“We are very excited to announce this transaction which will strengthen our footprint in the Northeast,” commented Townsquare Chairman and Chief Executive Officer Steven Price.
“We look forward to partnering with the Pittsfield team to bring our resources, including our digital and live event products, to Berkshire County’s advertisers and audience, and further build upon their success in the market.”
In connection with the acquisition, Townsquare is acquiring assets including 3 radio stations and 1 FM translator from Ganna Broadcasting. The stations are: Top40 WBEC 95.9 FM, News/Talk WBEC 1420 AM, Classic Hits WUPE 1110 AM and translator W277CJ at 103.3 FM.
Townsquare is also acquiring the capital stock of Berkshire Broadcasting Co., Inc., including 3 radio stations and 1 FM translator. The stations are: Classic Hits WUPE 100.1 FM, A/C WNAW 1230 AM, A/C Talk WSBS 860 AM and translator W231AK at 94.1 FM.
Upon closing, Townsquare will own 318 radio stations in 67 markets, maintaining its position as the third largest owner of radio stations in the United States. The Company expects the Acquisition to close in the third quarter of 2017, subject to closing conditions and customary regulatory approvals.