assets $ 22,500 Final fair value of net assets acquired $ 22,500
Business Acquisition, Pro Forma Information	This unaudited pro forma information has been prepared based on estimates and assumptions, which management believes are reasonable. These unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what would have occurred had the acquisitions been made as of that date or results which may occur in the future. Three Months Ended Nine Months Ended 2020 2019 2020 2019 (amounts in thousands except share and per share data) Actual Pro Forma Actual Pro Forma Net revenues $ 268,505 $ 398,182 $ 741,403 $ 1,112,202 Net income (loss) $ (16,878) $ 40,199 $ (79,827) $ 66,596 Net income (loss) per common share - basic $ (0.13) $ 0.29 $ (0.59) $ 0.48 Net income (loss) per common share - diluted $ (0.13) $ 0.29 $ (0.59) $ 0.48 Weighted shares outstanding basic 134,735,075 136,449,453 134,753,276 137,944,486 Weighted shares outstanding diluted 134,735,075 136,452,995 134,753,276 138,295,091

RESTRUCTURING CHARGES (Tables)

RESTRUCTURING CHARGES (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges	The components of restructuring charges are as follows: Nine Months Ended 2020 2019 (amounts in thousands) Workforce reduction 10,218 5,283 Other restructuring costs 92 670 Total restructuring charges $ 10,310 $ 5,953 Three Months Ended 2020 2019 (amounts in thousands) Workforce reduction 1,149 1,489 Other restructuring costs 57 88 Total restructuring charges $ 1,206 $ 1,577
Schedule of Restructuring Reserve	Nine Months Ended September 30, 2020 Twelve Months Ended December 31, 2019 (amounts in thousands) Restructuring charges, beginning balance $ 4,251 $ 7,077 Additions 10,310 6,976 Payments (11,533) (9,802) Restructuring charges unpaid and outstanding 3,028 4,251 Restructuring charges - noncurrent portion (1,052) (1,483) Restructuring charges - current portion $ 1,976 $ 2,768

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2020
Revenues [Abstract]
Contract Assets and Liabilities balances and changes	Refer to the table below for information about receivables, contract assets and contract liabilities from contracts with customers. Accounts receivable balances in the table below exclude other receivables that are not generated from contracts with customers. These amounts are $2.2 million and $5.1 million as of September 30, 2020 and December 31, 2019, respectively. Description September 30, December 31, (amounts in thousands) Receivables, included in "Accounts receivable net of allowance for doubtful accounts" $ 231,211 $ 376,504 Unearned revenue - current 11,814 9,894 Unearned revenue - noncurrent 1,499 2,113 Significant changes in the contract liabilities balances during the period are as follows: Nine Months Ended Description Unearned Revenue (amounts in thousands) Beginning balance on January 1, 2020 $ 12,007 Revenue recognized during the period that was included in the beginning balance of contract liabilities (1,936) Additional amounts recognized during period 3,242 Ending balance $ 13,313
Disaggregation of Revenue	The following table presents the Company’s revenues disaggregated by revenue source: Nine Months Ended 2020 2019 Revenue by Source (amounts in thousands) Spot revenues $ 488,891 $ 805,161 Digital revenues 131,188 98,430 Network revenues 56,889 56,260 Sponsorships and event revenues 32,871 61,684 Other revenues 31,564 54,276 Net revenues $ 741,403 $ 1,075,811 Three Months Ended 2020 2019 Revenue by Source (amounts in thousands) Spot revenues $ 183,011 $ 288,927 Digital revenues 47,337 33,473 Network revenues 18,908 23,035 Sponsorships and event revenues 8,776 22,470 Other revenues 10,473 18,236 Net revenues $ 268,505 $ 386,141

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Components of Lease Expense Table	The components of lease expense were as follows: Nine Months Ended September 30, Lease Cost 2020 2019 (amounts in thousands) Operating lease cost $ 36,664 $ 37,733 Variable lease cost 7,808 $ 7,029 Short-term lease cost — $ 182 Total lease cost $ 44,472 $ 44,944 Three Months Ended Lease Cost 2020 2019 (amounts in thousands) Operating lease cost $ 12,351 $ 12,682 Variable lease cost 2,610 2,478 Short-term lease cost — 5 Total lease cost $ 14,961 $ 15,165
Supplemental Cash Flow Information	Supplemental cash flow information related to leases was as follows: Nine Months Ended September 30, Description 2020 2019 (amounts in thousands) Cash paid for amounts included in measurement of lease liabilities Operating cash flows from operating leases $ 44,572 $ 38,991 Right-of-use assets obtained in exchange for lease obligations Operating leases (1) $ 6,826 $ 304,650 (1) ROU assets obtained in exchange for lease obligations in 2019 include transition liabilities upon implementation of the amended leasing guidance, as well as new leases entered into during the nine months ended September 30, 2019.
Aggregate Maturities of Lease Liabilities

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of the Changes in Broadcasting License	The following table presents the changes in the carrying value of broadcasting licenses. Broadcasting Licenses September 30, December 31, (amounts in thousands) Broadcasting licenses balance as of January 1, $ 2,508,121 $ 2,516,625 Disposition of radio stations (See Note 2) — (17,940) Acquisitions (See Note 2) — 19,576 Loss on impairment (15,957) — Assets held for sale (See Note 14) (432) (10,140) Ending period balance $ 2,491,732 $ 2,508,121
Schedule of Changes in Goodwill	The following table presents the changes in goodwill. Refer to Note 2, Business Combinations, for additional information. Goodwill Carrying Amount September 30, December 31, (amounts in thousands) Goodwill balance before cumulative loss on impairment as of January 1, $ 1,024,467 $ 982,663 Accumulated loss on impairment as of January 1, (980,547) (443,194) Goodwill beginning balance after cumulative loss on impairment as of January 1, 43,920 539,469 Loss on impairment during year — (537,353) Dispositions (See Note 2) — (4,862) Acquisitions (See Note 2) — 46,666 Measurement period adjustments to acquired goodwill (See Note 2) (28) — Ending period balance $ 43,892 $ 43,920
Schedule of assumptions and estimates for broadcasting licenses impairment testing	The following table reflects the estimates and assumptions used in the interim and annual broadcasting licenses impairment assessments for each respective period. Estimates And Assumptions Third Quarter 2020 Second Quarter 2020 Fourth Quarter 2019 Discount rate 7.50 % 8.00 % 8.50 % Operating profit margin ranges expected for average stations in the markets where the Company operates 24% to 36% 22% to 36% 18% to 36% Forecasted growth rate (including long-term growth rate) range of the Company's markets 0.0% to 0.7% 0.0% to 0.8% 0.0% to 0.8%

