1067837--2/22/2008--ENTERCOM_COMMUNICATIONS

related topics

{capital, credit, financial}

{stock, price, operating}

{debt, indebtedness, cash}

{regulation, government, change}

{acquisition, growth, future}

{product, market, service}

{operation, natural, condition}

{control, financial, internal}

{tax, income, asset}

{personnel, key, retain}

{provision, law, control}

We Face Many Unpredictable Business Risks, Both General And Specific To The Radio Broadcasting Industry, Which Could Have A Material Adverse Effect On Our Future Operations. Our Radio Stations May Not Be Able To Compete Effectively In Their Respective Markets For Advertising Revenues. We Must Respond To The Increased Competition For Audio Distribution And The Rapid Changes In Technology, Services And Standards That Characterize Our Industry In Order To Remain Competitive. We Are Dependent On Federally Issued Licenses To Operate Our Radio Stations And Are Subject To Extensive Federal Regulation. We Have Substantial Indebtedness Which Could Have Important Consequences To You. The Covenants In Our Bank Facility And Our Senior Subordinated Notes Restrict Our Financial And Operational Flexibility. The FCC Has Engaged In Vigorous Enforcement Of Its Indecency Rules Against The Broadcast Industry, Which Could Have A Material Adverse Effect On Our Business. We May Not Be Successful In Identifying And Consummating Future Acquisitions. We May Be Unable To Effectively Integrate Our Acquisitions. Because Of Our Holding Company Structure, We Depend On Our Subsidiaries For Cash Flow, And Our Access To This Cash Flow Is Restricted. Our Chairman Of The Board And Our President And Chief Executive Officer Effectively Control Our Company, And Members Of Their Immediate Family Also Own A Substantial Equity Interest In Us. Their Interests May Conflict With Your Interest. Future Sales By Joseph M. Field Or Members Of His Family Could Adversely Affect The Price Of Our Class A Common Stock. The Difficulties Associated With Any Attempt To Gain Control Of Our Company Could Adversely Affect The Price Of Our Class A Common Stock. We Depend On Selected Market Clusters Of Radio Stations. The Ownership Rules Effectively Decrease The Number Of Available Buyers For Any Radio Stations We Sell, Which May Have A Negative Impact On The Sales Price Of Radio Stations. Our Stock Price Could Be Volatile And Could Drop Unexpectedly. The Loss Of Key Personnel Could Have A Material Adverse Effect On Our Business. A Future Asset Impairment Of Our FCC Licenses And/Or Goodwill Could Cause Losses. The Impact Of A Natural Disaster And Its Aftermath Could Have A Material Adverse Effect On Our Markets. Our Failure To Comply Under The Sarbanes-Oxley Act of 2002 Could Cause A Loss Of Confidence In The Reliability Of Our Financial Statements.

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1067837--2/22/2008--ENTERCOM_COMMUNICATIONS_CORP