Revenue during the quarter grew 4.68 percent to $123.21 million from $117.70 million in the previous year period. Total expenses were 75.62 percent of quarterly revenues, up from 72.34 percent for the same period last year. That has resulted in a contraction of 328 basis points in operating margin to 24.38 percent.

Operating income for the quarter was $30.04 million, compared with $32.56 million in the previous year period.

However, the adjusted EBITDA for the quarter was almost stable at $35.16 million, when compared with the prior year period. At the same time, adjusted EBITDA margin contracted 140 basis points in the quarter to 28.54 percent from 29.94 percent in the last year period.

David J. Field, president and chief executive officer, stated: "Entercom posted another solid quarter of organic growth, completing an excellent year during which same-station revenues increased 4%, adjusted net income grew 13% and free cash flow improved 16%. And since the start of Q4, we have acquired a great new cluster of stations in Charlotte and successfully refinanced our credit facility to drive our interest expense down by roughly $10 million annually. Of course, our biggest news is our recently announced plan to merge with CBS Radio, a transformational event that will create scale-driven opportunities to compete more effectively with other media to accelerate growth. The combined company will be exceedingly well positioned to serve its listeners, advertisers, communities, shareholders, and employees and we are very excited about the opportunities that lie ahead."