SC 13D/A 1 a09-8698_2sc13da.htm SC 13D/A

 

 

UNITED STATES

 

 

SECURITIES AND EXCHANGE COMMISSION

 

 

Washington, DC 20549

 

 

 

 

 

SCHEDULE 13D

 

 

Under the Securities Exchange Act of 1934
(Amendment No. 3)

 

Entercom Communications Corp.

(Name of Issuer)

 

Class A Common Stock, par value $0.01 per share

(Title of Class of Securities)

 

293639100

(CUSIP Number)

 

Joseph M. Field

c/o Entercom Communications Corp.

401 City Avenue, Suite 809

Bala Cynwyd, PA 19004

(610) 660-5610

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

March 25, 2009

(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 


 

CUSIP No.   293639100

 

 

1.

Name of Reporting Person
Joseph M. Field

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

 x

 

 

(b)

 o

 

 

3.

SEC Use Only

 

 

4.

Source of Funds (See Instructions)
PF

 

 

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e).     o

 

 

6.

Citizenship or Place of Organization
United States of America

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

7.

Sole Voting Power
7,650,905

 

8.

Shared Voting Power
1,525,636

 

9.

Sole Dispositive Power
7,650,905

 

10.

Shared Dispositive Power
1,525,636

 

 

11.

Aggregate Amount Beneficially Owned by Each Reporting Person
9,176,541

 

 

12.

Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)   o

 

 

13.

Percent of Class Represented by Amount in Row 9
21.57%

 

 

14.

Type of Reporting Person (See Instructions)
IN

 

2


 

CUSIP No.   293639100

 

Item 3.

Source and Amount of Funds or Other Consideration.

From December 5, 2008 through March 25, 2009, Joseph M. Field acquired 801,073 shares of Issuer Class A common stock in open market transactions using his personal funds. (See Item 5(c) for disclosure regarding shares recently purchased in the open market). These shares acquired, net of an aggregate of 520,000 shares gifted by Joseph M. Field to trusts for the benefit of his son (i.e., David J. Field) and daughter, represent a net beneficial ownership increase of 281,073 shares since Joseph M. Field’s Schedule 13D/A (Amendment 2) filed on December 5, 2008.

 

 

Item 4.

Purpose of Transaction.

Joseph M. Field previously reported that he and David J. Field may be deemed have formed a “group” for Section 13 purposes as a result of their coordination of purchases through a common broker (as required under Rule 10b-18) as well as agreeing on an allocation of daily Rule 10b-18 purchases. Joseph M. Field understands that David J. Field has satisfied his share purchase intentions under a previously established 10b5-1 plan and is not presently acquiring shares of the Issuer. Accordingly, a group is no longer deemed to exist for Section 13 purposes.

 

Joseph M. Field is acquiring shares for investment purposes.

 

Joseph M. Field intends to review his investment in the Issuer on a continuing basis and, depending on various factors, including the Issuer’s business, affairs and financial position, other developments concerning the Issuer, the Issuer’s investment strategy, the price level of the Issuer’s Class A Common Stock, conditions in the securities markets and general economic and industry conditions, as well as other investment opportunities, may in the future take such actions with respect to his investment in the Issuer as he deems appropriate in light of the circumstances existing from time to time.

 

 

Item 5.

Interest in Securities of the Issuer.

 

(a)           Amount Beneficially Owned:

 

9,176,541

 

 

Joseph M. Field beneficially owns 9,176,541 shares which includes: (i) 1,289,045 shares of Class A common stock for which Joseph M. Field is the record holder; (ii) 6,228,282 shares of Class A common stock which may be acquired upon conversion of shares of Class B common stock for which Joseph M. Field is the record holder; (iii) 330,000 shares of Class A common stock which may be acquired upon conversion of shares of Class B common stock beneficially owned by the spouse of Joseph M. Field; (iv) 100,000 shares of Class A common stock which may be acquired through the exercise of options; (v) 33,578 shares of Class A common stock held of record by Joseph M. Field as trustee of a trust; (vi) 318,462 shares of Class A common stock held of record by the spouse of Joseph M. Field as co-trustee of various trusts; (vii) 777,174 shares of Class A common stock beneficially owned by Joseph M. Field as a director and officer of the Joseph and Marie Field Foundation; and (viii) 100,000 shares of Class A

 

3


 

CUSIP No.   293639100

 

common stock beneficially owned by the spouse of Joseph M. Field as the sole member of a limited liability company.

