Townsquare Media Adds New Jersey Media Leader,
Including Most Listened to FM Only Talk Station in the United States, WKXW 101.5
Greenwich, CT – August 19, 2011 – Townsquare Media, LLC announced today that it has completed its acquisition of Millennium Radio Holdings, LLC, adding 11 radio stations, a statewide news network and related websites in 3 New Jersey markets. With the Millennium operations, Townsquare Media now owns 176 radio stations and related websites in 38 markets, making it the fourth largest owner of radio stations in the United States. Upon closing of the pending Double O transaction, Townsquare Media will own 202 radio stations and related websites in 43 markets.
“The acquisition of Millennium is consistent with our strategy of owning market leading media properties in small and mid-sized markets,” commented Townsquare Media Chairman and CEO Steven Price. “We are excited to continue to add premier assets to our portfolio including, New Jersey’s leading talk radio station, WKXW 101.5. The strength and depth of the Millennium team is an excellent addition to Townsquare Media and we are excited to add new advertisers and to broaden our audience reach.”
Zoe Burdine-Fly, who joined Millennium on July 20, 2011 from her previous role as Market Manager of Townsquare Media’s Flint station cluster, will continue to oversee the Millennium operations and will report to Erik Hellum, Executive Vice President, Radio for Townsquare Media. Funds controlled by Oaktree Capital Management will continue to be the majority equity holder of Townsquare Media.
About Townsquare Media
Townsquare Media, LLC is a local media and entertainment company that owns and operates radio, digital and live event properties. The Company specializes in creating and distributing original entertainment, music and lifestyle content. Its assets include 176 radio stations and companion websites in 38 small to mid-sized markets, over 200 live music and non-music events and certain national digital properties including Taste of Country, Ultimate Classic Rock and PopCrush, as well as eCouponing business Seize the Deal. Additionally, Townsquare Media also operates Townsquare Cares, a non-profit organization that seeks to better the lives of troops and their families. Funds managed by Oaktree Capital Management are the Company’s largest equity holder.” www.townsquaremediagroup.com