Papers were filed today that make it official: Townsquare is the new owner of the 11 Millennium (eight FM and three AM) stations in three markets that were recently acquired by Oaktree Capital. Oaktree is the money behind Townsquare, and earlier this year Millennium agreed to sell the company to Oaktree. The next step was for the 11 stations to be moved under the Townsquare umbrella, and that happened today. Under the leadership of Chairman/CEO Steven Price, Townsquare has slowly been building quite a portfolio of stations -- the company now has over 170 radio stations in small to medium-sized markets throughout the country.
The regulatory paperwork is expected to take about a month to go through. Bill Saurer has officially stepped down as President and CEO of Millennium, and the Millennium staff has been notified of the change in ownership. Townsquare/Flint, MI GM Zoe Burdine-Fly will be in charge of the 11 Millennium stations.
Add a Comment Send This Story To A Friend
