Townsquare Media to Acquire North American Midway Entertainment – West Side Nut Club Fall Festival & KY State Fair Rides!

Townsquare Media, Inc. (parent company to the radio stations 99.5 WKDQ, 1061 KISS-FM, 1053 ESPN Evansville, 103 GBF, and Newstalk1280 in Evansville and 92.5 WBKR and WOMI Owensboro in Owensboro) announced this week that it has entered into a definitive purchase agreement to acquire North American Midway Entertainment, LLC (“NAME”), the largest provider of rides, games and food concessions in North America.

Formed in 2004, NAME entertains more than 15 million people on an annual basis as the owner and operator of amusement attractions including over 200 state-of-the-art rides, custom-designed food concessions and family-oriented games at approximately 150 fairs per year across the United States and Canada, including the Indiana State Fair, the Kentucky State Fair and the West Side Nut Club Fall Festival. NAME maintains a strong reputation for ride quality, on-site execution and safety that has enabled it to secure long-term agreements to operate at 10 of North America’s largest 50 fairs.

“We are excited to partner with NAME’s management team and add NAME’s market leading mobile amusement parks to our Live Events portfolio,” commented Townsquare Chairman and Chief Executive Officer Steven Price. “Nearly half of NAME’s current events are within 100 miles of a Townsquare market and fit squarely within our core stated strategy of providing affordable, family-friendly entertainment content.”

Mr. Price continued, “This acquisition furthers our efforts to diversify our product offerings and increase our non-advertising based revenue, allowing us to offer more multi-channel, cross platform content opportunities to our consumers and business clients.”

Townsquare entertains nearly one million people per year across a diverse set of approximately 500 live events, many of which are focused on affordable, family friendly entertainment. Townsquare’s Live Events business operates in four principal verticals: music festivals (including the largest collection of country music and camping festivals in North America), participatory athletic events, lifestyle events and B2B/B2C expos. The Company's portfolio includes WE Fest, the largest country music and camping festival in the world; the Insane Inflatable 5K, one of the fastest growing obstacle race series in North America; and America on Tap, the only nationwide craft and premium beer festival series in the United States. The majority of Townsquare’s live events are held in and around the Company’s small and mid-sized markets. Following the consummation of the acquisition, NAME will operate as a new vertical within Townsquare's Live Events business, and its financial results will be reported in the Live Events segment.

Danny Huston, Co-Chief Executive Officer of NAME commented, “We believe this is a powerful combination: our experience and history as a leading provider of amusements in North America coupled with the additional products, services and resources of Townsquare.”

Added Jeff Blomsness, Co-Chief Executive Officer of NAME, “Our management team is delighted to join forces with Townsquare, and we look forward to continuing to provide best-in-class service and products to our customers for years to come.”