Total 5 Posts
Entercom Communications Corp is a leading American media and entertainment company reaching and engaging over 170 million people each month through radio stations, digital platforms, and live events. As one of the country’s two largest radio broadcasters, Entercom delivers the power of local connection on a national scale with coverage of close to 90% of persons 12+ in the top 50 markets. The #1 creator of live, original, local audio content and the nation’s leader in news and sports radio.
In April, when we wrote up out thoughts on Entercom, we were swimming against the tide. Short sellers were rampaging claiming the company would collapse during Covid-19 under the weight of its debt. The share price was plunging.
We were purchasing shares when we saw the share price dropping due to CoronaVirus. We felt the drop was magnified by: the company reporting large losses (even though they were due to non-cash items and cash flow had been strong) debt levels that were going to scare the market
I want to tell you about a family management team who bought shares in their company during troubled times in the past and sold them during better times for large rewards. In fact, a family management team that has done this not once, but twice. And they are buying shares their company again.