Townsquare Media, Inc. (NYSE:TSQ) (“Townsquare”, the “Company,” “we,” “us,” or “our”) announced today that it has executed definitive documentation to acquire Cherry Creek Broadcasting LLC (“Cherry Creek”) for $18.75 million. Simultaneously, and due to FCC ownership limitations, Townsquare will divest six radio stations in Missoula, MT, to Anderson Broadcasting, Legacy Broadcasting (a non-profit organization), and Missoula Community Radio (also a non-profit organization), and place two radio stations in Tri-Cities, WA in a divestiture trust. Pro forma for the acquisition and divestitures (collectively known as the “Transaction”), Townsquare will add assets including 35 local radio stations in nine markets, increasing its portfolio of market leading local radio stations to 356 in 74 markets. This Transaction solidifies Townsquare’s position as the the only local media and digital marketing solutions company of scale focused principally on markets outside of the Top 50 in the United States, a vital differentiator for our Company.
Safe Bulkers Divests 2006-Built Kamsarmax Vessel For ~$16M
Safe Bulkers Inc (NYSE: SB) has agreed to sell MV Pedhoulas Trader, a 2006 Japanese-built, Kamsarmax class, dry-bulk vessel, for a net sale price of $15.84 million.
The sale carries a forward delivery date lies within December 2022.
