For some, including The Wall Street Journal, the biggest news from Entercom Communications early Wednesday was the media company’s acquisition of Brooklyn, N.Y.-based podcast producer Pineapple Street and the outstanding shares of Cadence13, a podcast creator and distributor it has had a 45% stake in since August 2017, when it was known as DGital Media.
For Wall Street, however, the bigger news may be how disappointing Entercom’s Q2 results are.
At the closing bell, ETM finished down 36% to $3.36 on massive volume of 15.5 million shares.
