Revenue during the quarter went up marginally by 1.40 percent to $97.45 million from $96.10 million in the previous year period. Operating margin for the quarter stood at negative 15.41 percent as compared to a positive 15.34 percent for the previous year period.

Operating loss for the quarter was $15.02 million, compared with an operating income of $14.74 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $14.12 million compared with $18.27 million in the prior year period. At the same time, adjusted EBITDA margin contracted 453 basis points in the quarter to 14.49 percent from 19.01 percent in the last year period.

David J. Field, president and chief executive officer, stated: "I am very pleased with our progress on all fronts as we continue to plan and prepare for our transformational merger with CBS Radio. This will truly be a game-changing event for Entercom as we will achieve a number of scale-related benefits, including the ability to compete far more effectively against other media for a larger share of advertising spending. First quarter revenues increased 1.4%, down about 1% on a same-station basis ex-political. We experienced a highly unusual degree of large one-time only expenses during the quarter (including the return of a station license in Sacramento, CBS transaction costs and our CFO transition), that drove expenses significantly higher. Looking ahead to the completion of the merger with CBS, we expect synergies that will drive margin expansion."