Townsquare Second-Quarter Revenue Rises

Q2 Results

Saying that the results were consistent with its guidance, TOWNSQUARE MEDIA, INC. reported second quarter 2017 revenues up 2.6% to $140.7 million, with the division including radio and digital assets, "Local Marketing Solutions," up 2.9% to $90.5 million (up 4.8% excluding political) and the Entertainment division, which covers live events and carnivals, off 0.5% to $50.2 million.  Net income fell 0.7% to $5,6 million.

"We are pleased to report another solid quarter that was in line with our expectations," said Chairman/CEO STEVEN PRICE.  "In the second quarter, net revenue increased 2.6%, and net income and Adjusted EBITDA were approximately flat.  Our second quarter performance was anchored by our Local Marketing Solutions segment, where revenue increased 4.3% over the prior year, and 4.8% excluding political revenue.  Our results in this segment are representative of the continued strength of our local advertiser solutions and the strength our local teams."

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