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	Other current liabilities consist of the following as of the periods indicated: Other Current Liabilities September 30, December 31, (amounts in thousands) Accrued compensation $ 22,378 $ 28,871 Accounts receivable credits 1,733 3,798 Advertiser obligations 3,621 4,095 Accrued interest payable 23,934 9,882 Unearned revenue 11,814 9,894 Unfavorable sports liabilities 4,634 4,634 Accrued benefits 4,983 6,321 Non-income tax liabilities 1,723 1,685 Income taxes payable 185 3,925 Other 3,673 3,732 Total other current liabilities $ 78,678 $ 76,837

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt was comprised of the following as of the periods indicated: Long-Term Debt September 30, December 31, (amounts in thousands) Credit Facility Revolver $ 77,727 $ 117,000 Term B-2 Loan, due November 17, 2024 755,378 770,000 Plus unamortized premium 1,752 1,968 834,857 888,968 Notes 6.500% notes due May 1, 2027 425,000 425,000 Plus unamortized premium 4,489 5,000 429,489 430,000 Senior Notes 7.25% senior unsecured notes, due November 1, 2024 400,000 400,000 Plus unamortized premium 9,912 11,732 409,912 411,732 Other debt 808 873 Total debt before deferred financing costs 1,675,066 1,731,573 Current amount of long-term debt (5,488) (16,377) Deferred financing costs (excludes the revolving credit) (15,395) (18,082) Total long-term debt $ 1,654,183 $ 1,697,114 Outstanding standby letters of credit $ 6,834 $ 5,862
Schedule Of Net Interest Expense	The components of net interest expense are as follows: Net Interest Expense Nine Months Ended 2020 2019 (amounts in thousands) Interest expense $ 65,783 $ 76,190 Amortization of deferred financing costs 2,942 2,227 Amortization of original issue discount (premium) of senior notes (2,546) (2,248) Interest income and other investment income (70) (749) Total net interest expense $ 66,109 $ 75,420 Net Interest Expense Three Months Ended 2020 2019 (amounts in thousands) Interest expense $ 20,723 $ 25,203 Amortization of deferred financing costs 999 755 Amortization of original issue discount (premium) of senior notes (849) (678) Interest income and other investment income (27) (24) Total net interest expense $ 20,846 $ 25,256

DERIVATIVE AND HEDGING ACTIVI_2

DERIVATIVE AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Derivatives	As of September 30, 2020, the Company had the following derivative outstanding, which was designated as a cash flow hedge that qualified for hedge accounting treatment: Type Notional Effective Collar Fixed Expiration Notional Amount (amounts (amounts Cap 2.75% Jun. 28, 2021 $ 340.0 Collar $ 460.0 Jun. 25, 2019 Floor 0.402% Jun. 28, 2024 Jun. 28, 2022 $ 220.0 Jun. 28, 2023 $ 90.0 Total $ 460.0
Accumulated Derivatives Gain (Loss) Included in Comprehensive Income (Loss)	The following table presents the accumulated derivative gain (loss) recorded in other comprehensive income (loss) as of September 30, 2020 and December 31, 2019: Accumulated Derivative Gain (Loss) Description September 30, December 31, (amounts in thousands) Accumulated derivative unrealized gain (loss) $ (2,238) $ (139) The following tables present the accumulated net derivative gain (loss) recorded in other comprehensive income (loss) for the nine and three months ended September 30, 2020 and September 30, 2019. Other Comprehensive Income (Loss) Net Change in Accumulated Derivative Unrealized Gain (Loss) Net Amount of Accumulated Derivative Gain (Loss) Reclassified to the Consolidated Statement of Operations Nine Months Ended September 30, 2020 2019 2020 2019 (amounts in thousands) $ (2,099) $ (577) $ 364 $ — Other Comprehensive Income (Loss) Net Change in Accumulated Derivative Unrealized Gain (Loss) Net Amount of Accumulated Derivative Gain (Loss) Reclassified to the Condensed Consolidated Statement of Operations Three Months Ended September 30, 2020 2019 2020 2019 (amounts in thousands) $ 515 $ (353) $ 249 $ —

NET INCOME (LOSS) PER COMMON _2

NET INCOME (LOSS) PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share, Basic and Diluted [Abstract]
Schedule of Earnings Per Share Reconciliation	The following tables present the computations of basic and diluted net income (loss) per share from continuing operations: Three Months Ended Nine Months Ended 2020 2019 2020 2019 (amounts in thousands except per share data) Basic Income (Loss) Per Share Numerator Net income (loss) $ (16,878) $ 38,208 $ (79,827) $ 67,323 Denominator Basic weighted average shares outstanding 134,735 136,449 134,753 137,944 Net income (loss) per share - Basic $ (0.13) $ 0.28 $ (0.59) $ 0.49 Diluted Income (Loss) Per Share Numerator Net income (loss) $ (16,878) $ 38,208 $ (79,827) $ 67,323 Denominator Basic weighted average shares outstanding 134,735 136,449 134,753 137,944 Effect of RSUs and options under the treasury stock method — 4 — 351 Diluted weighted average shares outstanding 134,735 136,453 134,753 138,295 Net income (loss) per share - Diluted $ (0.13) $ 0.28 $ (0.59) $ 0.49
Schedule of Antidilutive Shares Excluded	The following table presents those shares excluded as they were anti-dilutive: Three Months Ended Nine Months Ended Impact Of Equity Issuances 2020 2019 2020 2019 (amounts in thousands, except per share data) Shares excluded as anti-dilutive under the treasury stock method: Options 609 545 609 549 Price range of options: from $ 3.54 $ 6.43 $ 3.54 $ 6.43 Price range of options: to $ 13.98 $ 13.98 $ 13.98 $ 13.98 RSUs with service conditions 2,464 3,555 2,626 1,939 RSUs excluded with service and market conditions as market conditions not met 199 70 199 70 Excluded shares as anti-dilutive when reporting a net loss — — 73 —

