Home Login RADIO ONLINE RSS Facebook
Advertisement

Townsquare Media Secures $490 Million Credit Agreement


Townsquare Media
Townsquare Media

Townsquare Media has entered into a $490 million credit agreement with Bank of America, N.A., the company announced in an 8-K regulatory filing. The new financing arrangement includes a five-year, $470 million senior secured term loan facility and a $20 million senior secured revolving credit facility.

The company used approximately $453 million in net proceeds from the financing, combined with cash on hand, to redeem all of its outstanding 6.875% senior secured notes due 2026. The redemption took place on February 19, 2025, effectively eliminating the previous debt obligation under the indenture agreement dated January 6, 2021.

The agreement includes customary financial covenants restricting the company's ability to incur additional debt, pay dividends, or sell assets. It also includes standard events of default, such as nonpayment, covenant violations, bankruptcy, and change of control provisions.

Townsquare Media noted that it may engage lenders from the credit agreement for additional financial services in the future. This transaction allows Townsquare Media to refinance its existing debt while securing long-term financial flexibility as it continues its operations in local media, digital marketing, and entertainment.

Advertisement

Latest Radio Stories

Zoellner Media Group to Acquire CMG Tulsa Radio Stations
Zoellner Media Group
Zoellner Media Group
Tulsa-based Zoellner Media Group has entered into a definitive agreement to purchase all of Cox Media Group's radio outlets in Tulsa, marking the company's first major foray into local broadcasting. Terms were not immediately disclosed. Upon completion of the transaction, Zoellner Media Group will acquire More

AM/FM Radio Streaming Tops Spotify, Pandora in New Study
Cumulus Media and Westwood One
Cumulus Media and Westwood One
A new analysis from Edison Research's Q1 2025 "Share of Ear" study reveals significant gains for AM/FM radio streaming, which now surpasses both Spotify and Pandora in ad-supported audio share. The findings, published by Cumulus Media | Westwood One's Audio Active Group, highlight five key takeaways that More

Broadcasters Foundation Sets June 18 for NYC Media Mixer
Broadcasters Foundation of America
Broadcasters Foundation of America
The Broadcasters Foundation of America (BFOA) has announced the next installment of its popular Media Mixer series, set for Wednesday, June 18, from 5:30 to 7:30pm ET at iHeartMedia's New York City studios at 125 West 55th Street, 12th Floor. The event, created to connect More
Advertisement

MacDonald Saginaw Names Bob Lawrence as MM
Bob Lawrence
Bob Lawrence
Bob Lawrence is appointed Market Manager for MacDonald Broadcasting's radio cluster and digital properties in Saginaw, MI. He most recently served as General Manager and Market Manager for Seven Mountains Media's cluster in Parkersburg-Marietta. Lawrence joined Seven Mountains Media in May 2024 after serving More

Kim Fitz Joins Christian FM Media's TCM Network
Kim Fitz
Kim Fitz
Christian FM Media Group has announced the addition of veteran Christian radio host Kim Fitz to its syndicated "Today's Christian Music" network. Fitz will anchor the midday slot across the network's 167 affiliated stations, bringing her signature style of warmth, clarity, and uplifting content to audiences More

''Donna & Steve'' Expands to Weekday Mornings
Donna & Steve
Donna & Steve
Syndicated "Donna & Steve" has expanded into weekday programming, launching Monday as a morning show on WREW-FM (Mix 94.9) in Cincinnati. The move marks a significant milestone for the show, which initially aired as a weekend program in multiple markets earlier this year through syndication partner Skyview More

Return to Menu

Advertisement

Subscribe to our Newsletter
Radio news and headlines delivered right to your e-mail box -- and it's free.

Advertisement

Advertisement