There’s no easy way to say it: Audacy Corp., the company formerly known as Entercom Communications and led by President/CEO David Field, had a difficult third quarter. “Advertising headwinds impacted company performance,” Field said in prepared remarks ahead of a conference call for analysts and investors on Tuesday morning.
How challenging was Q3 for Audacy? The audio content creator and distributor that owns former CBS Radio stations and owns the Cadence13 and Pineapple Street podcast firms was just shy on quarterly revenue, but missed the earnings per share estimate in a significant way. A big impairment charge played a role in the results.