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of Changes in RSUs	The following is a summary of the changes in RSUs under the Plan during the current year-to-date period ended September 30, 2020: Period Ended Number of Restricted Stock Units Weighted Average Purchase Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value as of September 30, (amounts in thousands) RSUs outstanding as of: December 31, 2019 3,861 RSUs awarded September 30, 2020 580 RSUs released September 30, 2020 (1,599) RSUs forfeited September 30, 2020 (190) RSUs outstanding as of: September 30, 2020 2,652 $ — 1.2 $ 4,296 RSUs vested and expected to vest as of: September 30, 2020 2,652 $ — 1.2 $ 4,296 RSUs exercisable (vested and deferred) as of: September 30, 2020 41 $ — 0 $ 67 Weighted average remaining recognition period in years 2.0 Unamortized compensation expense $ 12,073
Summary of Stock Options Exercised	The following table provides summary information related to the exercise of stock options: Nine Months Ended Option Exercise Data 2020 2019 (amounts in thousands) Intrinsic value of options exercised $ — $ 1,272 Tax benefit from options exercised (1) $ — $ 73 Cash received from exercise price of options exercised $ — $ 244 (1) Amounts exclude any impact from any compensation expense subject to Section 162(m) of the Code, which is nondeductible for income tax purposes.
Schedule Of Option Activity	The following table presents the option activity under the Plan during the current year-to-date period ended September 30, 2020: Period Ended Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Intrinsic Value as of September 30 (amounts in thousands) Options outstanding as of: December 31, 2019 543 $ 12.06 Options granted September 30, 2020 66 5.40 Options outstanding as of: September 30, 2020 609 $ 11.33 4.0 $ — Options vested and expected to vest as of: September 30, 2020 609 $ 11.33 4.0 $ — Options vested and exercisable as of: September 30, 2020 543 $ 12.06 3.5 $ — Weighted average remaining recognition period in years 0.7 Unamortized compensation expense $ 37
Summary of Significant Ranges of Outstanding and Exercisable Options	The following table summarizes significant ranges of outstanding and exercisable options as of the current period: Options Outstanding Options Exercisable Range of Number of Options Outstanding September 30, Weighted Weighted Number of Options Exercisable September 30, Weighted From To $ 3.54 7.01 66,775 8.7 5.40 — $ — $ 9.66 13.98 542,582 3.5 12.06 542,582 $ 12.06 $ 3.54 13.98 609,357 4.0 11.33 542,582 $ 12.06
Schedule of 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 the Company’s statement of operations: Nine Months Ended 2020 2019 (amounts in thousands) Station operating expenses $ 1,552 $ 3,765 Corporate general and administrative expenses 4,616 6,521 Stock-based compensation expense included in operating expenses 6,168 10,286 Income tax benefit (1) 1,452 2,258 After-tax stock-based compensation expense $ 4,716 $ 8,028 Three Months Ended 2020 2019 (amounts in thousands) Station operating expenses $ 524 $ 1,107 Corporate general and administrative expenses 1,421 2,234 Stock-based compensation expense included in operating expenses 1,945 3,341 Income tax benefit (1) 480 770 After-tax stock-based compensation expense $ 1,465 $ 2,571 (1) Amounts exclude impact from any compensation expense subject to Section 162(m) of the Code, which is nondeductible for income tax purposes.

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Recurring Fair Value Measurements	The following table sets 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. During the periods presented, there were no transfers between fair value hierarchical levels. Fair Value Measurements At Reporting Date Description Balance at September 30, Quoted prices in active markets Level 1 Significant other observable inputs Level 2 Significant unobservable inputs Level 3 Measured at Net Asset Value as a Practical Expedient (2) (amounts in thousands) Liabilities Deferred compensation plan liabilities (1) $ 30,728 $ 24,380 $ — $ — $ 6,348 Interest Rate Cash Flow Hedge (3) $ 3,051 $ — $ 3,051 $ — $ — Description Balance at December 31, Quoted prices in active markets Level 1 Significant other observable inputs Level 2 Significant unobservable inputs Level 3 Measured at Net Asset Value as a Practical Expedient (2) (amounts in thousands) Liabilities Deferred compensation plan liabilities (1) $ 33,229 $ 25,592 $ — $ — $ 7,637 Interest Rate Cash Flow Hedge (3) $ 189 $ — $ 189 $ — $ — (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. (2) The fair value of underlying investments in collective trust funds is determined using the net asset value (“NAV”) provided by the administrator of the fund as a practical expedient. The NAV is determined by each fund’s trustee based upon the fair value of the underlying assets owned by the fund, less liabilities, divided by outstanding units. In accordance with appropriate accounting guidance, these investments have not been classified in the fair value hierarchy. (3) The Company’s interest rate collar, which is included in other long-term liabilities, is recorded at fair value on a recurring basis. The derivatives are not exchange listed and therefore the fair value is estimated using models that reflect the contractual terms of the derivative, yield curves, and the credit quality of the counterparties. The models also incorporate the Company’s creditworthiness in order to appropriately reflect non-performance risk. Inputs are generally observable and do not contain a high level of subjectivity.
Schedule of Carrying Value of Financial Instruments	The following table presents the carrying value of financial instruments and, where practicable, the fair value as of the dates indicated: September 30, December 31, Carrying Value Fair Value Carrying Value Fair Value (amounts in thousands) Term B-2 Loan (1) $ 755,378 $ 719,498 $ 770,000 $ 774,813 Revolver (2) $ 77,727 $ 77,727 $ 117,000 $ 117,000 Senior Notes (3) $ 400,000 $ 335,000 $ 400,000 $ 423,250 Notes (4) $ 425,000 $ 366,563 $ 425,000 $ 454,750 Other debt (5) $ 808 $ 873 Letters of credit (5) $ 6,834 $ 5,862 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-2 Loan was based on quoted prices for these instruments 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 was 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 Senior 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 utilizes a Level 2 valuation input based upon the market trading prices of the Notes to compute the fair value as these Notes are traded in the debt securities market. The Notes are considered a Level 2 measurement as the pricing inputs are other than quoted prices in active markets. (5) The Company does not believe it is practicable to estimate the fair value of the other debt or the outstanding standby letters of credit.
Investments Valued Under The Measurement Alternative

