Townsquare Media has closed its acquisition of the 11-station Millennium Radio Holdings group in New Jersey. Millennium had previously been owned by Oaktree Capital, which happens to be the majority owner of Townsquare as well.
In addition to the stations, the Millennium acquisition brought along a statewide news network and related websites in 3 New Jersey markets. With the Millennium operations, Townsquare Media says it now owns 176 radio stations and related websites in 38 markets, making it the fourth largest owner of radio stations in the United States. Upon closing of the pending Double O transaction, Townsquare Media will own 202 radio stations and related websites in 43 markets.
“The acquisition of Millennium is consistent with our strategy of owning market leading media properties in small and mid?sized markets,” said Townsquare Media Chairman and CEO Steven Price. “We are excited to continue to add premier assets to our portfolio including, New Jersey’s leading talk radio station, WKXW 101.5. The strength and depth of the Millennium team is an excellent addition to Townsquare Media and we are excited to add new advertisers and to broaden our audience reach.”
Zoe Burdine?Fly, who joined Millennium on July 20, 2011 from her previous role as Market Manager of Townsquare Media’s Flint station cluster, will continue to oversee the Millennium operations and will report to Erik Hellum, Executive Vice President, Radio for Townsquare Media.