entercom suffers $10m 1q loss caused by rising costs from pending cbs merger /

With costs related to the pending acquisition of CBS Radio rising and the radio industry suffering from a weak performance,Entercom Communications Corp. said it lost nearly $10 million in the first quarter.
The Bala Cynwyd, Pa.-based radio company lost $9.9 million, or 25 cents per share,compared with a profit of $3.9 million, or 10 cents per share, or in the same period of 2016.
Entercom (NYSE: ETM) said net revenues for the quarter inched up by 1.4 percent but station expenses increased by 5 percent…





Source: bizjournals.com