ASSETS HELD FOR SALE (Tables)

ASSETS HELD FOR SALE (Tables)	9 Months Ended
	Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
Assets Held-for-sale by Major Category	The major categories of these assets held for sale are as follows as of the dates indicated: Assets Held for Sale September 30, 2020 December 31, 2019 (amounts in thousands) Net property and equipment 77 48 Radio broadcasting licenses 432 10,140 Total intangibles 432 10,140 Net assets held for sale $ 509 $ 10,188

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Schedule of Amounts Accrued and Unpaid on Unvested RSUs	The following table presents the amounts of accrued and unpaid dividends on unvested RSUs as of the dates indicated: Dividend Equivalent Liabilities Balance Sheet Location September 30, December 31, (amounts in thousands) Short-term Other current liabilities $ 540 $ 811 Long-term Other long-term liabilities 527 913 Total $ 1,067 $ 1,724
ESPP Shares Purchased and Non-Cash Comp Expense	The following table presents the amount of shares purchased and non-cash compensation expense recognized in connection with the ESPP as of the periods indicated: Nine Months Ended 2020 2019 (amounts in thousands) Number of shares purchased 166 260 Non-cash compensation expense recognized $ 43 $ 182

BUSINESS COMBINATIONS - Narrati

BUSINESS COMBINATIONS - Narrative (Details) $ in Thousands	Oct. 16, 2019USD ($)	Jul. 19, 2019USD ($)	May 09, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Feb. 13, 2019radio_station	Jul. 31, 2017
Business Acquisition [Line Items]
Integration costs				$ 0	$ 689	$ 490	$ 3,280
Cadence13
Business Acquisition [Line Items]
Equity Interest acquired (in percent)									45.00%
Purchase price	$ 24,300
Remeasurement gain on previously held interest	$ 5,300
Pineapple Street Media
Business Acquisition [Line Items]
Purchase price		$ 14,000
2019 Cumulus Exchange
Business Acquisition [Line Items]
Gain (Loss) on disposition of business			$ 1,800
2019 Cumulus Exchange | Indianapolis, Indiana
Business Acquisition [Line Items]
Number of stations exchanged | radio_station								3
2019 Cumulus Exchange | Springfield, Massachusetts
Business Acquisition [Line Items]
Number of stations exchanged | radio_station								2
2019 Cumulus Exchange | New York City, New York
Business Acquisition [Line Items]
Number of stations exchanged | radio_station								1

BUSINESS COMBINATIONS - Prelimi

BUSINESS COMBINATIONS - Preliminary purchase price allocation and period adjustment (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019	Oct. 16, 2019	May 09, 2019	Dec. 31, 2018
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Goodwill	$ 43,892	$ 43,892	$ 43,920			$ 539,469
Period Adjustment
Goodwill	(28)		$ 0
Cadence13
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Total tangible property	654	654		$ 654
Operating lease right-of-use asset	62	62		62
Deferred tax asset	2,928	2,928		2,900
Goodwill	31,364	31,364		31,392
Total tangible and other assets	40,331	40,331		40,331
Operating lease liabilities	(985)	(985)		(985)
Net working capital	(757)	(757)		(757)
Preliminary fair value of net assets acquired	39,243	39,243		39,243
Period Adjustment
Total tangible property		0
Operating lease right-of-use asset		0
Deferred tax asset		28
Goodwill		(28)
Total tangible and other assets		0
Operating lease liabilities		0
Net working capital		0
Preliminary fair value of net assets acquired		0
Cadence13 | Trademarks and Trade Names
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Cadence13 brand	$ 5,977	5,977		$ 5,977
Period Adjustment
Cadence13 brand		$ 0
2019 Cumulus Exchange
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Total tangible property					$ 844
Goodwill					2,080
Preliminary fair value of net assets acquired					$ 22,500

BUSINESS COMBINATIONS - Preli_2

BUSINESS COMBINATIONS - Preliminary purchase price allocations (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Jul. 19, 2019	May 09, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 43,892	$ 43,920			$ 539,469
Pineapple Street Media
Business Acquisition [Line Items]
Accounts receivable			$ 997
Goodwill			12,445
Total assets			15,235
Unearned revenue			238
Accounts payable			30
Total liabilities			268
Preliminary fair value of net assets acquired			14,967
Pineapple Street Media | Trademarks and Trade Names
Business Acquisition [Line Items]
Intangible assets			$ 1,793
2019 Cumulus Exchange
Business Acquisition [Line Items]
Total tangible property				$ 844
Goodwill				2,080
Total intangible and other assets				21,656
Total assets				22,500
Preliminary fair value of net assets acquired				22,500
2019 Cumulus Exchange | Equipment
Business Acquisition [Line Items]
Total tangible property				844
2019 Cumulus Exchange | Licensing Agreements
Business Acquisition [Line Items]
Intangible assets				$ 19,576

BUSINESS COMBINATIONS - Proform

BUSINESS COMBINATIONS - Proforma summary of financials (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition, Pro Forma Information [Abstract]
Net revenues	$ 268,505	$ 398,182	$ 741,403	$ 1,112,202
Net income (loss)	$ (16,878)	$ 40,199	$ (79,827)	$ 66,596
Net income (loss) per common share - basic (in dollars per share)	$ (0.13)	$ 0.29	$ (0.59)	$ 0.48
Net income (loss) - diluted per common share (in dollars per share)	$ (0.13)	$ 0.29	$ (0.59)	$ 0.48
Weighted shares outstanding basic (in shares)	134,735,075	136,449,453	134,753,276	137,944,486
Weighted shares outstanding diluted (in shares)	134,735,075	136,452,995	134,753,276	138,295,091

