Lawyers are involved.
There appears to be a lot of fast talk but the last thing Entercom needs is to pull out a gun and shoot itself in the foot again.
The stock is 39 cents shy of the $4 range – unthinkable when the CBS merger was announced and Entercom stock was flying high at $16.
Investors are concerned with impairment charges that Entercom is writing off to reflect the new, lower valuation of its assets.
And a fear that more impairment charges are coming as Entercom fails to put its CBS merger on track and is stifled by the same revenue decline that has affected other radio groups.
Now there is this new development …
- How the FCC caught Entercom red-handed.
- Entercom’s shocking defense.
- How a disgruntled CBS employee may have dropped a dime to turn them in.
- The offense was bogus until the FCC sniffed around and found something else.
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