ETM - Mergers and acquisitions

PHILADELPHIA--(BUSINESS WIRE)--Entercom (NYSE: ETM), home to premium podcast companies Cadence13 and Pineapple Street Studios, today announced the acquisition of Podcorn, the largest marketplace for brands to find and collaborate with the most relevant podcasters to create native advertising and branded content at scale. The transaction values Podcorn at $22.5 million today, with an upfront cash payment of $14.6 million and a performance-based earnout over the next 3 years. “The acquisition of Podcorn expands Entercom’s product offering for advertisers and builds on our position as one of the country’s three largest podcast publishers and the #1 creator of original, premium audio c

PHILADELPHIA--(BUSINESS WIRE)--Entercom Communications Corp. (NYSE: ETM) today reported financial results for the quarter ended December 31, 2020. Fourth Quarter Summary Net revenues for the quarter were $319.5 million, up 19% compared to the third quarter of 2020 and down 23% compared to the fourth quarter of 2019 Our events business, which contributed 7% of our fourth quarter 2019 net revenues, continued to be significantly disrupted by COVID-19 and our event revenues for the quarter were down 98% compared to the fourth quarter of 2019 Digital revenues were $58.8 million, up 23% compared to the fourth quarter of 2019, propelled by continued strong audience and revenue grow