 

(b)           Number of shares as to which such person has:

 

(i)

sole power to vote or to direct the vote:

 

7,650,905

 

(ii)

shared power to vote or to direct the vote:

 

1,525,636

 

(iii)

sole power to dispose or to direct the disposition of:

 

7,650,905

 

(iv)

shared power to dispose or to direct the disposition of:

 

1,525,636

 

 

(c)         Since January 25, 2009, Joseph M. Field has acquired an aggregate of 756,473 shares of the Issuer’s Class A Common Stock through broker Merrill Lynch, Pierce, Fenner & Smith Incorporated as follows:

 

Date of
Purchase

 

Number of
Shares
Purchased

 

Purchase
Price Per
Share

 

1/26/2009

 

2,525

 

$

1.1500

 

1/26/2009

 

1,725

 

$

1.1400

 

1/26/2009

 

4,200

 

$

1.1300

 

1/26/2009

 

225

 

$

1.1200

 

1/26/2009

 

200

 

$

1.1100

 

1/26/2009

 

25

 

$

1.1000

 

1/26/2009

 

275

 

$

1.0900

 

1/26/2009

 

175

 

$

1.0800

 

1/26/2009

 

25

 

$

1.0700

 

1/27/2009

 

3,275

 

$

1.2000

 

1/27/2009

 

1,525

 

$

1.1900

 

1/27/2009

 

375

 

$

1.1800

 

1/27/2009

 

1,100

 

$

1.1700

 

1/27/2009

 

625

 

$

1.1600

 

1/27/2009

 

25

 

$

1.1500

 

1/29/2009

 

486

 

$

1.2000

 

1/29/2009

 

347

 

$

1.1900

 

1/29/2009

 

25

 

$

1.1850

 

1/29/2009

 

441

 

$

1.1800

 

1/30/2009

 

1,749

 

$

1.2000

 

1/30/2009

 

25

 

$

1.1950

 

1/30/2009

 

904

 

$

1.1900

 

1/30/2009

 

25

 

$

1.1850

 

1/30/2009

 

2,502

 

$

1.1800

 

1/30/2009

 

800

 

$

1.1700

 

1/30/2009

 

200

 

$

1.1500

 

2/2/2009

 

200

 

$

1.2000

 

 

4


 

CUSIP No.   293639100

 

Date of
Purchase

 

Number of
Shares
Purchased

 

Purchase
Price Per
Share

 

2/2/2009

 

25

 

$

1.1900

 

2/2/2009

 

100

 

$

1.1800

 

2/2/2009

 

350

 

$

1.1700

 

2/17/2009

 

14,214

 

$

1.2000

 

2/17/2009

 

5,500

 

$

1.1900

 

2/17/2009

 

214

 

$

1.1800

 

2/18/2009

 

10,143

 

$

1.2000

 

2/18/2009

 

2,714

 

$

1.1950

 

2/18/2009

 

6,628

 

$

1.1900

 

2/18/2009

 

444

 

$

1.1800

 

2/19/2009

 

999

 

$

1.2000

 

2/19/2009

 

143

 

$

1.1925

 

2/19/2009

 

2,571

 

$

1.1900

 

2/19/2009

 

1,286

 

$

1.1800

 

2/19/2009

 

71

 

$

1.1725

 

2/19/2009

 

9,573

 

$

1.1700

 

2/19/2009

 

2,357

 

$

1.1600

 

2/20/2009

 

2,143

 

$

1.1400

 

2/20/2009

 

1,000

 

$

1.1300

 

2/20/2009

 

571

 

$

1.1200

 

2/20/2009

 

1,270

 

$

1.1100

 

2/20/2009

 

10,571

 

$

1.1000

 

2/20/2009

 

2,373

 

$

1.0900

 

2/20/2009

 

143

 

$

1.0825

 

2/20/2009

 

1,857

 

$

1.0800

 

2/23/2009

 

1,143

 

$

1.2000

 

2/23/2009

 

4,500

 