RESTRUCTURING CHARGES - Restruc

RESTRUCTURING CHARGES - Restructuring charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 1,206	$ 1,577	$ 10,310	$ 5,953
Workforce reduction
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	1,149	1,489	10,218	5,283
Other restructuring costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 57	$ 88	$ 92	$ 670

RESTRUCTURING CHARGES - Accrued

RESTRUCTURING CHARGES - Accrued Restructuring (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Restructuring Reserve [Abstract]
Restructuring charges, beginning balance	$ 4,251	$ 7,077
Additions	10,310	6,976
Payments	(11,533)	(9,802)
Restructuring charges, ending balance	3,028	4,251
Restructuring charges - noncurrent portion	(1,052)	(1,483)
Restructuring charges - current portion	$ 1,976	$ 2,768

REVENUE - Contract Balance (Det

REVENUE - Contract Balance (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Revenues [Abstract]
Receivables not generated	$ 2,200	$ 5,100
Receivables, included in "Accounts receivable net of allowance for doubtful accounts"	231,211	376,504
Unearned revenue - current	11,814	9,894
Unearned revenue - noncurrent	$ 1,499	$ 2,113

REVENUE - Changes in Contract B

REVENUE - Changes in Contract Balances (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Contract With Customer, Liability [Roll Forward]
Beginning balance on January 1, 2020	$ 12,007
Revenue recognized during the period that was included in the beginning balance of contract liabilities	(1,936)
Additional amounts recognized during period	3,242
Ending balance	$ 13,313

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Net revenues	$ 268,505	$ 386,141	$ 741,403	$ 1,075,811
Spot revenues
Disaggregation of Revenue [Line Items]
Net revenues	183,011	288,927	488,891	805,161
Digital revenues
Disaggregation of Revenue [Line Items]
Net revenues	47,337	33,473	131,188	98,430
Network revenues
Disaggregation of Revenue [Line Items]
Net revenues	18,908	23,035	56,889	56,260
Sponsorships and event revenues
Disaggregation of Revenue [Line Items]
Net revenues	8,776	22,470	32,871	61,684
Other revenues
Disaggregation of Revenue [Line Items]
Net revenues	$ 10,473	$ 18,236	$ 31,564	$ 54,276

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 12,351	$ 12,682	$ 36,664	$ 37,733
Variable lease cost	2,610	2,478	7,808	7,029
Short-term lease cost	0	5	0	182
Total lease cost	$ 14,961	$ 15,165	$ 44,472	$ 44,944

LEASES - Supplemental informati

LEASES - Supplemental information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Supplemental Cash Flow Information [Abstract]
Operating cash flows from operating leases	$ 44,572	$ 38,991
Operating leases	$ 6,826	$ 304,650

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Changes in Carrying Value of Broadcasting Licenses (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Indefinite-lived Intangible Assets [Roll Forward]
Broadcasting licenses balance as of January 1,	$ 2,508,121	$ 2,516,625
Dispositions	0	(17,940)
Acquisition of radio stations	0	19,576
Loss on impairment	(15,957)	0
Assets held for sale	(432)	(10,140)
Ending period balance	$ 2,491,732	$ 2,508,121

INTANGIBLE ASSETS AND GOODWIL_3

INTANGIBLE ASSETS AND GOODWILL - Changes in Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill balance before cumulative loss on impairment as of January 1,		$ 1,024,467	$ 982,663
Accumulated loss on impairment as of January 1,		(980,547)	$ (443,194)
Goodwill beginning balance after cumulative loss on impairment as of January 1,	$ 43,920	539,469
Loss on impairment during year	0	(537,353)
Dispositions	0	(4,862)
Acquisitions	0	46,666
Measurement period adjustments to acquired goodwill	(28)	0
Ending period balance	$ 43,892	$ 43,920

INTANGIBLE ASSETS AND GOODWIL_4

INTANGIBLE ASSETS AND GOODWILL - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Indefinite-lived Intangible Assets [Line Items]
Impairment charge			$ 15,957	$ 0
Licensing Agreements
Indefinite-lived Intangible Assets [Line Items]
Impairment charge	$ 11,800	$ 4,100
Impairment charges, net of tax	$ 8,700	$ 3,000

INTANGIBLE ASSETS AND GOODWIL_5

INTANGIBLE ASSETS AND GOODWILL - Assumption of impairment (Details) - Broadcasting Licenses	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Estimates and assumptions used for impairment test [Line Items]
Discount rate	7.50%	8.00%	8.50%
Minimum
Estimates and assumptions used for impairment test [Line Items]
Operating profit margin ranges expected for average stations in the markets where the Company operates	24.00%	22.00%	18.00%
Forecasted growth rate (including long-term growth rate) range of the Company's markets	0.00%	0.00%	0.00%
Maximum
Estimates and assumptions used for impairment test [Line Items]
Operating profit margin ranges expected for average stations in the markets where the Company operates	36.00%	36.00%	36.00%
Forecasted growth rate (including long-term growth rate) range of the Company's markets	0.70%	0.80%	0.80%

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accrued compensation	$ 22,378	$ 28,871
Accounts receivable credits	1,733	3,798
Advertiser obligations	3,621	4,095
Accrued interest payable	23,934	9,882
Unearned revenue	11,814	9,894
Unfavorable sports liabilities	4,634	4,634
Accrued benefits	4,983	6,321
Non-income tax liabilities	1,723	1,685
Income taxes payable	185	3,925
Other	3,673	3,732
Total other current liabilities	$ 78,678	$ 76,837

