Entercom Communications Corp. (ETM, Financial) filed Annual Report for the period ended 2010-12-31.
Entercom Communications has a market cap of $389.3 million; its shares were traded at around $11 with a P/E ratio of 10.4 and P/S ratio of 1. Hedge Fund Gurus that owns ETM: Paul Tudor Jones of The Tudor Group, Jim Simons of Renaissance Technologies LLC. Mutual Fund and Other Gurus that owns ETM: Mario Gabelli of GAMCO Investors.
In recent years, the FCC has received a substantial number of complaints alleging that broadcast stations have carried indecent programming at times when children may be in the audience, in violation of federal criminal law and the FCCs policies which prohibit programming that is deemed to be indecent or profane under FCC decisions and is broadcast during the period between 6:00 am and 10:00 pm; the period between 10:00 pm through 6:00 am is considered to be a safe harbor period and less stringent standards apply to programming carried then. FCC regulations prohibit the broadcast of obscene material at any time. The FCC has greatly intensified its enforcement activities with respect to programming which it considers indecent or profane, including: (i) adopting rules to implement the statutory increase in the maximum fine which may be assessed for the broadcast of indecent or profane programming to $325,000 for a single violation, up to a maximum of $3,000,000 for a continuing violation; (ii) imposing fines on a per utterance basis instead of the imposition of a single fine for an entire program; and (iii) repeatedly warning broadcasters that future serious violations may result in the commencement of license revocation proceedings. There are a number of outstanding indecency proceedings in which we are defending our stations conduct, and there may be other complaints of this nature which have been submitted to the FCC of which we have not yet been notified.
Enforcement Authority. The FCC has the power to impose penalties for violations of its rules under the Communications Act, including the imposition of monetary fines, the issuance of short-term licenses, the imposition of a condition on the renewal of a license, the denial of authority to acquire new stations, and the revocation of operating authority. The maximum fine for a single violation of the FCCs rules (other than indecency rules) is currently $37,500. The maximum fine for a violation of the FCCs indecency rules is $325,000 for each violation or each day of a continuing violation, with a maximum fine of up to $3,000,000 for a continuing violation.
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Entercom Communications has a market cap of $389.3 million; its shares were traded at around $11 with a P/E ratio of 10.4 and P/S ratio of 1. Hedge Fund Gurus that owns ETM: Paul Tudor Jones of The Tudor Group, Jim Simons of Renaissance Technologies LLC. Mutual Fund and Other Gurus that owns ETM: Mario Gabelli of GAMCO Investors.
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As of January 31, 2011, the aggregate market value of the Class A common stock held by non-affiliates of the registrant was $212,105,459 based on the June 30, 2010 closing price of $8.82 on the New York Stock Exchange on such date.In recent years, the FCC has received a substantial number of complaints alleging that broadcast stations have carried indecent programming at times when children may be in the audience, in violation of federal criminal law and the FCCs policies which prohibit programming that is deemed to be indecent or profane under FCC decisions and is broadcast during the period between 6:00 am and 10:00 pm; the period between 10:00 pm through 6:00 am is considered to be a safe harbor period and less stringent standards apply to programming carried then. FCC regulations prohibit the broadcast of obscene material at any time. The FCC has greatly intensified its enforcement activities with respect to programming which it considers indecent or profane, including: (i) adopting rules to implement the statutory increase in the maximum fine which may be assessed for the broadcast of indecent or profane programming to $325,000 for a single violation, up to a maximum of $3,000,000 for a continuing violation; (ii) imposing fines on a per utterance basis instead of the imposition of a single fine for an entire program; and (iii) repeatedly warning broadcasters that future serious violations may result in the commencement of license revocation proceedings. There are a number of outstanding indecency proceedings in which we are defending our stations conduct, and there may be other complaints of this nature which have been submitted to the FCC of which we have not yet been notified.
Enforcement Authority. The FCC has the power to impose penalties for violations of its rules under the Communications Act, including the imposition of monetary fines, the issuance of short-term licenses, the imposition of a condition on the renewal of a license, the denial of authority to acquire new stations, and the revocation of operating authority. The maximum fine for a single violation of the FCCs rules (other than indecency rules) is currently $37,500. The maximum fine for a violation of the FCCs indecency rules is $325,000 for each violation or each day of a continuing violation, with a maximum fine of up to $3,000,000 for a continuing violation.
Read the The complete Report
