January 18, 2017 6:41 PM ET

Media

Company Overview of Townsquare Media, Inc.

Company Overview

Townsquare Media, Inc. operates as a media, entertainment, and digital marketing solutions company in small and mid-sized markets. The company's Local Advertising segment offers broadcast, digital, and mobile advertising services through its radio stations, Websites, radio stations’ online streams, and mobile applications. Its Live Events segment creates, promotes, and produces live events, including music concerts, music festivals, consumer expositions and trade shows, athletic events, and lifestyle events, as well as mobile amusement parks at fairs, and other forms of entertainment. This segment also offer event production services to third parties; and owns a proprietary ticketing platfor...

240 Greenwich Avenue

Greenwich, CT 06830

United States

Founded in 1996

2,900 Employees

Phone:

203-861-0900

Key Executives for Townsquare Media, Inc.

Chairman, Chief Executive Officer and Chairman of Nominating & Corporate Governance Committee
Age: 55
Total Annual Compensation: $1.1M
Chief Financial Officer and Executive Vice President
Age: 55
Total Annual Compensation: $1.1M
Chief Content & Digital Officer and Executive Vice President
Age: 48
Total Annual Compensation: $1.2M
Compensation as of Fiscal Year 2015.

Townsquare Media, Inc. Key Developments

Townsquare Media Appoints Andy Meyer as Vice President, Original Programming and Head of Video

Townsquare Media, Inc. announced that veteran TV and digital media executive Andy Meyer has joined the company as Vice President, Original Programming and Head of Video.  In this role, Mr. Meyer will oversee the company's video programming on all digital platforms, as well as for linear TV and branded entertainment. Formerly, Mr. Meyer was Vice President of Development /Executive Producer at Tremendous Entertainment. He also served as Vice President of Original Programming for NBC Sports Network (formerly Versus) and Fuse Media.

Townsquare Media, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year of 2016

Townsquare Media, Inc. provided earnings guidance for the fourth quarter and full year of 2016. The company still expects to see positive fourth quarter net revenue growth of approximately 4% to 7% over the prior year to between $117 million and $121 million, and to see positive fourth quarter adjusted EBITDA growth of approximately 14% to 19% over the prior year to between $24 million and $25 million. For the full-year 2016, this translates to an expected net revenue of $514 million to $518 million and adjusted EBITDA of $106 million to $107 million.

Townsquare Media, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016

Townsquare Media, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company's net revenue increased $36.2 million, or 27.9%, to $165.8 million, as compared to $129.6 million in the same period last year. This was driven primarily by the net revenue contribution of North American Midway Entertainment, which was acquired on September 1, 2015. Pro forma net revenue decreased $0.3 million, or 0.2%, to $165.8 million, as compared to $166.0 million in the same period last year. Net income for the quarter ended September 30, 2016 decreased $0.6 million, or 3.6%, to $15.9 million, as compared to $16.5 million in the same period last year. The decrease was primarily related to a decrease in the net gain on sale of assets associated with the divestiture of towers on September 1, 2015, and an impairment charge in the quarter ended September 30, 2016. Pro forma net income for the quarter ended September 30, 2016 decreased $7.3 million, or 31.7%, to $15.9 million, compared to $23.2 million in the same period last year. The decrease was primarily related to a decrease in the net gain on sale of assets associated with the divestiture of towers on September 1, 2015, and an impairment charge in the quarter ended September 30, 2016. Adjusted EBITDA for the quarter ended September 30, 2016 increased $10.9 million, or 32.4%, to $44.7 million, as compared to $33.7 million in the same period last year. The increase was primarily related to the Adjusted EBITDA contribution of NAME, which was acquired on September 1, 2015. Pro forma Adjusted EBITDA for the quarter ended September 30, 2016 decreased $1.0 million, or 2.1%, to $44.7 million, compared to $45.6 million in the same period last year. Operating income was $38,938,000 compared to $36,846,000 a year ago. Income before income taxes was $26,356,000 compared to $27,998,000 a year ago. Adjusted income before taxes was $30,422,000 compared to $17,502,000 a year ago. Adjusted net income was $18,311,000 or $0.67 per diluted share compared to $10,286,000 or $0.37 per diluted share a year ago. For the nine months, the company's net revenue increased $69.1 million, or 21.1%, to $397.3 million, as compared to $328.2 million in the same period last year. This was driven primarily by the net revenue contribution of NAME, which was acquired on September 1, 2015. Pro forma net revenue increased $8.4 million, or 2.2%, to $397.3 million, as compared to $388.9 million in the same period last year. Net income for the nine months ended September 30, 2016 increased $12.2 million, or 155.7%, to $20.1 million, as compared to $7.9 million in the same period last year. Pro forma net income for the nine months ended September 30, 2016 increased $11.5 million, or 134.1%, to $20.1 million, compared to $8.6 million in the same period last year. Adjusted EBITDA for the nine months ended September 30, 2016 increased $5.0 million, or 6.5%, to $81.9 million, as compared to $76.9 million in the same period last year. Pro forma Adjusted EBITDA for the nine months ended September 30, 2016 increased $0.4 million, or 0.5%, to $81.9 million, compared to $81.5 million in the same period last year. Operating income was $62,513,000 compared to $71,138,000 a year ago. Income before income taxes was $33,349,000 compared to $13,382,000 a year ago. Net cash provided by operating activities was $40,160,000 compared to $14,040,000 a year ago. Acquisition of intangibles was $332,000. Purchase of property and equipment was $16,826,000 compared to $9,935,000 a year ago. Adjusted income before taxes was $38,017,000 compared to $33,089,000 a year ago. Adjusted net income was $22,890,000 or $0.84 per diluted share compared to $19,417,000 or $0.70 per diluted share a year ago.

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