LONG-TERM DEBT - Long Term Debt

LONG-TERM DEBT - Long Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total debt before deferred financing costs	$ 1,675,066	$ 1,731,573
Current amount of long-term debt	(5,488)	(16,377)
Deferred financing costs (excludes the revolving credit)	(15,395)	(18,082)
Total long-term debt	1,654,183	1,697,114
Outstanding standby letters of credit	6,834	5,862
Revolver
Debt Instrument [Line Items]
Carrying value of debt	77,727	117,000
Term B-2 Loan, due November 17, 2024
Debt Instrument [Line Items]
Carrying value of debt	755,378	770,000
Plus unamortized premium	1,752	1,968
Total Credit Facility
Debt Instrument [Line Items]
Total debt before deferred financing costs	834,857	888,968
6.500% notes due May 1, 2027
Debt Instrument [Line Items]
Carrying value of debt	425,000	425,000
Plus unamortized premium	4,489	5,000
Total debt before deferred financing costs	$ 429,489	430,000
Debt instrument, stated percentage	6.50%
7.25% senior unsecured notes, due November 1, 2024
Debt Instrument [Line Items]
Carrying value of debt	$ 400,000	400,000
Plus unamortized premium	9,912	11,732
Total debt before deferred financing costs	$ 409,912	411,732
Debt instrument, stated percentage	7.25%
Other debt
Debt Instrument [Line Items]
Total debt before deferred financing costs	$ 808	$ 873

LONG-TERM DEBT - Senior Debt (D

LONG-TERM DEBT - Senior Debt (Details)	Jul. 20, 2020USD ($)	Sep. 30, 2020
Senior Debt Obligations
Debt Instrument [Line Items]
Consolidated leverage ratio		4
Senior Debt Obligations | Credit Facility
Debt Instrument [Line Items]
Covenant effective period		1 year
Senior Debt Obligations | Credit Facility | Maximum
Debt Instrument [Line Items]
Consolidated leverage ratio		4.5
Line of Credit | Credit Agreement
Debt Instrument [Line Items]
Minimum liquidity covenant	$ 75,000,000
Letter of credit fees (in percent)	2.50%
Line of Credit | Credit Agreement | Eurodollar
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)	2.50%
Line of Credit | Credit Agreement | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (in percent)	1.50%

LONG-TERM DEBT - Net Interest E

LONG-TERM DEBT - Net Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Disclosure [Abstract]
Interest expense	$ 20,723	$ 25,203	$ 65,783	$ 76,190
Amortization of deferred financing costs	999	755	2,942	2,227
Amortization of original issue discount (premium) of senior notes	(849)	(678)	(2,546)	(2,248)
Interest income and other investment income	(27)	(24)	(70)	(749)
Total net interest expense	$ 20,846	$ 25,256	$ 66,109	$ 75,420

DERIVATIVE AND HEDGING ACTIVI_3

DERIVATIVE AND HEDGING ACTIVITIES - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Collar
Derivative [Line Items]
Loss on derivatives	$ 2.9
Tax benefit on loss from derivatives	0.8
Amount of gain (loss) expected to be reclassified in next twelve months	1.1
Total Return Swap | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, notional amount	23
Change in fair value of derivatives not designated for hedge accounting	3.7
Total Return Swap | Corporate general and administrative expenses | Not Designated as Hedging Instrument
Derivative [Line Items]
Change in fair value of derivatives not designated for hedge accounting	1.7
Total Return Swap | Station operating expenses | Not Designated as Hedging Instrument
Derivative [Line Items]
Change in fair value of derivatives not designated for hedge accounting	2
Other Long Term Liabilities
Derivative [Line Items]
Derivative liability	$ 3.1

DERIVATIVE AND HEDGING ACTIVI_4

DERIVATIVE AND HEDGING ACTIVITIES - Cash Flow Hedge (Details) - Designated as Hedging Instrument	Sep. 30, 2020USD ($)
Derivative [Line Items]
Notional Amount	$ 460,000,000
Collar
Derivative [Line Items]
Notional Amount	460,000,000
Collar, Decrease Date June 28, 2021
Derivative [Line Items]
Amount After Decrease	340,000,000
Collar, Decrease Date June 28, 2022
Derivative [Line Items]
Amount After Decrease	220,000,000
Collar, Decrease Date June 28, 2023
Derivative [Line Items]
Amount After Decrease	$ 90,000,000
London Interbank Offered Rate (LIBOR) | Collar
Derivative [Line Items]
Derivative, cap interest rate	2.75%
Derivative, floor interest rate	0.402%

DERIVATIVE AND HEDGING ACTIVI_5

DERIVATIVE AND HEDGING ACTIVITIES - Accumulated Derivative Gain loss (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Accumulated derivative unrealized gain (loss)	$ (2,238)	$ (139)

DERIVATIVE AND HEDGING ACTIVI_6

DERIVATIVE AND HEDGING ACTIVITIES - Accumulated Net Derivative Gain (Details) - USD ($) $ in Thousands	3 Months Ended					9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net unrealized gain (loss) on derivatives	$ 515	$ (260)	$ (2,354)	$ (353)	$ (224)	$ (2,099)	$ (577)
Net Amount of Accumulated Derivative Gain (Loss) Reclassified to the Condensed Consolidated Statement of Operations	$ 249			$ 0		$ 364	$ 0

NET INCOME (LOSS) PER COMMON _3

NET INCOME (LOSS) PER COMMON SHARE - Basic and Diluted Net Income (loss) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share, Basic [Abstract]
Net income (loss)	$ (16,878)	$ (53,811)	$ (9,138)	$ 38,208	$ 25,992	$ 3,125	$ (79,827)	$ 67,323
Basic weighted average shares outstanding (in shares)	134,735,075			136,449,453			134,753,276	137,944,486
Net income (loss) per share - Basic (in dollars per share)	$ (0.13)			$ 0.28			$ (0.59)	$ 0.49
Earnings Per Share, Diluted [Abstract]
Net income (loss)	$ (16,878)	$ (53,811)	$ (9,138)	$ 38,208	$ 25,992	$ 3,125	$ (79,827)	$ 67,323
Basic weighted average shares outstanding (in shares)	134,735,075			136,449,453			134,753,276	137,944,486
Effect of RSUs and options under the treasury stock method (in shares)	0			4,000			0	351,000
Diluted weighted average shares outstanding (in shares)	134,735,075			136,452,995			134,753,276	138,295,091
Net income (loss) per share - Diluted (in dollars per share)	$ (0.13)			$ 0.28			$ (0.59)	$ 0.49