$

1.1900

 

2/23/2009

 

2,000

 

$

1.1800

 

2/23/2009

 

357

 

$

1.1700

 

2/23/2009

 

786

 

$

1.1600

 

2/23/2009

 

1,643

 

$

1.1550

 

2/23/2009

 

643

 

$

1.1500

 

2/23/2009

 

71

 

$

1.1450

 

2/23/2009

 

286

 

$

1.1400

 

2/23/2009

 

571

 

$

1.1300

 

2/23/2009

 

1,143

 

$

1.1250

 

2/23/2009

 

5,786

 

$

1.1200

 

2/23/2009

 

357

 

$

1.1100

 

2/24/2009

 

4,571

 

$

1.1600

 

2/24/2009

 

286

 

$

1.1575

 

 

5


 

CUSIP No.   293639100

 

Date of
Purchase

 

Number of
Shares
Purchased

 

Purchase
Price Per
Share

 

2/24/2009

 

3,714

 

$

1.1500

 

2/24/2009

 

2,143

 

$

1.1400

 

2/24/2009

 

2,500

 

$

1.1300

 

2/24/2009

 

5,714

 

$

1.1200

 

2/24/2009

 

214

 

$

1.1000

 

2/24/2009

 

143

 

$

1.0900

 

2/25/2009

 

9,714

 

$

1.2000

 

2/25/2009

 

4,929

 

$

1.1900

 

2/25/2009

 

71

 

$

1.1800

 

2/26/2009

 

1,643

 

$

1.2000

 

2/26/2009

 

429

 

$

1.1900

 

2/26/2009

 

1,786

 

$

1.1850

 

2/26/2009

 

2,643

 

$

1.1800

 

2/26/2009

 

286

 

$

1.1750

 

2/26/2009

 

357

 

$

1.1700

 

2/26/2009

 

1,214

 

$

1.1650

 

2/26/2009

 

71

 

$

1.1600

 

2/26/2009

 

4,786

 

$

1.1500

 

2/26/2009

 

6,071

 

$

1.1400

 

2/27/2009

 

3,124

 

$

1.1000

 

2/27/2009

 

714

 

$

1.0900

 

2/27/2009

 

713

 

$

1.0800

 

2/27/2009

 

2,073

 

$

1.0700

 

2/27/2009

 

4,786

 

$

1.0600

 

2/27/2009

 

7,233

 

$

1.0500

 

2/27/2009

 

643

 

$

1.0400

 

3/2/2009

 

1,069

 

$

1.0200

 

3/2/2009

 

7,503

 

$

1.0100

 

3/2/2009

 

3,357

 

$

1.0000

 

3/2/2009

 

3,714

 

$

0.9900

 

3/2/2009

 

786

 

$

0.9800

 

3/2/2009

 

2,357

 

$

0.9700

 

3/2/2009

 

1,429

 

$

0.9600

 

3/2/2009

 

71

 

$

0.9500

 

3/3/2009

 

6,574

 

$

1.0800

 

3/3/2009

 

2,061

 

$

1.0700

 

3/3/2009

 

980

 

$

1.0400

 

3/3/2009

 

98

 

$

1.0375

 

3/3/2009

 

9,027

 

$

1.0300

 

3/3/2009

 

2,258

 

$

1.0200

 

 

6


 

CUSIP No.   293639100

 

Date of
Purchase

 

Number of
Shares
Purchased

 

Purchase
Price Per
Share

 

3/3/2009

 

294

 

$

1.0100

 

3/3/2009

 

1,472

 

$

1.0000

 

3/3/2009

 

491

 

$

0.9800

 

3/3/2009

 

1,276

 

$

0.9700

 

3/3/2009

 

1,766

 

$

0.9600

 

3/3/2009

 

392

 

$

0.9500

 

3/3/2009

 

1,177

 

$

0.9400

 

3/4/2009

 

2,500

 

$

1.1100

 

3/4/2009

 

500

 

$

1.1000

 

3/4/2009

 

500

 

$

1.0900

 

3/4/2009

 

1,800

 

$

1.0800

 

3/4/2009

 

1,000

 

$

1.0700

 

3/4/2009

 

2,900

 

$

1.0600

 

3/4/2009

 

