Townsquare Appoints Wilson, Prasad as Co-CEOs

RADIO ONLINE | Monday, October 16, 2017

Townsquare Media promotes Bill Wilson and Dhruv Prasad to Co-Chief Executive Officers, reporting to the board of directors, effective Monday. They replace current CEO and Townsquare's founder Steven Price, who'll transition to a new role of Executive Chairman of the Board. In addition, Erik Hellum has been appointed as Chief Operating Officer/Local Media.

"Appointing two of our long-time senior executives as Co-Chief Executive Officers will allow Townsquare to strengthen and solidify its management team while preserving continuity and stability," said David Quick, a Townsquare Board Member since inception and Managing Director at Oaktree Capital Management, L.P. Townsquare's principal shareholder. "Our board is pleased that Steven will continue to focus on the company's overall strategic direction and we are appreciative that Townsquare will continue to benefit from Steven's counsel through his continued leadership of the Board."

"I want to congratulate both Bill and Dhruv on this well-deserved appointment. I am confident that this team, along with the rest of our senior executives, will lead our organization superbly as we further strengthen our position in the marketplace," said Price. "I am eager to begin my new role as Executive Chairman and look forward to working with Bill and Dhruv to execute upon the Company's strategy."

"I am excited to lead Townsquare in reaching new heights and continue as the premier local advertising and marketing solutions Company in the heartland of America," said Wilson. "And we are pleased that Erik Hellum will take on added responsibilities as COO, Local Media."

Dhruv Prasad added, "I am very grateful to Steven and the Board for this opportunity, and I am excited to get to work with Bill, Erik, Stu and the rest of Townsquare's management and employees to continue to grow our business and deliver value to our stakeholders."

Price founded Townsquare in May, 2010 and previously served as Chairman/CEO. Prior to founding Townsquare, Price was Senior Managing Director at Centerbridge Partners, a private equity firm, where he handled investment efforts in telecom, technology and media. Before that, he held a similar position at Spectrum Equity Investors. From 2001-2004, Mr. Price served as Deputy Assistant Secretary of Defense (Spectrum, Space and Communications), for which he was awarded the Secretary of Defense Medal for Outstanding Public Service.

Wilson joined Townsquare in September, 2010 and most recently served as Executive VP and Chief Content & Digital Officer. Previously, Wilson was President of AOL Media from 2006-2010 where he had overall responsibility for the company's global content strategy. In his nine years at AOL, he also served in a number of roles including President, AOL Programming & Studios and Executive Vice President, AOL Programming.

Prasad co-founded Townsquare in 2010 and most recently served as Executive VP/Live Events. Prior to that he spent nearly a decade in private equity investing and corporate finance, completing transactions in media, communications, financial services, real estate, and technology. He previously worked at Thomas H. Lee Partners and Spectrum Equity Investors, and began his career in the Investment Banking Division of Salomon Smith Barney, where he worked in New York and Hong Kong.

Hellum joined Townsquare in August, 2010 following the acquisition of GAP Radio Broadcasting, where he served as President of GAP West from May 2008 to August 2010. Prior to that, Hellum worked at Bonneville International as Vice President/Market Manager of WIL/WRTH in St. Louis from October 2002 to November 2004 and spent 4 years as Vice President/Market Manager of KTAR-AM/FM and KPKX/Phoenix from November 2004 to April 2008. Previously, Mr. Hellum was Vice President -- Sales for AM/FM and oversaw Clear Channel's early cross-platform sales efforts. He began his career at Katz Radio, where he held positions of increasing responsibility in Boston, Philadelphia, Chicago, Los Angeles, and New York. Mr. Hellum received a B.A. from the University of Wisconsin.