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MarketScreener Homepage  >  Equities  >  Nyse  >  Entercom Communications Corp.    ETM

ENTERCOM COMMUNICATIONS CORP.

(ETM)
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Entercom Communications : RADIO.COM Partnership With Edison Interactive Brings Premium Audio Content to Expanded Range of Connected Vehicles - Entercom Communications

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09/03/2020 | 05:51am EDT

PHILADELPHIA, PA - Entercom, a leading media and entertainment company and the #1 creator of live, original and local audio content, and the home of RADIO.COM, the fastest growing digital audio platform in America, today announced a partnership with Edison Interactive (EI), an innovative software provider building Internet of Things (IoT) solutions for trains, planes, automobiles and golf cars. As part of the partnership, RADIO.COM, will be integrated into connected vehicles, giving users access to the exclusive digital home for all Entercom content across its leading portfolio of over 230 stations, along with hundreds of affiliate stations, thousands of top podcasts, and premium content across local and national news, entertainment, music and sports in markets all across the U.S., beginning today.

RADIO.COM will be available through The Avis Budget Group Travel Assistant developed by Edison. The platform was built to make travel easier and more enjoyable, offering business and leisure car rental customers an enhanced digital experience with unique features and the top streaming media apps, including RADIO.COM. The combination of the tablet's key features like unlimited talk and text, and immediate access to top media and gaming apps, along with industry-leading streaming speeds powered by Verizon, the car rental customer is digitally captivated from the beginning to the end of their journey. The Travel Assistant is easily accessible and affordable to rent at top airport markets and local-market locations throughout the U.S. and in Canada.

"Partnering with Edison allows us to expand the reach of our premium audio content on a local and national scale while expanding how we define the connected vehicle listening experience. We want our listeners to be able to stay connected to their favorite stations and podcasts regardless of the type of vehicle they may be in," said David Rosenbloom, Vice President, Corporate Business Development, Entercom. "We are excited to reach customers out of home in new and exciting ways in the transportation landscape."

"We are heavily invested to develop solutions that amplify the customer experience," said Jeremy Ostermiller, Chief Executive Officer, Edison Interactive. "By integrating RADIO.COM into our connected vehicle platform, we not only give end-users unprecedented access to hundreds of stations and thousands of podcasts, but they can also now enjoy the music and personalities they love. The partnership with Entercom heightens the customer experience while providing transportation brands access to premium audio content on customized devices."

Edison Interactive builds customized customer experience platforms such as Shark Experience presented by Verizon, and Avis Budget Group (ABG) Travel Assistant. Shark Experience is a revolutionary way to enhance golf by bringing connectivity, content and dynamic yardage to the golf course. More than 23,000 golf cars in the U.S. now have Shark Experience.

CONTACT:

Jennifer Morales

Entercom

212-649-9685

Jennifer.Morales@entercom.com

@EntercomPR

Frankie Cervantes

Edison Interactive

frankie@edisoninteractive.com

@edisoninteract1

About Entercom Communications Corp.

Entercom Communications Corp. (NYSE: ETM) is a leading audio and entertainment company engaging over 170 million consumers each month through its iconic broadcast brands, expansive digital platform, premium podcast network and live events and experiences. With presence in every major U.S. market, and accessible on every device, Entercom delivers the industry's most compelling live and on-demand content and experiences from voices and influencers its communities trust and love. The company's robust portfolio of assets and integrated solutions offer advertisers today's most engaged audiences through targeted reach, brand amplification and local activation-all at national scale. Entercom is the unrivaled leader in local radio sports and news and the #1 creator of live, original local audio content in the U.S. Learn more at www.entercom.com, Facebook and Twitter (@Entercom).

About Edison Interactive

Edison Interactive is a leading software provider that builds customized interactive customer experience solutions for complex environments. Edison has built unparalleled customer experience solutions for industry-leading Fortune 500 companies. Shark Experience presented by Verizon is now available in 23,000+ golf cars in the U.S., and the Avis Budget Group (ABG) Travel Assistant is available to car rental customers at top airport and local-market locations throughout the U.S. and Canada with plans to expand globally. With robust analytics and ancillary revenue opportunities, Edison has enabled brands to connect with customers in more relevant and meaningful ways. The company was founded in 2016, and is headquartered in Denver, Colo. Visit www.edisoninteractive.com to learn more about the company's innovative customer experience technology, tools and solutions.

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(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE


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Financials (USD)
Sales 2020 1 058 M - -
Net income 2020 -49,0 M - -
Net Debt 2020 - - -
P/E ratio 2020 -4,36x
Yield 2020 1,27%
Capitalization 217 M 217 M -
Capi. / Sales 2020 0,20x
Capi. / Sales 2021 0,17x
Nbr of Employees 5 600
Free-Float 82,4%
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 2,00 $
Last Close Price 1,57 $
Spread / Highest target 123%
Spread / Average Target 27,4%
Spread / Lowest Target -36,3%
EPS Revisions
Managers
NameTitle
David J. Field Chairman, President & Chief Executive Officer
Susan Larkin Chief Operating Officer
Richard J. Schmaeling Chief Financial Officer & Executive Vice President
Joseph M. Field Chairman-Emeritus
David J. Berkman Lead Independent Director
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