Tuesday, August 9, 2011
Townsquare Media To Acquire Double-O Radio
“This transaction represents a continuation of Townsquare Media’s strategy of pursing market leading media properties in small and mid-sized markets,” commented Townsquare Media Chairman and CEO Steven Price. “We are excited to continue to expand our business by adding new advertisers, a broader audience, premier brands and strong in-market teams.”
In connection with the transaction, the Pilot Group, Double O’s equity holders, will become a minority equity holder in Townsquare Media.
The transaction is expected to close in the fourth quarter of 2011, pending FCC approval.
Posted by Tom Benson at 12:59 AM