Townsquare To Acquire North American Midway Entertainment

Townsquare Media, Inc. announced today that it has entered into a definitive purchase agreement to acquire North American Midway Entertainment LLC, largest provider of rides, games and food concessions in North America, for approximately $75.5 million, subject to certain working capital and other adjustments.

In connection with the acquisition, North American's management team will join Townsquare and will continue to lead the business as a part of Townsquare’s Live Events division.

“We are excited to partner with North American's management team and add its market leading mobile amusement parks to our Live Events portfolio,” commented Townsquare Chairman and Chief Executive Officer Steven Price.

“Nearly half of North American's current events are within 100 miles of a Townsquare market and fit squarely within our core stated strategy of providing affordable, family-friendly entertainment content.”

Formed in 2004, North American entertains more than 15 million people on an annual basis as the owner and operator of amusement attractions including over 200 state-of-the-art rides, custom-designed food concessions and family-oriented games at approximately 150 fairs per year across the United States and Canada.