CONTINGENCIES, GUARANTOR ARRANGEMENTS AND COMMITMENTS (Tables)

12 Months Ended

Dec. 31, 2015

		Future Minimum Annual Commitments
			Sale
		Rent Under	Leaseback		Programming
	Operating		Operating		And Related
	Leases		Leases		Contracts		Total
	(amounts in thousands)
Years ending December 31,
2016	$	17,167	$	841	$	81,589	$	99,597
2017		17,174		865		32,317		50,356
2018		14,552		891		9,957		25,400
2019		12,935		918		2,129		15,982
2020		9,903		946		551		11,400
Thereafter		28,301		9,691		258		38,250
	$	100,032	$	14,152	$	126,801	$	240,985

ENTERCOM COMMUNICATIONS CORP.
CONDENSED PARENT COMPANY BALANCE SHEETS
(amounts in thousands)

	2015		2014
ASSETS

Current Assets	$	7,289	$	6,446
Property And Equipment - Net		472		495
Deferred Charges And
Other Assets - Net		3,807		2,233
Investment In Subsidiaries / Intercompany		424,493		360,091
TOTAL ASSETS	$	436,061	$	369,265

LIABILITIES AND
SHAREHOLDERS' EQUITY
Current Liabilities	$	19,631	$	14,041
Long Term Liabilities		27,361		26,203
Total Liabilities		46,992		40,244
Perpectual Cumulative Convertible Preferred Stock		27,619		-
Shareholders' Equity:
Class A, B and C Common Stock		397		391
Additional Paid-In Capital		611,754		608,515
Accumulated Deficit		(250,701)		(279,885)
Total shareholders' equity		361,450		329,021
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY	$	436,061	$	369,265

See notes to condensed Parent Company financial statements.

ENTERCOM COMMUNICATIONS CORP.
CONDENSED PARENT COMPANY INCOME STATEMENTS
(amounts in thousands)

	YEARS ENDED DECEMBER 31,
	2015		2014		2013

NET REVENUES	$	1,536	$	1,309	$	615

OPERATING (INCOME) EXPENSE:
Depreciation and amortization expense		1,123		1,217		1,122
Corporate general and administrative expenses		26,395		26,463		24,229
Merger and acquisition costs and restructuring charges		6,836		1,042		-
Net (gain) loss on sale or disposal of assets		(601)		(601)		(1,954)
Total operating expense		33,753		28,121		23,397
OPERATING INCOME (LOSS)		(32,217)		(26,812)		(22,782)

OTHER (INCOME) EXPENSE:
Net interest expense, including amortization
of deferred financing expense		-		15		1
Other expense (income)		-		-		(165)
Income from equity investment in subsidiaries		(79,838)		(73,561)		(71,118)
TOTAL OTHER (INCOME) EXPENSE		(79,838)		(73,546)		(71,282)

INCOME (LOSS) BEFORE INCOME TAXES (BENEFIT)		47,621		46,734		48,500

INCOME TAXES (BENEFIT)		18,437		19,911		22,476
NET INCOME (LOSS) AVAILABLE TO THE COMPANY		29,184		26,823		26,024
Preferred stock dividend		(752)		-		-
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS	$	28,432	$	26,823	$	26,024

See notes to condensed Parent Company financial statements.

ENTERCOM COMMUNICATIONS CORP.
PARENT COMPANY STATEMENTS OF SHAREHOLDERS' EQUITY
YEARS ENDED DECEMBER 31, 2015, 2014 AND 2013
(amounts in thousands, except share data)

