TOWNSQUARE ACQUIRING LOCAL MEDIA ASSETS FROM CHERRY CREEK
Furthers Goal of Being the #1 Digital First Local Media Company in Markets Outside of the Top 50 in the United States
PURCHASE, N.Y., March 24, 2022 /PRNewswire/ -- 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 dives
