What happened Shares of Entercom Communications (NYSE: ETM) were tumbling 16% in morning trading Wednesday after the radio broadcaster reported fourth-quarter revenue that was up 19% sequentially, but down 22% year over year. So what CEO David Field said "the pandemic continues to hobble a large number of our advertisers, particularly locally," but he was hopeful the combination of widely distributed vaccines, new stimulus spending, and pent-up consumer demand would drive a strong recovery. Image source: Getty Images. Now what Entercom stock is up 150% so far this year, even after the drubbing it's taking today, on a rally that largely began last October after it announced it had signed a six-year deal with Flutter Entertainment's (OTC: PDYPF) FanDuel as its official sportsbook partner. Entercom says it's "the largest advertising deal in the history of the radio industry." Flutter is the world's largest bookmaker. Sports betting has become a hot growth market since the ban on it was overturned in 2018. FanDuel has quickly become the largest sportsbook in the U.S. In the fourth quarter, Entercom acquired QL Gaming, a platform that provides sports-betting data and predictive analytics that the broadcaster believes complements its sports audio business. The fall in Entercom Communications stock today may be a case of buy the rumor, sell the news for the radio broadcaster. 10 stocks we like better than Entercom CommunicationsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Entercom Communications wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Rich Duprey has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source