Struggling Townsquare Media Gets Boost from Madison Square Garden

TownSquare Radio
New Owners Grab 12%

Local Atlantic City radio and event company; Townsquare Media, has a new partial owner. Madison Square Garden (MSG) has purchased 12% of Townsquare Media, which operates radio stations and live events in the U.S. and Canada.

Townsquare Media operates 5 Atlantic City radio stations: WPG 1450, Lite-Rock 96.9, SOJO 104.9, Cat Country 107.3 and ESPN 97.3

Townsquare Media stock dropped on the news, and has declined 20% since January 12, 2016. It’s still down-trending. Townsquare Media has underperformed the S&P 500 by 33%.

While Townsquare Media’s digital and event efforts have shown signs of growth, the struggling radio side is the likely drag on financial results.

The company’s local advertising offerings include Radio broadcast, digital and mobile advertising within 300+ local markets like Atlantic City and Trenton.

FULL STORY on TOWNSQUARE MEDIA

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