NET INCOME (LOSS) PER COMMON _4

NET INCOME (LOSS) PER COMMON SHARE - Disclosure of Anti-Dilutive Shares (Details) - $ / shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excluded shares as anti-dilutive when reporting a net loss	0	0	73	0
Price range of options: from (in dollars per share)			$ 3.54
Price range of options: to (in dollars per share)			$ 13.98
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excluded shares as anti-dilutive when reporting a net loss	609	545	609	549
Price range of options: from (in dollars per share)	$ 3.54	$ 6.43	$ 3.54	$ 6.43
Price range of options: to (in dollars per share)	$ 13.98	$ 13.98	$ 13.98	$ 13.98
RSUs | Restricted Stock Units Service Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excluded shares as anti-dilutive when reporting a net loss	2,464	3,555	2,626	1,939
RSUs | Restricted Stock Units Service And Market Conditions But Market Not Met
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excluded shares as anti-dilutive when reporting a net loss	199	70	199	70

SHARE-BASED COMPENSATION - Rest

SHARE-BASED COMPENSATION - Restricted Stock Units (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Weighted Average Remaining Contractual Term (Years)
Weighted average remaining contractual terms, vested and deferred	8 months 12 days
RSUs
Number of Restricted Stock Units
Beginning of period balance (in shares)	3,861
Number of RSUs awarded (in shares)	580
Number of RSUs released (in shares)	(1,599)
Number of RSUs forfeited (in shares)	(190)
End of period balance (in shares)	3,861	2,652
RSUs vested and expected to vest (in shares)		2,652
RSUs exercisable (vested and deferred) (in shares)		41
Weighted average remaining recognition period in years	2 years
Unamortized compensation expense	$ 12,073
Weighted Average Purchase Price
Options weighted average purchase price (in dollars per shares)		$ 0
Vested and expected to vest weighted average purchase price (in dollars per shares)		0
Other than options weighted average purchase price exercisable, (in dollars per shares)		$ 0
Weighted Average Remaining Contractual Term (Years)
Weighted average remaining contractual terms	1 year 2 months 12 days
Weighted average remaining contractual terms, vested and expected	1 year 2 months 12 days
Weighted average remaining contractual terms, vested and deferred	0 years
Intrinsic Value
Aggregate intrinsic value of restricted stock units		$ 4,296
Aggregate intrinsic vested and expected to vest		4,296
Aggregate intrinsic (vested and deferred)		$ 67

SHARE-BASED COMPENSATION - Opti

SHARE-BASED COMPENSATION - Option Exercise Data (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Intrinsic value of options exercised	$ 0	$ 1,272
Tax benefit from options exercised	0	73
Cash received from exercise price of options exercised	$ 0	$ 244

SHARE-BASED COMPENSATION - Op_2

SHARE-BASED COMPENSATION - Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2020
Number of Options
Options beginning (in shares)	543,000
Options granted (in shares)	66,000
Options ending (in shares)	609,357
Options vested and expected to vest as of: (in shares)	609,000
Options vested and exercisable (in shares)	542,582
Weighted average remaining recognition period in years	8 months 12 days
Unamortized compensation expense	$ 37
Weighted Average Exercise Price
Weighted average exercise price - beginning (in dollars per shares)	$ 12.06
Weighted Average Exercise Price - granted (in dollars per shares)	5.40
Weighted average exercise price - ending (in dollars per shares)	11.33
Weighted average exercise price - vested and expected (in dollars per shares)	11.33
Weighted average exercise price - vested and exercisable (in dollars per shares)	$ 12.06
Weighted Average Remaining Contractual Term (Years)
Weighted Average Remaining Contractual Life, Outstanding	4 years
Weighted Average Remaining Contractual Life, Vested and Expected to Vest	4 years
Weighted Average Remaining Contractual Life, Vested and Exercisable	3 years 6 months
Intrinsic Value
Intrinsic Value, Outstanding	$ 0
Intrinsic Value, Vested and Expected to Vest	0
Intrinsic Value, Vested and Exercisable	$ 0

SHARE-BASED COMPENSATION - Outs

SHARE-BASED COMPENSATION - Outstanding and Exercisable Options (Details) - $ / shares	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price range of options: from (in dollars per share)	$ 3.54
Price range of options: to (in dollars per share)	$ 13.98
Number of options outstanding (in shares)	609,357	543,000
Weighted Average Remaining Contractual Life	4 years
Weighted Average Exercise Price (in dollars per shares)	$ 11.33	$ 12.06
Number of options exercisable (in shares)	542,582
Options Exercisable, Weighted Average Exercise Price (in dollars per shares)	$ 12.06
Exercise Prices One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price range of options: from (in dollars per share)	3.54
Price range of options: to (in dollars per share)	$ 7.01
Number of options outstanding (in shares)	66,775
Weighted Average Remaining Contractual Life	8 years 8 months 12 days
Weighted Average Exercise Price (in dollars per shares)	$ 5.40
Number of options exercisable (in shares)	0
Options Exercisable, Weighted Average Exercise Price (in dollars per shares)	$ 0
Exercise Prices Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price range of options: from (in dollars per share)	9.66
Price range of options: to (in dollars per share)	$ 13.98
Number of options outstanding (in shares)	542,582
Weighted Average Remaining Contractual Life	3 years 6 months
Weighted Average Exercise Price (in dollars per shares)	$ 12.06
Number of options exercisable (in shares)	542,582
Options Exercisable, Weighted Average Exercise Price (in dollars per shares)	$ 12.06

SHARE-BASED COMPENSATION - Non

SHARE-BASED COMPENSATION - Non Cash Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense included in operating expenses	$ 1,945	$ 3,341	$ 6,168	$ 10,286
Income tax benefit	480	770	1,452	2,258
After-tax stock-based compensation expense	1,465	2,571	4,716	8,028
Station operating expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense included in operating expenses	524	1,107	1,552	3,765
Corporate general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense included in operating expenses	$ 1,421	$ 2,234	$ 4,616	$ 6,521

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Effective income, percent	20.00%	29.50%	20.40%	30.90%
Estimated annual tax ,minimum			22.00%
Estimated annual tax, maximum			24.00%

