EX-99.(A)(1)(XIV) 3 a2171453zex-99_a1xiv.htm EXHIBIT 99(A)(1)(XIV)

EXHIBIT (a)(1)(xiv)

ENTERCOM COMMUNICATIONS CORP.

SUPPLEMENT TO OFFER TO EXCHANGE CERTAIN OUTSTANDING
OPTIONS FOR SHARES OF RESTRICTED CLASS A COMMON STOCK

THE OFFER AND WITHDRAWAL RIGHTS EXPIRE AT
5:00 P.M., EASTERN DAYLIGHT TIME
ON THURSDAY, JULY 6, 2006, UNLESS THE OFFER IS EXTENDED

        Entercom Communications Corp. (the "Company") hereby supplements the Offer to Exchange, dated June 5, 2006, to provide the following summary financial information for your reference:

Statement of Operations Data
(in thousands, except per share and ratio data)

 
  Year Ended
  Three Months Ended
 
  December 31,
  March 31,
 
  2005
  2004
  2006
  2005
Net Revenues   $ 432,520   $ 423,455   $ 91,135   $ 94,307
Total Operating Expense   $ 279,552   $ 278,259   $ 69,325   $ 61,967
Operating Income   $ 152,968   $ 145,196   $ 21,810   $ 32,340
Total Other Expense   $ 25,383   $ 21,673   $ 9,229   $ 5,811
Net Income   $ 78,361   $ 75,634   $ 7,755   $ 16,237

Net Income Per Share—Basic

 

$

1.70

 

$

1.51

 

$

0.19

 

$

0.34
Net Income Per share—Diluted   $ 1.70   $ 1.50   $ 0.19   $ 0.34

Weighted Average Shares—Basic

 

 

46,045

 

 

50,215

 

 

41,344

 

 

47,638
Weighted Average Shares—Diluted     46,221     50,534     41,468     47,917

Ratio of Earnings (Less Fixed Charges) To Fixed Charges

 

 

5.18

 

 

6.58

 

 

2.28

 

 

4.92

Balance Sheet Data
(in thousands, except per share data)

 
  As Of
December 31,

  As Of
March 31,

 
  2005
  2004
  2006
  2005
Current Assets   $ 108,883   $ 105,460   $ 104,555   $ 98,677
Non Current Assets   $ 1,588,875   $ 1,562,501   $ 1,587,275   $ 1,563,670
Current Liabilities   $ 34,957   $ 25,783   $ 26,189   $ 21,993
Non Current Liabilities   $ 777,086   $ 646,105   $ 864,560   $ 716,508
Book Value Per Share   $ 19.24   $ 19.84   $ 19.38   $ 19.39
Shares Used In Computing Book Value Per Share     46,045     50,215     41,344     47,638