Townsquare Media has announced it has purchased Classic Rock 96.9 WOUR Utica NY from Galaxy Communications for an undisclosed amount.
WOUR will become Townsquare’s fifth station in the Utica market joining Classic Hits “96.1 The Eagle” WODZ, AC “Lite 98.7” WLZW, Country “Big Frog 104.3” WFRG-FM, and News/Talk 950 WIBX. Townsquare will begin taking over sales operations for the station via a Joint Sales Agreement, but Galaxy will continue programming it until the sale closes.
Galaxy Communications continues to own Rock “94.9 K-Rock” WKLL, Variety Hits “99.1 Tony-FM” W256AJ/WKLL-HD2, Hot AC “Mix 102.5” WUMX, and Sports trimulcast “ESPN 1310” WTLB/1230 WIXY/1350 WRNY in the Utica/Rome market.
Townsquare Media, Inc. (NYSE: TSQ) (“Townsquare”) today announced that it has entered into an agreement to acquire classic rock station WOUR-FM 96.9 (the “Station”) in Utica, NY from Galaxy Communications, LLC (the “Acquisition”). In addition, pursuant to a Joint Sales Agreement, Townsquare will take over all sales efforts for the Station effective immediately.
“We are pleased to announce this strategic acquisition which will strengthen our market leading position in Utica, NY,” commented Townsquare Co-Chief Executive Officer Bill Wilson. “Our existing asset portfolio of three FM stations and one AM station currently captures the number one revenue and audience share in the market. Adding WOUR, the leading classic rock station in Utica, will expand the marketing solutions we offer our local clients while also significantly expanding our local audience and advertiser base. We are confident that our strong local team, led by Karen Carey, Market President/Chief Revenue Officer of Townsquare Utica, will drive continued success in the market.”
Karen Carey added, “We are excited to add the powerful WOUR brand to our portfolio of top performing local stations, local digital platforms and local live events. WOUR is a heritage station in Utica with a valuable loyal audience and great advertiser relationships. We feel that WOUR is the perfect complement to our existing brands (Big Frog 104, Lite 98.7, 96.1 The Eagle and WIBX) and will allow us to offer more robust marketing solutions to our clients.”
WOUR-FM will join Townsquare’s existing Utica, NY stations: WFRG-FM 104.3, WLZW-FM 98.7, WODZ-FM 96.1 and WIBX-AM 950. Pro forma for the Acquisition, Townsquare will own 318 radio stations in 67 small and mid-sized markets, maintaining its position as the third largest owner of radio stations in the United States. Townsquare expects the Acquisition to close in the second quarter of 2018, subject to closing conditions and customary regulatory approvals.
Bergner & Co. represented the seller in connection with the Acquisition.
