Entercom Communications Corp. Announces Expiration of ...

BALA CYNWYD, Pa., Jan 26, 2012 (BUSINESS WIRE) ?
Entercom Communications Corp. (the ?Company?)

/quotes/zigman/248332/quotes/nls/etm ETM
+2.47%

announced
today the expiration of the exchange offer by its wholly owned finance
subsidiary Entercom Radio, LLC (?Entercom Radio?) for Entercom Radio?s
outstanding unregistered 10 1/2% Senior Notes due 2019, Series A (the
?Outstanding Notes?). The Outstanding Notes were originally issued on
November 23, 2011, in a private placement exempt from the registration
requirements of the Securities Act of 1933, as amended.

In the exchange offer, $220 million aggregate principal amount of
Outstanding Notes were validly tendered and not validly withdrawn prior
to the expiration of the exchange offer one minute after 11:59 p.m.,
Eastern Standard Time, on January 25, 2012, which represents 100% of the
aggregate principal amount of Outstanding Notes outstanding upon
commencement of the exchange offer. Entercom Radio accepted for exchange
all of the Outstanding Notes validly tendered and not validly withdrawn
and settlement will occur promptly. At settlement, the Outstanding Notes
accepted will be exchanged for an equal principal amount of a new issue
of 10 1/2% Senior Notes due 2019, Series B (the ?Exchange Notes?). Terms
of the Exchange Notes are substantially identical to those of the
Outstanding Notes, except that the transfer restrictions and
registration rights relating to the Outstanding Notes do not apply to
the Exchange Notes.

This press release is for informational purposes only, and is not an
offer to buy or the solicitation of an offer to sell any security. The
exchange offer was made only pursuant to the exchange offer documents,
including the prospectus and letter of transmittal that were distributed
to the holders of the original notes and have been filed with the
Securities and Exchange Commission.

Entercom Communications Corp. is the fourth largest radio broadcasting
company in the United States, with a nationwide portfolio in excess of
100 stations in 23 markets, including San Francisco, Boston, Seattle,
Denver, Portland, Sacramento and Kansas City.

Note Regarding Forward-Looking Statements

The information in this news release is being widely disseminated in
accordance with the Securities and Exchange Commission?s Regulation FD.

This news announcement contains certain forward-looking statements that
are based upon current expectations and involves certain risks and
uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Additional information and key risks are
described in the Company?s filings on Forms 8-K, 10-Q and 10-K with the
Securities and Exchange Commission. Readers should note that these
statements might be impacted by several factors including changes in the
economic and regulatory climate and the business of radio broadcasting,
in general. Accordingly, the Company?s actual performance may differ
materially from those stated or implied herein. The Company assumes no
obligation to publicly update or revise any forward-looking statements.

SOURCE: Entercom Communications Corp.

Entercom Communications Corp.
Steve Fisher
Executive Vice President ? Operations and Chief Financial Officer
610-660-5647

Copyright Business Wire 2012

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Entercom Communications Corp. Cl A

US

: NYSE Euronx

$
6.65

+0.16
+2.47%

Volume: 162,060
April 2, 2012 4:03p

P/E Ratio3.67
Dividend YieldN/A

Market Cap$249.49 million
Rev. per Employee$256,176

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