Townsquare Media Buys North American Midway Entertainment, LLC
August 17, 2015 at 4:29 AM (PT)
TOWNSQUARE MEDIA, INC. is adding to its Live Events division with the purchase of carnival and fair ride and food concession operator NORTH AMERICAN MIDWAY ENTERTAINMENT, LLC for about $75.5 million.
“We are excited to partner with NAME’s management team and add NAME’s market leading mobile amusement parks to our Live Events portfolio,” said TOWNSQUARE Chairman and CEO STEVEN PRICE. “Nearly half of NAME’s current events are within 100 miles of a TOWNSQUARE market and fit squarely within our core stated strategy of providing affordable, family-friendly entertainment content. This acquisition furthers our efforts to diversify our product offerings and increase our non-advertising based revenue, allowing us to offer more multi-channel, cross platform content opportunities to our consumers and business clients.”