									Retained
	Common Stock						Additional		Earnings
	Class A			Class B			Paid-in		(Accumulated
	Shares	Amount		Shares	Amount		Capital		Deficit)		Total
Balance, December 31, 2012	31,226,047	$	312	7,197,532	$	72	$	601,847	$	(332,737)	$	269,494
Net income (loss) available to the Company	-		-	-		-		-		26,024		26,024
Compensation expense related to granting
of stock awards	96,560		1	-		-		4,269		-		4,270
Exercise of stock options	171,625		2	-		-		243		-		245
Purchase of vested employee restricted
stock units	(186,038)		(2)	-		-		(1,638)		-		(1,640)
Balance, December 31, 2013	31,308,194		313	7,197,532		72		604,721		(306,713)		298,393
Net income (loss) available to the Company	-		-	-		-		-		26,823		26,823
Compensation expense related to granting
of stock awards	638,102		7	-		-		5,225		-		5,232
Exercise of stock options	57,500		-	-		-		82		-		82
Purchase of vested employee restricted
stock units	(141,502)		(1)	-		-		(1,513)		-		(1,514)
Forfeitures of dividend equivalents	-		-	-		-		-		5		5
Balance, December 31, 2014	31,862,294		319	7,197,532		72		608,515		(279,885)		329,021
Net income (loss) available to the Company	-		-	-		-		-		29,184		29,184
Compensation expense related to granting
of stock awards	738,195		7	-		-		5,517		-		5,524
Exercise of stock options	11,750		-	-		-		35		-		35
Purchase of vested employee restricted
stock units	(131,688)		(1)	-		-		(1,561)		-		(1,562)
Preferred stock dividend	-		-	-		-		(752)		-		(752)
Balance, December 31, 2015	32,480,551	$	325	7,197,532	$	72	$	611,754	$	(250,701)	$	361,450

See notes to Parent Company financial statements.

ENTERCOM COMMUNICATIONS CORP.
CONDENSED PARENT COMPANY STATEMENTS OF CASH FLOWS
(amounts in thousands)

	YEARS ENDED DECEMBER 31,
	2015		2014		2013

OPERATING ACTIVITIES:
Net cash provided by (used in) operating activities	$	(25,355)	$	(21,652)	$	(18,167)

INVESTING ACTIVITIES:
Additions to property and equipment		(304)		(213)		(146)
Deferred charges and other assets		(1,142)		(481)		(468)
Proceeds (distributions) from investments in subsidiaries		29,030		23,610		20,208
Net cash provided by (used in) investing activities		27,584		22,916		19,594

FINANCING ACTIVITIES:
Payment of fees associated with the issuance of preferred stock		(220)		-		-
Proceeds from the exercise of stock options		35		82		245
Purchase of vested employee restricted stock units		(1,562)		(1,514)		(1,640)
Payment of dividend equivalents on vested restricted stock units		(7)		-		-
Payment of dividends		(413)		-		-
Net cash provided by (used in) financing activities		(2,167)		(1,432)		(1,395)

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		62		(168)		32
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR		133		301		269
CASH AND CASH EQUIVALENTS, END OF YEAR	$	195	$	133	$	301

See notes to condensed Parent Company financial statements.

Bonneville Exchange
Markets	Radio Stations	Transactions
Los Angeles, CA	KSWD FM	Company acquired from Bonneville
Denver, CO	KOSI FM	Company disposed to Bonneville
Denver, CO	KYGO FM; KEPN AM	Company disposed to Bonneville
Denver, CO	KKFN FM	The trust disposed to Bonneville

Lincoln Acquisition
Markets	Radio Stations	Transactions
Denver, CO	KKFN FM	The trust acquired from Lincoln
Denver, CO	KYGO FM; KEPN AM	Company acquired from Lincoln
Denver, CO	KQKS FM; KRWZ AM	Company acquired from Lincoln
Atlanta, GA	WSTR FM; WQXI AM	Company acquired from Lincoln
Miami, FL	WAXY AM/FM; WLYF FM; WMXJ FM	Company acquired from Lincoln
San Diego, CA	KBZT FM; KSON FM/KSOQ FM; KIFM FM	Company acquired from Lincoln

	As Reported				As Revised
	September 30,				December 31,		Useful Lives In Years
Description	2015		Adjustment		2015		From	To
	(amounts in thousands)

Other receivables	$	4,175	$	689	$	4,864
Equipment		1,012		-		1,012	3	15
Furniture and fixtures		121		-		121	5	5
Total tangible property		1,133		-		1,133
Advertiser lists and customer relationships		1		-		1	3	3
Trademarks and trade names		2		-		2	5	5
Broadcasting licenses		53,371		(314)		53,057	non-amortizing
Goodwill		641		(375)		266	non-amortizing
Total intangible assets		54,015		(689)		53,326
Total assets		59,323		-		59,323
Unfavorable contract and lease liabilities		(323)		-		(323)	1	4
Net assets acquired	$	59,000	$	-	$	59,000
Fair value of net assets provided
as consideration	$	59,000	$	-	$	59,000