100

 

$

1.0500

 

3/4/2009

 

1,600

 

$

1.0400

 

3/4/2009

 

1,700

 

$

1.0300

 

3/4/2009

 

100

 

$

1.0200

 

3/4/2009

 

3,900

 

$

1.0100

 

3/4/2009

 

8,700

 

$

1.0000

 

3/4/2009

 

2,600

 

$

0.9900

 

3/4/2009

 

500

 

$

0.9800

 

3/5/2009

 

1,100

 

$

1.0100

 

3/5/2009

 

4,200

 

$

1.0000

 

3/5/2009

 

1,500

 

$

0.9900

 

3/5/2009

 

7,900

 

$

0.9800

 

3/5/2009

 

3,000

 

$

0.9700

 

3/5/2009

 

5,900

 

$

0.9600

 

3/5/2009

 

4,800

 

$

0.9500

 

3/6/2009

 

6,300

 

$

0.9300

 

3/6/2009

 

14,900

 

$

0.9200

 

3/6/2009

 

3,700

 

$

0.9100

 

3/6/2009

 

700

 

$

0.9000

 

3/6/2009

 

100

 

$

0.8900

 

3/6/2009

 

2,300

 

$

0.8800

 

3/6/2009

 

400

 

$

0.8600

 

3/9/2009

 

400

 

$

1.0100

 

3/9/2009

 

5,800

 

$

1.0000

 

3/9/2009

 

6,000

 

$

0.9900

 

3/9/2009

 

8,500

 

$

0.9800

 

3/9/2009

 

2,100

 

$

0.9700

 

 

7


 

CUSIP No.   293639100

 

Date of
Purchase

 

Number of
Shares
Purchased

 

Purchase
Price Per
Share

 

3/9/2009

 

5,300

 

$

0.9600

 

3/9/2009

 

100

 

$

0.9500

 

3/9/2009

 

100

 

$

0.9400

 

3/9/2009

 

100

 

$

0.9300

 

3/10/2009

 

2,500

 

$

1.0300

 

3/10/2009

 

1,900

 

$

1.0200

 

3/10/2009

 

3,100

 

$

1.0175

 

3/10/2009

 

5,400

 

$

1.0100

 

3/10/2009

 

2,400

 

$

1.0000

 

3/10/2009

 

200

 

$

0.9900

 

3/10/2009

 

12,400

 

$

0.9800

 

3/10/2009

 

100

 

$

0.9700

 

3/10/2009

 

400

 

$

0.9600

 

3/11/2009

 

700

 

$

1.0600

 

3/11/2009

 

1,600

 

$

1.0575

 

3/11/2009

 

800

 

$

1.0500

 

3/11/2009

 

600

 

$

1.0300

 

3/11/2009

 

1,100

 

$

1.0200

 

3/11/2009

 

4,200

 

$

1.0100

 

3/11/2009

 

12,600

 

$

1.0000

 

3/11/2009

 

6,000

 

$

0.9900

 

3/11/2009

 

800

 

$

0.9800

 

3/12/2009

 

400

 

$

1.0500

 

3/12/2009

 

4,100

 

$

1.0400

 

3/12/2009

 

400

 

$

1.0300

 

3/12/2009

 

293

 

$

1.0200

 

3/12/2009

 

3,000

 

$

1.0100

 

3/12/2009

 

16,107

 

$

1.0000

 

3/12/2009

 

1,800

 

$

0.9999

 

3/12/2009

 

100

 

$

0.9900

 

3/12/2009

 

400

 

$

0.9700

 

3/12/2009

 

200

 

$

0.9696

 

3/12/2009

 

1,524

 

$

0.9600

 

3/12/2009

 

76

 

$

0.9400

 

3/13/2009

 

800

 

$

1.0375

 

3/13/2009

 

12,900

 

$

1.0300

 

3/13/2009

 

6,200

 

$

1.0200

 

3/13/2009

 

400

 

$

1.0175

 

3/13/2009

 

3,500

 

$

1.0100

 

3/13/2009

 

700

 

$

1.0075

 

 

8


 

CUSIP No.   293639100

 

Date of
Purchase

 

Number of
Shares
Purchased

 

Purchase
Price Per
Share

 

