Townsquare Expresses Support For FCC Appeal Of Third Circuit Decision In Prometheus Radio Project Case

PURCHASE, N.Y., Nov. 8, 2019 /PRNewswire/ -- Townsquare Media, Inc. TSQ ("Townsquare," the "Company," "we," "us," or "our") Chief Executive Officer, Bill Wilson, today expressed the Company's support for the Federal Communications Commission's ("FCC") petition for rehearing of the decision of a panel of Judges from the U.S. Court of Appeals for the Third Circuit in the Prometheus Radio Project case.

"Townsquare applauds the FCC for seeking rehearing by the full U.S. Court of Appeals for the Third Circuits of the decision in the Prometheus Radio Project case.  As a result of the decision, there has been a significant and unnecessary delay in the FCC's consideration of possible changes to its broadcast ownership rules, a process that is crucial to the continued ability of radio broadcasters to compete with newer digital technologies.  As we, along with a number of our competitors in the radio industry have previously noted, the competitive landscape has changed dramatically since the inception of the FCC's broadcast ownership rules.  For radio broadcast companies to remain competitive with the various digital advertising platforms and other newer technologies, it is essential that the regulatory playing field is more level and that the FCC's broadcast ownership rules are relaxed or repealed.  Accordingly, we strongly support the FCC's petition for rehearing, and hope that the full Third Circuit Court will reconsider the panel's decision so that a further review of the FCC's ownership rules can move forward to modernize those rules for the 21^st century."

About Townsquare Media, Inc.
Townsquare is a radio, digital media, entertainment and digital marketing solutions company principally focused on being the premier local advertising and marketing solutions platform in small and mid-sized markets across the U.S. Our assets include 321 radio stations and more than 330 local websites in 67 U.S. markets, a digital marketing solutions company (Townsquare Interactive) serving approximately 18,150 small to medium sized businesses, a proprietary digital programmatic advertising platform (Townsquare Ignite) and approximately 200 local live events each year.  Our brands include local media assets such as WYRK, KLAQ, K2 and NJ101.5; iconic local and regional events such as WYRK's Taste of Country, the Boise Music Festival, the Red Dirt BBQ & Music Festival and Taste of Fort Collins; and leading tastemaker music and entertainment websites such as XXLmag.com, TasteofCountry.com and Loudwire.com.  For more information, please visit www.townsquaremedia.com, www.townsquareinteractive.com, and www.townsquareignite.com.

Investor Relations
Claire Yenicay
(203) 900-5555
investors@townsquaremedia.com

SOURCE Townsquare Media, Inc.