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Townsquare Announces Acquisition Of 6 Radio Stations

rfocus.org

 

Townsquare Media, Inc. today announced that it has entered into an agreement to acquire 6 and two FM translators in and around the Pittsfield, MA market, from Gamma Broadcasting LLC and Berkshire Broadcasting Co., Inc. (the “Acquisition”).

“We are very excited to announce this transaction which will strengthen our footprint in the Northeast,” commented Townsquare Chairman and 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 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 (WBEC-FM 95.9, WBEC(AM) 1420, WUPE(AM) 1110 and a FM translator broadcasting at 94.1) from Gamma Broadcasting LLC. Townsquare is also acquiring the capital stock of Berkshire Broadcasting Co., Inc., including 3 radio stations and 1 FM translator (WUPE-FM 100.1, WNAW(AM) 1230, WSBS(AM) 860 and a FM translator broadcasting at 103.3). Pro forma for the Acquisition, 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 of 2017, subject to closing conditions and customary regulatory approvals.

Kalil & Co., Inc represented the Seller in connection with the Acquisition.

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