I live in Cincinnati where the market leader is WLW. The commercial I seem to hear the most is one telling advertisers to advertise on the radio.
It would seem that if there were paying sponsers for one of the strongest stations in the midwest that can be heard from Chicago to Dallas, they would fill that slot with revenue. I don't believe ETMs portfolio can produce the ad revenue to justify anything near the current price.
that's what they run when they don;t having paying advertisers because the ad narket sucks and isn't getting any better anytime soon. anyone who says different hasn't spent 20+ years in the radio ad biz- I have.
So please do us a favor and apply your analytical ability to explaining how they achieved $100 Mil in ad revenues in the June qtr. All they have to do is maintain that level, and keep expenses down, and they are at a PE of about 6. What other stocks are that cheap?
I live in Buffalo. ETM has several stations here that are very popular. Lots of ads.