Back in March, Entercom CEO David Field said United States Traffic Network was unable to pay its $4 million bill due to Entercom in Q4 2017. Field went public with the network’s financial problems. He said USTN was having “significant financial issues.” On Thursday, it was announced that Entercom signed a new deal with the traffic network that includes an equity position.
USTN would not reveal to Radio Ink how big that position is.
A few days after Field took the non-payment public it was announced that United States Traffic Network President Ivan Schulman led an effort to buy out the broadcast-traffic provider from Australian-based Global Traffic Network. The terms of the deal were not disclosed.
A press release said Entercom was the first of many media groups with which USTN intends to partner.
