Blockbuster Station Deal: Townsquare, Cumulus and Peak have "executed definitive documentation" on three transactions that will send 71 stations in 15 markets to Townsquare. Cumulus will receive cash in an undisclosed amount for 53 stations in 12 markets. Townsquare is also acquiring Peak's 11 stations in two markets for cash and equity. Finally, Peak/Fresno's five stations go to Cumulus in exchange for 15 stations in two markets (Dubuque, IA; Poughkeepsie, NY) and a "de minimims cash settle-up payment in favor of Townsquare." Townsquare will finance the deals with secured and unsecured debt, equity and cash on hand. Expected to close in the fourth quarter, the deals will give Townsquare a total of 312 stations in 66 markets, making it the third-largest owner of radio stations in the nation.

Country stations affected include KHAK/Cedar Rapids, IA, WDBY/Danbury, CT, WJOD/Dubuque, IA, KOEL/Waterloo, IA, KRFO/Owatonna, MN, KDHL/Fairbault, MN, WITL/Lansing, MI, WOKQ & WPKQ/Portsmouth, NH, WXKP & WZAD/Poughkeepsie, NY, WXXQ/Rockford, IL, KFIL AM & FM/Rochester, MN, KWWK/Rochester, MN, KAWO/Boise, ID and KSKS/Fresno, CA.

"These transactions represent the continued evolution of Townsquare Media into one of the nation's largest local media companies and allow us to reach a scale which opens the door to new strategic opportunities," says Townsquare Chairman/CEO Steven Price. "The assets we are adding to our portfolio are market leading brands with strong competitive positions in their respective small and mid-sized markets. We are excited by the opportunity to deploy our differentiated local-media strategy across a broader footprint in order to better serve our communities and our advertising clients."