Townsquare Media

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Townsquare Media, LLC
Type Public
Traded as NYSE: TSQ
Industry Mass media
Founded 1996
Headquarters Greenwich, Connecticut[1]
Key people Steven Price (Chairman/CEO)
Stuart Rosenstein (executive vice president/CFO)[2]
Services Digital media, radio
Owner(s) Oaktree Capital Management[1]
Website http://www.townsquaremedia.com/
http://www.townsquaremediagroup.com

Townsquare Media (formerly Regent Communications Inc. until 2010) is an American media company based in Greenwich, Connecticut.

The company began primarily in radio: As of August 13, 2010, after it acquired sister companies Gap Broadcasting and GapWest Broadcasting, it owned 171 radio stations in 36 radio markets, with concentration in the Northeast, Midwest, Southwest, and Mountain states.[1] It later expanded into digital publishing and marketing, with the acquisition of the MOG Music Network, and a group of former AOL Music blogs.

History[edit]

Regent Communications logo before rebranding.

Regent Communications (former Pink Sheets ticker symbol RGCI) was founded in 1996 by Terry Jacobs and Bill Stakelin.[citation needed] Jacobs later since retired from the company and Stakelin became its CEO.

On October 27, 2008 Regent Broadcasting joined Radiolicious and began streaming on the iPhone and iPod Touch. Regent is the first major radio group to contract for all of its streaming stations to be available through the Radiolicious application.[3]

Regent filed Chapter 11 bankruptcy on March 1, 2010, with $211.3 million in debt, $166.5 million in assets, and a pre-arranged plan for exiting bankruptcy, with the United States Bankruptcy Court for the District of Delaware. The filing plan made Oaktree Capital Management the majority owner of Regent after the bankruptcy and gave the old shareholders 12.8 cents per share.[4] After its privatization, the company was given its new name, Townsquare Media.[5] Gap Broadcasting Group, another radio group owned by Oaktree, was merged into Townsquare, giving it ownership of 171 radio stations in 36 markets.[1][3]

In December 2010, the company began to expand its digital media operations, overhauling its stations' websites and launching a new country music news website known as Taste of Country.[6]

Townsquare acquired a number of stations Double O Radio in August 2011.[7]

On April 30, 2012 Townsquare Media announced a deal to acquire 55 stations in 11 markets from Cumulus Media, in exchange for Townsquare's stations in the markets of Bloomington and Peoria, IL and $126 million in cash.[8][9]

On August 24, 2012, Townsquare reached a deal to acquire the MOG Music Network, an advertising network for music blogs, from MOG, a streaming music service that had reached a deal to be acquired by Beats Electronics.[10]

In June 2013, Townsquare announced it would acquire a number of websites from AOL, including the music blogs The Boombox, The Boot, and Noisecreep, along with the comic book news site Comics Alliance. The deal came following the abrupt shutdown of the AOL Music division in April 2013.[11]

On August 29, 2013, it was announced that Cumulus would purchase Dial Global, after the network service was showing signs of financial distress in late 2012. Cumulus will be paying $260 Million in cash for this programming syndication service, part of which will be used to pay off Dial’s debt before it is folded into Cumulus Media Networks. To make that sale happen, Cumulus will once again make a pair of station deals with Townsquare Media: the first deal will send 53 stations in Danbury, CT, Rockford, IL, Cedar Rapids, IA, Quad Cities IA/IL, Waterloo, IA, Portland, ME, Battle Creek, MI, Kalamazoo, MI, Lansing, MI, Faribault, MN, Rochester, MN, and Portsmouth, NH to Townsquare for $238 Million. The second will send 15 more stations in Dubuque, IA and Poughkeepsie, NY stations in exchange for Peak Broadcasting’s Fresno cluster. While not mentioned by the Journal, Peak, which like Dial Global and Townsquare has a large investment held by Oaktree Capital Management will have its Boise cluster folded into Townsquare as well. Townsquare, however, will have to place three of its newly acquired stations in a divestiture trust due to market overlaps.[12] The acquisition of the Cumulus stations closed on November 14, 2013.

