Townsquare Media Repurchases 1.5 Million Shares

 Townsquare Media Repurchases 1.5 Million Shares


TOWNSQUARE MEDIA has repurchased and retired 1.5 million of its shares held by MSG NATIONAL PROPERTIES, LLC at $9.70 per share ($14.5 million in the aggregate), an 8.5% discount from YESTERDAY’s closing price. The repurchase gives the company 1,708,139 shares in itself.“We could not be more pleased to share that given our strong cash position, we were able to repurchase approximately 8.5% of our total shares outstanding (and nearly half of MSG’s ownership in TOWNSQUARE), capturing a positive return for our shareholders. Due to our strong cash flow generation, we have demonstrated TOWNSQUARE’s ability to support a high yield dividend and repurchase debt and equity, while also simultaneously investing in the future of our digital growth engine,” said TOWNSQUARE CEO BILL WILSON. “This repurchase is immediately accretive to shareholders and we thank our Board of Directors for their vote of confidence in our medium and long-term business plan to grow revenue and profits.”

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