Welcome to our dedicated page for Townsquare Media SEC filings (Ticker: TSQ), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Townsquare Media, Inc. filings document a public local media and digital advertising company with operating disclosures centered on quarterly results, segment economics, capital returns, and material-event reporting. Form 8-K filings attach earnings releases that report results for the company’s digital advertising, broadcast advertising, and subscription digital marketing activities, along with guidance, dividend actions, debt commentary, and Regulation FD-related disclosure practices.
Definitive proxy materials cover annual-meeting governance, board matters, executive compensation, pay-versus-performance information, equity awards, and shareholder voting items. The filing record also includes exhibit lists and Inline XBRL cover-page data associated with material-event reports.
TSQ submitted a Form 144 notice covering 4,836 Class A shares tied to restricted stock vesting on 03/18/2026. The filing also records recent open-market dispositions by Scott A. Schatz: 28,980 shares on 03/19/2026 for $147,088.84 and 21,090 shares on 03/20/2026 for $105,866.11.
TSQ submitted a Form 144 notifying the sale of 30,000 Class A shares (restricted stock vesting) with a trade date listed as 03/18/2026. The filing also discloses recent dispositions of 28,980 and 21,090 Class A shares on 03/19/2026 and 03/20/2026 respectively.
Townsquare Media EVP Scott Schatz reported a compensation grant and a stock sale in the company’s shares. On March 18, he received 84,906 shares of Class A common stock as a stock award that vests immediately. On March 19, he executed an open-market sale of 28,980 Class A shares at a weighted average price of $5.08 per share, with individual trades ranging from $5.00 to $5.26. After these transactions, he directly holds 123,977 Class A shares, which include 93,977 unrestricted shares and 30,000 fully vested options to purchase Class A stock, as well as 196,846 Class B shares, including 21,846 unrestricted Class B shares and 175,000 fully vested Class B options.
TSQ reported insider sales under Rule 144. The filing lists 21,090 Class A shares as restricted stock vesting on 03/18/2026 described as compensation, and shows 28,980 Class A shares sold on 03/19/2026. The seller listed is Scott A. Schatz with an address in Purchase, NY. The transaction was reported for NYSE-listed Class A shares.
Townsquare Media, Inc. describes itself as a community-focused, digital-first local media and marketing company operating mainly outside the top 50 U.S. markets. It runs three segments: Digital Advertising (Townsquare Ignite), Subscription Digital Marketing Solutions (Townsquare Interactive), and Broadcast Advertising, plus a smaller live events portfolio.
Digital revenue from Ignite and Interactive was $236.0 million in 2025, or 55% of net revenue, while Broadcast Advertising generated $183.4 million and Other (primarily live events) $8.0 million. The company owns 340 radio stations in 74 markets and more than 400 local websites and apps, supported by substantial first-party data and proprietary ad-tech.
Townsquare highlights a "Digital First" growth strategy, ongoing investment in technology, sales and content, and a large SMB-focused subscription TAM. It notes $433.0 million of debt outstanding as of December 31, 2025, capital expenditures of $15.2 million (3.6% of net revenue), and a workforce of 1,804 employees, while outlining extensive regulatory, macroeconomic, technology and AI-related risks.
Townsquare Media reported softer 2025 results but met its earlier guidance and highlighted continued strength in digital. Full-year net revenue was $427.4M, down 5.2%, while Adjusted EBITDA fell 12.2% to $88.1M. Net loss narrowed by $1.2M to $9.8M, helped by lower impairment charges and cost controls.
Digital operations are now the core of the business, contributing 55% of total net revenue and 56% of Segment Profit in 2025. Within this, Digital Advertising revenue grew 1.6% and Subscription Digital Marketing Solutions revenue slipped 0.7%, but Townsquare Interactive’s Segment Profit rose 17.4% with a strong 34% margin.
Broadcast Advertising remained under pressure, with 2025 net revenue down 12.6%, including an 8.0% decline excluding political. In Q4, net revenue declined 9.6% to $106.5M and the company swung to a net loss of $4.8M, as political advertising and tax benefits dropped and interest expense increased.
Despite higher interest costs, Townsquare generated $30.6M of cash flow from operations in 2025, used to fund digital investments, pay $13.2M in dividends, and reduce debt. Outstanding debt stood at $457.4M at year-end, implying roughly 5.1x net leverage. Since a February 2025 refinancing into a five-year $490M credit facility, the company has reduced debt by $22.6M.
The board approved a quarterly cash dividend of $0.20 per share, payable on May 4, 2026 to shareholders of record on April 27, 2026, which equates to an approximate 11% yield at the last closing price. Management plans to maintain this dividend, citing confidence in the digital strategy and free cash flow profile. For 2026, Townsquare expects net revenue between $420M and $440M and Adjusted EBITDA between $87M and $93M, implying broadly stable performance versus 2025 while continuing to focus on net leverage reduction.
Townsquare Media COO Erik Hellum reported an open-market sale of 20,106 shares of Class A common stock on February 18, 2026 at $6.58 per share.
According to the disclosure, the shares were sold to cover tax withholding after restricted stock units vested, and Hellum held 949,542 shares directly following the transaction.
TSQ reports a proposed sale of 20,106 Class A shares tied to restricted stock vesting on 02/12/2026.
The filing lists three Class A sales by Erik Hellum in the past three months: 5,693 shares on 12/29/2025 for $28,813.41, 7,437 shares on 01/16/2026 for $41,163.80, and 6,522 shares on 01/20/2026 for $36,324.28.
Townsquare Media executive vice president of finance, operations and technology Scott Schatz reported acquiring 980 shares of Class A common stock at $6.61 per share in a dividend reinvestment transaction on February 2, 2026. Following this, he directly holds 58,051 Class A shares, including 20,000 fully vested options, and 196,846 Class B shares, including 175,000 fully vested options, all without vesting or transfer restrictions.