Entercom Weathers Downturn in Q2

Entercom Communications Corp. said its second fiscal quarter net revenues declined 2% from the same period in 2000, to $94.6 million. The company’s broadcast cash flow also declined 2%, to $40.6 million, from the same period in 2000.
Entercom is one of 5 founding partners in the Local Market Internet Venture, a radio industry Internet services consortium. Entercom posted a charge of $1 million related to the company’s share of the LMIV’s losses in the second quarter.
The company stated that in July, Entercom’s same station revenue was essentially flat.