The buyback transaction represents approximately 8.5% of Townsquare's total shares outstanding and accounts for nearly half of MSG's ownership stake in the company.
"There are a lot of issues that we have to think through."
Its digital advertising segment, was the top growth driver, with revenue growing by 15.4% and profits increasing by 23% year-over-year.
In a press release on Thursday, CEO Bill Wilson attributed the record 2022 results to “Townsquare’s transformation into a digital-first local media company."
For the second quarter of the fiscal year, Townsquare Media is reporting a net revenue of $121.9 million. That increase is 13.6% higher than the same...