Townsquare Media (TSQ) Misses Q2 EPS by 84c
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August 5, 2015 7:00 AM EDT
GREENWICH, Conn.--(BUSINESS WIRE)--
Townsquare Media, Inc. (NYSE: TSQ) ("Townsquare Media," the "Company,"
"we," "us," or "our") announced today financial results for the second
quarter ended June 30, 2015.
Second Quarter Highlights
As compared to the second quarter of 2014:
Net revenue increased 10.6%, and 11.4% excluding political revenue
Local Advertising net revenue increased 0.6%, and 1.5% excluding
political revenue
Live Events net revenue increased 50.4%
Other Media and Entertainment net revenue increased 9.5%
Pro forma Adjusted EBITDA increased 2.5%, consistent with previously
issued guidance...
More
August 5, 2015 7:00 AM EDT
Tower Sale Harvests Capital from Non-Strategic Assets
GREENWICH, Conn.--(BUSINESS WIRE)--
Townsquare Media, Inc. (NYSE: TSQ) (the Company) today announced that
it has entered into an agreement to sell 43 towers to a subsidiary of
Vertical Bridge Holdings, LLC for approximately $22.8 million in cash,
subject to closing adjustments (the Tower Sale). The Company will
retain ownership of more than 250 towers following the Tower Sale.
We are very excited to complete this transaction which will allow us to
unlock capital sequestered in non-strategic tower assets at an
attractive valuation level, commented Townsquare Chairman and Chief... More
