Company Overview of Townsquare Media, Inc.
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
Founded in 1996
Key Executives for Townsquare Media, Inc.
Chairman, Chief Executive Officer and Chairman of Nominating & Corporate Governance Committee
Total Annual Compensation: $1.1M
Chief Financial Officer and Executive Vice President
Total Annual Compensation: $1.1M
Chief Content & Digital Officer and Executive Vice President
Total Annual Compensation: $1.2M
Compensation as of Fiscal Year 2015.
Townsquare Media, Inc. Key Developments
Townsquare Media, Inc. Announces Executive Changes
Sep 12 16
On September 6, 2016, Amy Miles resigned from her position as a member of the Board of Directors of Townsquare Media, Inc. and as chair of the Board's Audit Committee. Ms. Miles' resignation was not because of a disagreement with the Company on any matters relating to the Company's operations, policies or practices. Ms. Miles resigned in order to comply with new proxy voting policies of Glass Lewis relating to the maximum number of public company boards of directors a chief executive officer should serve on. On September 9, 2016, the Board appointed Margaret M. Cannella as a director of the Company, filling the vacancy created by Ms. Miles' departure. Ms. Cannella was appointed to take Ms. Miles' place as chair of the Board's Audit Committee. Ms. Cannella will serve as a Class III member of the Board. The terms of the Class III directors expire at the 2017 Annual Meeting of Shareholders. Ms. Cannella currently serves as an Adjunct Professor in the Heilbrunn Center for Value Investing at Columbia Business School, a position she has held since September 2010, teaching courses in leveraged financing and credit markets. In 2009, after 30 years in investment banking in the U.S., Europe and Asia, Ms. Cannella retired from JPMorgan Chase & Co. as Managing Director and Head of Global Credit Research. Ms. Cannella previously served as Head of U.S. Equity and Credit Research at JPMorgan. In these roles, Ms. Cannella was a member of the operating committee for global markets, chaired JPMorgan's capital market strategy function and represented JPMorgan on regulatory and self-regulatory bodies. Prior to joining JPMorgan in 1998, Ms. Cannella was a Managing Director at Citigroup Inc., ultimately responsible for Global Research. Ms. Cannella presently serves on the board of directors of AdvancePierre Foods Holdings, Inc., where she chairs the audit committee and on the board of directors of Watford Re Ltd., an affiliate of Arch Capital Group Ltd., where she chairs the investment committee. Ms. Cannella also serves as an independent trustee of the Schroder Funds, where she is a member of the audit committee. Ms. Cannella has previously served on the board of directors of Avolon Aircraft Holdings, Inc., where she chaired the nominations and corporate governance committee, and as a member of the Wilshire Mutual Funds, where she chaired the investment committee.
Townsquare Media, Inc. Appoints Scott Epstein as Senior Vice President, Live Events and Head of Sponsorship Sales
Sep 8 16
Townsquare Media, Inc. announced that senior entertainment sales executive, Scott Epstein, has joined the company as Senior Vice President, Live Events and Head of Sponsorship Sales. In this role, Mr. Epstein will oversee the company's live events sales development and fulfillment efforts and develop innovative marketing programs for brand clients in the company's live events business. Formerly, Mr. Epstein was Chief Business Development Officer of Van Wagner Sports & Entertainment, where he also served as President, Experiential & Activation Marketing and Executive Vice President, Sales of Non-Traditional Marketing Platforms, where he worked with a roster of clients including Fox Broadcasting, Footlocker, Budweiser, DirecTV, and Geico.
Townsquare Media, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016
Aug 4 16
Townsquare Media, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported net revenue of $137.157 million compared to $117.516 million a year ago. Operating income was $17.783 million compared to $23.454 million a year ago. Income before income taxes was of $9.285 compared to loss of $14.845 million a year ago. Net income attributable to controlling interests of $5.451 million or $0.20 per diluted share compared to loss of $9.132 million or $0.50 per diluted share a year ago. Adjusted net income was $6.105 million or $0.22 per diluted share compared to $9.012 million or $0.52 per diluted share a year ago. Adjusted EBITDA was of $25.250 million compared to $28.616 million a year ago.
For six months, the company reported net revenue of $231.589 million compared to $198.634 million a year ago. Operating income was $23.675 million compared to $34.292 million a year ago. Income before income taxes was of $6.993 compared to loss of $14.616 million a year ago. Net income attributable to controlling interests of $4.007 million or $0.15 per diluted share compared to loss of $9.036 million or $0.50 per diluted share a year ago. Net cash provided by operating activities were of $13.414 million compared to net cash used in operating activities were of $14.398 million a year ago. Purchase of property and equipment were of $12.416 million compared to $5.812 million a year ago. Acquisition of intangibles was of $0.032 million. Adjusted net income was $4.581 million or $0.17 per diluted share compared to $9.175 million or $0.53 per diluted share a year ago. Adjusted EBITDA was of $37.221 million compared to $43.615 million a year ago.
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