On June 24, 2014, Townsquare Media filed for an IPO on the New York Stock Exchange, valued at $143.8 million.[13][14] On July 24th, 2014, Townsquare Media became a public company with an initial offering price of $11.00 a share.[15]

List of stations[edit]

Alabama, Tuscaloosa

790 WTSK Gospel The Truth 790 WTSK

92.9 WTUG Urban Adult Contemporary WTUG 92.9 Today's R&B

95.3 WFFN Country 95.3 The Bear

99.1 WDGM Sports 99.1 The Tide

101.7 WBEI Hot Adult Contemporary B101.7

Arkansas, Texarkana

790 KOSY Gospel Rejoice 790 KOSY

93.3 KMJI Adult Contemporary Mix 93.3

95.9 KPWW Mainstream Top 40 Power 95.9

102.5 KKYR Country Kicker 102.5

106.3 KYGL Classic Rock Eagle 106.3

Connecticut, Danbury

940 WINE Sports

1510 WPUT Sports

95.1 WRKI Mainstream Rock

105.5 WDBY Country

Idaho, Boise

580 KIDO News/Talk News/Talk 580 KIDO

630 KFXD Sports/Talk 630 The Fan

103.5 KSAS CHR/Top 40 103.5 Kiss FM

104.3 KAWO Country 104.3 Wow Country

106.3 KCIX Hot Adult Contemporary Mix 106

107.9 KXLT Adult Contemporary 107.9 Lite FM

Illinois, Rockford

1440 WROK News/Talk

96.7 WKGL-FM Classic Rock 96.7 The Eagle

97.5 WZOK CHR 97 ZOK

98.5 WXXQ Country Q98.5

Illinois/Iowa, Quad Cities

1170 KBOB Sports ESPN 1170

93.5 KJOC Sports ESPN 93.5

96.9 WXLP Classic Hits 97X

99.7 KBEA-FM Mainstream CHR B100

104.9 KQCS Country 104.9 The Hawk

Iowa, Cedar Rapids

94.1 KRNA Mainstream Rock 94.1 KRNA

98.1 KHAK Country 98.1 KHAK

104.5 KDAT Adult Contemporary 104-5 KDAT

107.1 KRQN CHR/Top 40 i107-1

Iowa, Dubuque

1490 WDBQ News/Talk 1490 WDBQ News/Talk

102.3 KXGE Mainstream Rock Eagle 102

103.3 WJOD Country Today's Country 103 WJOD

105.3 KLYV CHR/Top 40 Y105

107.5 WDBQ-FM Classic Hits Q107.5

Iowa, Waterloo

950 KOEL News/Talk

92.3 KKHQ Mainstream CHR Q92.3

97.7 KCRR Classic Rock

98.5 KOEL-FM Country K98.5

Maine, Portland

94.3 WCYY Modern Rock

94.9 WHOM Adult Contemporary

97.9 WJBQ CHR/Top 40

102.9 WBLM Classic Rock

Michigan, Battle Creek

930 WTOU Sports/Talk 930 The Score

95.3 WBCK News/Talk 95.3 WBCK

104.9 WBXX Adult Contemporary Mix 104.9

Michigan, Kalamazoo

1360 WKMI Conservative Talk WKMI Talk Radio 1360

102.5 W273AR Country Great Country 102.5

103.3 WKFR-FM CHR/Top 40 103.3 WKFR

107.7 WRKR Classic Rock 107.7 WRKR

Michigan, Lansing

730 WVFN Sports/Talk 730 The Game

1240 WJIM News/Talk 1240 WJIM

94.9 WMMQ Classic Rock Classic Rock 94.9 WMMQ

97.5 WJIM-FM CHR/Top 40 97.5 Now FM

99.1 WFMK Adult Contemporary 99.1 WFMK

100.7 WITL-FM Country 100.7 WITL

Minnesota, Faribault

920 KDHL Classic Country

1390 KRFO Oldies

95.9 KQCL Classic Rock

104.9 KRFO-FM Country

Minnesota, Rochester

1060 KFIL Country

1340 KROC News/Talk

1520 KOLM Sports

96.5 KWWK Country

103.1 KFIL-FM Country

103.9 KDCZ Active Rock

104.3 KVGO

105.3 KYBA Adult Contemporary

106.9 KROC-FM Top 40/CHR

107.7 KDZZ Active Rock

New Hampshire, Portsmouth

97.5 WOKQ Country

102.1 WSAK Classic Hits

103.7 WPKQ Country

105.3 WSHK Classic Hits

(Toms River, New Jersey/New Jersey, Toms River))

