Whatever happened to the business of radio?
Townsquare is a digital play not a radio company deriving half its revenue from digital.
iHeart is anything you want it to be but call it “audio” not radio.
As of yesterday, Entercom became a new age sports partner of betting app FanDuel while their radio stations are relegated to being a computer in a closet.
- But get this – almost 32 million people ran out to buy Entercom stock (ETM) Thursday based on the Entercom/FanDuel “partnership” when an average day’s trading for ETM is only 1.1 million.
Why are radio companies distancing themselves from their core business and more precisely what is Entercom up to wrapping itself in sports betting when their stations are being stripped down for cost savings?
What does the market know about Entercom?
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