TOWNSQUARE MEDIA, INC. - TSQ STOCK NEWS

Townsquare Media reported its Q1 2021 financial results, showing a 5% decline in net revenue year over year, attributed largely to a 99.7% decrease in Live Events revenue. However, digital revenue grew 13% year over year, fueled by its digital marketing platforms, representing 49% of total revenue. Adjusted EBITDA increased 29.7% to $20.1 million, exceeding pre-COVID levels from Q1 2019. The net loss decreased significantly from $59.6 million to $6.1 million. The company expects digital revenue to reach $250 million within three years.

Townsquare Media, Inc. (NYSE: TSQ) will release its first quarter 2021 financial results on May 10, 2021, before market open. A conference call is scheduled for 8:00 a.m. Eastern Time on the same day to discuss the results. Investors can dial in at 1-877-407-0784 (U.S.) or 1-201-689-8560 (International) with confirmation code 13719031. Additionally, Townsquare will participate in the Barrington Research Virtual Spring Investment Conference on May 27, 2021, for one-on-one meetings with investors.

Townsquare Media, Inc. (NYSE: TSQ) appointed Allison Zolot as Senior Vice President and General Counsel effective April 5, 2021. Previously a Senior Associate at Mayer Brown, she has experience in high-profile litigation and regulatory matters. CEO Bill Wilson expresses enthusiasm for her leadership skills, emphasizing their goal to enhance long-term growth and shareholder value through the 'Local First' strategy. Townsquare Media focuses on community-driven digital media and marketing solutions, operating 322 radio stations across 67 cities.

Townsquare Media (NYSE: TSQ) reported its Q4 and full-year financial results for 2020, revealing a net revenue decline of 3% in Q4 and 13.9% for the year. Adjusted EBITDA increased by 8% to $27 million in Q4, while digital revenues grew by 6% year-over-year, comprising 44% of total net revenue. The company successfully refinanced $550 million in debt and repurchased shares from Oaktree Capital at $6.40 per share, a move expected to enhance cash flow per share. Despite challenges, Townsquare remains optimistic about its "Local First" strategy and future growth.

Townsquare Media, Inc. (TSQ) announced the repurchase of Oaktree Capital Management's 12.6 million shares and warrants at $6.40 per security, totaling $80.4 million. This transaction represents a 39% discount to the closing price on March 9, 2021, and is projected to be accretive to earnings per share and free cash flow per share by over 70%. Following the buyback, approximately 16 million securities remain outstanding. The company will also pay Oaktree a $4.5 million consent fee, enhancing shareholder value by eliminating ownership overhang.

Townsquare Media (NYSE: TSQ) announced that CEO Bill Wilson and CFO Stuart Rosenstein will attend two investor conferences. The conferences include the Guggenheim Virtual Broadcasting Symposium on March 4, 2021, and the Deutsche Bank Virtual Media, Internet & Telecom Conference on March 8, 2021. Management will also be available for one-on-one and small group meetings with investors. Townsquare focuses on digital media and marketing solutions outside the top 50 U.S. markets, operating 322 local radio stations and various digital brands to support approximately 22,750 small and medium businesses.

Townsquare Media announced a significant repurchase agreement to buy back a minimum of 10 million shares from Oaktree Capital at $6.40 per share, representing a 19% discount from the recent closing price. The deal, pending FCC approval, will reduce outstanding shares by nearly one-third, enhancing shareholder value. The repurchase is viewed positively by the company's CEO, as it alleviates concerns about Oaktree's influence on investor interest. The total expected purchase price is at least $64 million, with potential options for future purchases.

Townsquare Media (NYSE: TSQ) announced that CEO Bill Wilson will present at NobleCon17 on January 19, 2021, at 4:30 p.m. Eastern Time. The virtual conference is free to attend, and a high-definition video of the presentation will be available the following day on the company's investor relations website. The webcast will be archived for 90 days. Townsquare Media specializes in community-focused digital media and marketing, operating 322 local radio stations and digital platforms for over 21,900 small and medium businesses.

Townsquare Media has priced an offering of $550 million in 6.875% senior secured notes due in 2026, targeting qualified institutional buyers and international investors. The notes will be secured by the Company and certain subsidiaries, with closing expected on January 6, 2021. Proceeds will be used to repay existing credit facilities, redeem outstanding 6.500% senior notes due 2023, and cover related expenses. The offering will not be registered under the Securities Act, thus limiting sales in the United States.