Radio Ink can confirm that an announcement will be made some time today that Oaktree will be taking over the 11 stations now owned by Millennium in 3 markets in New Jersey. Details of that transaction will be released later today. Oaktree is one of the holders of debt in Millennium and the purchase is part of a Millennium restructuring. Oak Tree also just happens to be a major part of Townsquare media and there has been speculation recently that Townsquare has been eyeing Millennium. However, this transaction to be announced today, is NOT Townsquare purchasing Millennium.
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