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Recurring Fair Value Measurements (Details) - Other Long Term Liabilities - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Liabilities, Fair Value Disclosure [Abstract]
Deferred compensation plan liabilities	$ 30,728	$ 33,229
Interest Rate Cash Flow Hedge	3,051	189
Quoted prices in active markets Level 1
Liabilities, Fair Value Disclosure [Abstract]
Deferred compensation plan liabilities	24,380	25,592
Interest Rate Cash Flow Hedge	0	0
Significant other observable inputs Level 2
Liabilities, Fair Value Disclosure [Abstract]
Deferred compensation plan liabilities	0	0
Interest Rate Cash Flow Hedge	3,051	189
Significant unobservable inputs Level 3
Liabilities, Fair Value Disclosure [Abstract]
Deferred compensation plan liabilities	0	0
Interest Rate Cash Flow Hedge	0	0
Measured at Net Asset Value as a Practical Expedient
Liabilities, Fair Value Disclosure [Abstract]
Deferred compensation plan liabilities	6,348	7,637
Interest Rate Cash Flow Hedge	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Non-Recurring Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge			$ 15,957	$ 0
Licensing Agreements
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	$ 11,800	$ 4,100
Impairment charges, net of tax	$ 8,700	$ 3,000

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Term B-2 Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of debt	$ 755,378	$ 770,000
Fair value of debt	719,498	774,813
Revolver
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of debt	77,727	117,000
Fair value of debt	77,727	117,000
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of debt	400,000	400,000
Fair value of debt	335,000	423,250
Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of debt	425,000	425,000
Fair value of debt	366,563	454,750
Other Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of debt	808	873
Letter of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of debt	$ 6,834	$ 5,862

ASSETS HELD FOR SALE - Narrativ

ASSETS HELD FOR SALE - Narrative (Details)	3 Months Ended
	Jun. 30, 2020USD ($)license	Sep. 30, 2020USD ($)	Sep. 28, 2020numberOfStations	Dec. 31, 2019USD ($)
Long Lived Assets Held-for-sale [Line Items]
Net assets held for sale		$ 509,000		$ 10,188,000
Disposed of by sale | Equipment And Broadcasting License
Long Lived Assets Held-for-sale [Line Items]
Net assets held for sale				$ 10,200,000
Total proceeds	$ 10,800,000
Gain on sale	200,000
Held-for-sale,
Long Lived Assets Held-for-sale [Line Items]
Net assets held for sale	$ 500,000
Number of broadcasting licenses | license	2
Number of broadcasting stations | numberOfStations			2

ASSETS HELD FOR SALE - Assets H

ASSETS HELD FOR SALE - Assets Held for sale (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Long Lived Assets Held-for-sale [Line Items]
Net property and equipment	$ 77	$ 48
Total intangibles	509	10,188
Net assets held for sale	509	10,188
Licensing Agreements
Long Lived Assets Held-for-sale [Line Items]
Total intangibles	432	10,140
Total intangibles
Long Lived Assets Held-for-sale [Line Items]
Total intangibles	$ 432	$ 10,140

SHAREHOLDERS' EQUITY - Dividend

SHAREHOLDERS' EQUITY - Dividend Equivalent Liability (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Short-term	$ 540	$ 811
Long-term	527	913
Total	$ 1,067	$ 1,724

SHAREHOLDERS' EQUITY - Employee

SHAREHOLDERS' EQUITY - Employee Stock Purchase Plan (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Class of Stock [Line Items]
Non-cash compensation expense recognized	$ 1,945	$ 3,341	$ 6,168	$ 10,286
Employee Stock Purchase Plan
Class of Stock [Line Items]
Number of shares purchased (in shares)			166	260
Non-cash compensation expense recognized			$ 43	$ 182

SHAREHOLDERS' EQUITY - Share Re

SHAREHOLDERS' EQUITY - Share Repurchase Program (Details) $ in Millions	Sep. 30, 2020USD ($)
Stockholders' Equity Note [Abstract]
Available for future share repurchases	$ 41.6

SHAREHOLDERS' EQUITY - Sharehol

SHAREHOLDERS' EQUITY - Shareholder Rights Agreement (Details)	Apr. 20, 2020right$ / sharesshares
Class of Stock [Line Items]
Multiple of current purchase price per right	2
Class A Right
Class of Stock [Line Items]
Number stock purchase rights | right	1
Number of shares per right (in shares) | shares	0.001
Purchase price (in dollars per share) | $ / shares	$ 6.06
Exchange rate (in shares) | shares	0.001
Class B Right
Class of Stock [Line Items]
Number stock purchase rights | right	1
Number of shares per right (in shares) | shares	0.001
Purchase price (in dollars per share) | $ / shares	$ 6.06
Exchange rate (in shares) | shares	0.001
Common Class A
Class of Stock [Line Items]
Par Value (in dollars per share) | $ / shares	$ 0.01
Assets or earning power sold (in percent)	50.00%
Threshold of common stock owned by acquired person (in percent)	50.00%
Ownership threshold	10.00%
Percentage of common stock acquired that will cause diluted (in percent)	10.00%
Percentage of common stock acquired by passive institutional investors that will cause dilution (in percent)	15.00%
Common Class B
Class of Stock [Line Items]
Par Value (in dollars per share) | $ / shares	$ 0.01

SUBSEQUENT EVENTS - (Details)

SUBSEQUENT EVENTS - (Details) - Subsequent Event $ in Millions	Nov. 09, 2020USD ($)	Nov. 05, 2020numberOfStations
QL Gaming Group
Subsequent Event [Line Items]
Purchase price | $	$ 32
Urban One | Charlotte, North Carolina
Subsequent Event [Line Items]
Number of stations to be exchanged		4
Urban One | St. Louis, Missouri
Subsequent Event [Line Items]
Number of stations to be exchanged		1
Urban One | Washington, D.C.
Subsequent Event [Line Items]
Number of stations to be exchanged		1
Urban One | Philadelphia, Pennsylvania
Subsequent Event [Line Items]
Number of stations to be exchanged		1

Uncategorized Items - etm-20200

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 4,719,000
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 4,719,000