3/13/2009

 

200

 

$

1.0065

 

3/13/2009

 

3,200

 

$

1.0000

 

3/13/2009

 

400

 

$

0.9999

 

3/13/2009

 

100

 

$

0.9900

 

3/16/2009

 

13,129

 

$

1.0400

 

3/16/2009

 

5,300

 

$

1.0375

 

3/16/2009

 

3,771

 

$

1.0300

 

3/16/2009

 

500

 

$

1.0275

 

3/16/2009

 

1,898

 

$

1.0100

 

3/16/2009

 

6,902

 

$

1.0000

 

3/16/2009

 

3,100

 

$

0.9900

 

3/17/2009

 

2,200

 

$

1.0700

 

3/17/2009

 

2,400

 

$

1.0600

 

3/17/2009

 

500

 

$

1.0575

 

3/17/2009

 

19,300

 

$

1.0500

 

3/17/2009

 

3,100

 

$

1.0400

 

3/17/2009

 

2,800

 

$

1.0300

 

3/17/2009

 

2,200

 

$

1.0200

 

3/17/2009

 

100

 

$

1.0100

 

3/17/2009

 

1,900

 

$

1.0000

 

3/17/2009

 

100

 

$

0.9891

 

3/18/2009

 

1,000

 

$

1.0775

 

3/18/2009

 

5,900

 

$

1.0700

 

3/18/2009

 

1,100

 

$

1.0600

 

3/18/2009

 

1,000

 

$

1.0500

 

3/18/2009

 

6,400

 

$

1.0400

 

3/18/2009

 

12,700

 

$

1.0375

 

3/18/2009

 

6,500

 

$

1.0300

 

3/19/2009

 

2,600

 

$

1.0800

 

3/19/2009

 

4,500

 

$

1.0700

 

3/19/2009

 

3,500

 

$

1.0600

 

3/19/2009

 

6,087

 

$

1.0500

 

3/19/2009

 

300

 

$

1.0475

 

3/19/2009

 

9,600

 

$

1.0400

 

3/19/2009

 

6,513

 

$

1.0300

 

3/19/2009

 

1,500

 

$

1.0200

 

3/20/2009

 

3,200

 

$

1.0500

 

3/20/2009

 

600

 

$

1.0400

 

3/20/2009

 

9,572

 

$

1.0300

 

3/20/2009

 

12,006

 

$

1.0200

 

 

9


 

CUSIP No.   293639100

 

Date of
Purchase

 

Number of
Shares
Purchased

 

Purchase
Price Per
Share

 

3/20/2009

 

3,100

 

$

1.0175

 

3/20/2009

 

3,522

 

$

1.0100

 

3/20/2009

 

1,600

 

$

1.0000

 

3/20/2009

 

1,000

 

$

0.9900

 

3/23/2009

 

100

 

$

1.0600

 

3/23/2009

 

1,100

 

$

1.0575

 

3/23/2009

 

2,650

 

$

1.0500

 

3/23/2009

 

16,000

 

$

1.0475

 

3/23/2009

 

11,200

 

$

1.0375

 

3/23/2009

 

7,250

 

$

1.0300

 

3/24/2009

 

27,387

 

$

1.2000

 

3/24/2009

 

4,300

 

$

1.1900

 

3/24/2009

 

813

 

$

1.1800

 

3/24/2009

 

42

 

$

1.1400

 

3/24/2009

 

267

 

$

1.1300

 

3/24/2009

 

900

 

$

1.1200

 

3/24/2009

 

373

 

$

1.1100

 

3/24/2009

 

2,300

 

$

1.1000

 

3/24/2009

 

318

 

$

1.0900

 

3/24/2009

 

200

 

$

1.0800

 

3/25/2009

 

4,300

 

$

1.2000

 

3/25/2009

 

7,400

 

$

1.1900

 

3/25/2009

 

11,400

 

$

1.1800

 

3/25/2009

 

15,200

 

$

1.1700

 

3/25/2009

 

1,500

 

$

1.1600

 

 

10


 

CUSIP No.   293639100

 

Signature

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

 

March 26, 2009

 

Date

 


/s/ Joseph M. Field

 

Signature

 


Joseph M. Field

 

Name/Title

 

11