|Key people||Steven Price (Chairman/CEO)
Stuart Rosenstein (executive vice president/CFO)
|Owner(s)||Oaktree Capital Management|
Townsquare Media (formerly Regent Communications Inc. until 2010) is an American radio broadcasting corporation, based in Greenwich, Connecticut. As of August 13, 2010[update], 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.
Regent Communications (former Pink Sheets ticker symbol RGCI) was founded in 1996 by Terry Jacobs and Bill Stakelin. 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.
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. After the company privatization, the company was given its new name, Townsquare Media.
Oaktree Capital Management owned the radio group Gap Broadcasting. On August 13, 2010, Townsquare, which had about 62 radio stations in 13 radio markets in 2008, acquired Gap and its 111 stations in 23 markets. The combination gave Townsquare ownership of 171 radio stations in 36 markets.
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.
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 headphone maker Beats Electronics.
On August 29, 2013, it was announced by The Wall Street Journal that Cumulus will be purchasing 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.
Townsquare Media Stations
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
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
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
94.1 KRNA Mainstream Rock 94.1 KRNA
98.1 KHAK Country 98.1 KHAK
107.1 KRQN CHR/Top 40 I107.1
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 Classic Hits Q107.5
930 WBCK Sports/Talk 930 The Score
95.3 WBCK News/Talk 95.3 WBCK
104.9 WBXX Adult Contemporary Mix 104.9
1360 WKMI Conservative Talk WKMI Talk Radio 1360
102.5 W273AR Country Great Country 102.5
103.3 WKFR CHR/Top 40 103.3 WKFR
107.7 WRKR Classic Rock 107.7 WRKR
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 CHR/Top 40 97.5 Now FM
99.1 WFMK Adult Contemporary 99.1 WFMK
100.7 WITL Country 100.7 WITL
|This section is outdated. (May 2010)|
- William P. Sutter, Jr. (Chairman of the Board) — adjunct professor of finance at Northwestern University's Kellogg Graduate School of Management, and principal with Hopewell Ventures
- William L. Stakelin — president and chief executive officer of Regent
- John H. Wyant — president of Blue Chip Venture Company
- Timothy M. Mooney (Chairman of the Audit Committee) — vice president of operations at St. Xavier High School (Cincinnati)
- Andrew L. Lewis IV — board member and advisor, Brynwood Partners
- John Ahn — principal, Riley Investment Management
- John DeLorenzon — CFO, Entravision Communications
Currently, the Townsquare Media management team includes:
- Steven Price, Chairman and Chief Executive Officer
- Stuart Rosenstein, Executive Vice President and Chief Financial Officer
- Bill Wilson, Executive Vice President and Chief Digital Officer
- Alex Berkett, Executive Vice President, Business Development and Mergers and Acquisitions
- Erik Hellum, Executive Vice President, Radio
- Dhruv Prasad, Executive Vice President, Live Events
- "Townsquare Media Acquires GAP Radio Broadcasting" (Press release). Greenwich, Connecticut: Townsquare Media. 2010-08-13. Retrieved 2010-08-15.
- "Business Announcements for the week of 5/9-5/15/2010". El Paso Inc. (El Paso, Texas). Retrieved 2010-05-14.
- "Regent Communications Announces Agreement With Radiolicious" (Press release). Cincinnati, Ohio: Regent Communications, Inc. PRNewswire. 2008-11-12.
- Nadgir, Santosh (2010-03-01). "Radio broadcaster Regent Communications files Ch. 11 (Update 3)". Bangalore. Reuters. Retrieved 2010-03-02.
- "Regent Communications, just out of Chapter 11, becomes "Townsquare Media", changes CEO & CFO". Radio-Info.com. 2010-05-03.
- "Townsquare Media Bolsters Management Team and Re-Launches Over 30 Digital Properties" (Press release). Greenwich, Connecticut: Townsquare Media, LLC. 2010-12-13.
- "Townsquare Media Buying Ten Oneonta-Area Stations | CNYRadio.com / CNYTVNews.com". Cnyradio.com. 2011-08-08. Retrieved 2012-11-18.
- [dead link]
- "The Music Radio Trade Publication". RadioInfo. Retrieved 2012-11-19.
- "Remaining half of Mog Music Network sells to Townsquare Media Group". MusicWeek. Retrieved 24 August 2012.
- Cumulus Makes Dial Global And Townsquare Deals Official - Radio Insight (released August 30, 2013)
- Townsquare Media — official site
- Taste of Country — country music news site owned by Townsquare
- Ultimate Classic Rock — classic rock news site owned by Townsquare