Townsquare Media Closes On Purchase Of North American Midway Entertainment, LLC
September 8, 2015 at 4:00 AM (PT)
TOWNSQUARE MEDIA has closed on its purchase of HEARTLAND GROUP, LLC for $75.5 million ($5.5 million in Class A shares and the rest in cash). HEARTLAND is the parent company of carnival and event entertainment company NORTH AMERICAN MIDWAY ENTERTAINMENT, LLC.
The company also entered into an incremental amendment agreement with ROYAL BANK OF CANADA to amend its Senior Secured Credit Facility, increasing the existing term loan facility by $45 million to cover the cash needed to close on HEARTLAND.