104.9 WSJOTownsquare Media — official site South Jersey's Own

107.3 Townsquare Media — official site Country

1450 AM Townsquare Media — official site Talk Radio

96.9 Townsquare Media — official site Lite Rock

97.3 Townsquare Media — official site Sports

92.7 Townsquare Media — official site Ocean County's Hometown Station

1160 AM Townsquare Media — official site Talk Radio

1310 AM Townsquare Media — official site Talk Radio

94.3 Townsquare Media — official site Hit Music

105.7 Townsquare Media — official site Classic Rock

101.5 Townsquare Media — official site Talk/Music

New York, Poughkeepsie

1340 WALL Oldies

1390 WEOK Oldies

1490 WKNY Adult Contemporary

92.7 WRRV Modern Rock

94.3 WKXP Country

96.9 WRRB Alternative Rock

97.3 WZAD Country

97.7 WCZX Hot Adult Contemporary

101.5 WPDH Album-Oriented Rock

106.1 WPDA Album-Oriented Rock

Texas, Amarillo

96.9 KXSS CHR/Top40 96.9 Kiss-FM

Texas, Wichita Falls

92.9 KNIN CHR/Top 40 92.9 NIN

102.3 KWFS Country 102.3 Blake-FM

1290 KWFS News/Talk/Sports News Talk 1290

106.3 KBZS Rock 106.3 The Buzz

References[edit]

  1. ^ a b c d "Townsquare Media Acquires GAP Radio Broadcasting" (Press release). Greenwich, Connecticut: Townsquare Media. 2010-08-13. Retrieved 2010-08-15. 
  2. ^ "Business Announcements for the week of 5/9-5/15/2010". El Paso Inc. (El Paso, Texas). Retrieved 2010-05-14. 
  3. ^ a b "Regent Communications Announces Agreement With Radiolicious" (Press release). Cincinnati, Ohio: Regent Communications, Inc. PRNewswire. 2008-11-12. 
  4. ^ Nadgir, Santosh (2010-03-01). "Radio broadcaster Regent Communications files Ch. 11 (Update 3)". Bangalore. Reuters. Retrieved 2010-03-02. 
  5. ^ "Regent Communications, just out of Chapter 11, becomes "Townsquare Media", changes CEO & CFO". Radio-Info.com. 2010-05-03. 
  6. ^ "Townsquare Media Bolsters Management Team and Re-Launches Over 30 Digital Properties" (Press release). Greenwich, Connecticut: Townsquare Media. 2010-12-13. [dead link]
  7. ^ "Townsquare Media Buying Ten Oneonta-Area Stations". CNYRadio.com. 2011-08-08. Retrieved 2012-11-18. 
  8. ^ [1][dead link]
  9. ^ "The Music Radio Trade Publication". RadioInfo. Retrieved 2012-11-19. 
  10. ^ "Remaining half of Mog Music Network sells to Townsquare Media Group". MusicWeek. Retrieved 24 August 2012. 
  11. ^ "Townsquare Acquires Various AOL Music Sites, Comics Alliance". Billboard.biz. Retrieved 12 February 2014. 
  12. ^ Cumulus Makes Dial Global And Townsquare Deals Official - Radio Insight (released August 30, 2013)
  13. ^ "Townsquare Media files for IPO of up to $144 million". Reuters. Retrieved 27 June 2014. 
  14. ^ "Oaktree-backed Townsquare Media, the third largest radio station operator, files for a $144 million IPO". NASDAQ.com. Retrieved 27 June 2014. 
  15. ^ http://www.townsquaremedia.com/equity-investors/faq

External links[edit]