Townsquare Files IPO
It's been a long time since a radio company went public. On Tuesday, Townsquare announced that it has filed a an IPO and hopes to raise about $148 million. The number of shares to be offered and the price range for the offering have not yet been determined. Townsquare could be a publicly traded company by late July and will trade on The New York Stock Exchange under the symbol "TSQ." Townsquare has 312 radio stations and over 325 local websites in 66 small- and mid-sized markets. BofA Merrill Lynch, Jefferies, RBC Capital Markets, Guggenheim Securities, and Macquarie Capital will serve as joint book-running managers of the offering.
(6/24/2014 6:24:38 PM) |
yet another radio broadcasting company making decisions based on "shareholder value." go get'em tiger!
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