Regent Communications
Encyclopedia
Townsquare Media is an American
radio
broadcaster, based in Greenwich, Connecticut
.
, after it acquired sister companies Gap Broadcasting and GapWest Broadcasting, it owned 171 radio stations in 36 radio markets, with concentration in the Northeast
, Midwest
, Southwest
, and Mountain states
.
ticker symbol
RGCI) was founded in 1996
by Terry Jacobs and Bill Stakelin. Jacobs later since retired from the company and Stakelin became its CEO.
On October 27, 2008
Regent Broadcasting joined Radiolicious
and began streaming on the iPhone
and iPod Touch
. Regent is the first major radio group to contract for all of its streaming stations to be available through the Radiolicious
application.
Regent filed Chapter 11 bankruptcy on March 1, 2010
, with $211.3 million in debt, $166.5 million in assets, and a pre-arranged plan for exiting bankruptcy, with the United States Bankruptcy Court
for the District of Delaware
. The filing plan made Oaktree Capital Management
the majority owner of Regent after the bankruptcy and gave the old shareholders 12.8 cents per share. After the company privatization, the company was given its new name, Townsquare Media.
Oaktree Capital Management owned the radio group Gap Broadcasting. On August 13, 2010, Townsquare, which had about 62 radio stations in 13 radio markets in 2008, acquired Gap and its 111 stations in 23 markets. The combination gave Townsquare ownership of 171 radio stations in 36 markets.
On December 13, 2010, Townsquare launched a new country music news website called Taste of Country.
Townsquare acquired Double O Radio
in August 2011.
Townsquare is under common ownership with Triton Media Group
, which controls an extensive network of syndicated and network radio programs.
of Regent included 7 members:
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
radio
Radio
Radio is the transmission of signals through free space by modulation of electromagnetic waves with frequencies below those of visible light. Electromagnetic radiation travels by means of oscillating electromagnetic fields that pass through the air and the vacuum of space...
broadcaster, based in Greenwich, Connecticut
Greenwich, Connecticut
Greenwich is a town in Fairfield County, Connecticut, United States. As of the 2010 census, the town had a total population of 61,171. It is home to many hedge funds and other financial service companies. Greenwich is the southernmost and westernmost municipality in Connecticut and is 38+ minutes ...
.
, after it acquired sister companies Gap Broadcasting and GapWest Broadcasting, it owned 171 radio stations in 36 radio markets, with concentration in the Northeast
Northeastern United States
The Northeastern United States is a region of the United States as defined by the United States Census Bureau.-Composition:The region comprises nine states: the New England states of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont; and the Mid-Atlantic states of New...
, Midwest
Midwestern United States
The Midwestern United States is one of the four U.S. geographic regions defined by the United States Census Bureau, providing an official definition of the American Midwest....
, Southwest
Southwestern United States
The Southwestern United States is a region defined in different ways by different sources. Broad definitions include nearly a quarter of the United States, including Arizona, California, Colorado, Nevada, New Mexico, Oklahoma, Texas and Utah...
, and Mountain states
Mountain States
thumb|300px|Regional definitions vary from source to source. The states shown in dark red are always included, while the striped states are usually considered part of the same region called the Mountain States....
.
History
Regent Communications (former Pink SheetsPink Sheets
OTC Markets Group, Inc., informally known as "Pink Sheets", is a private company that provides services to the U.S. over-the-counter securities market including electronic quotations, trading, messaging, and information platforms. According to the U.S. Securities and Exchange Commission, OTC...
ticker symbol
Ticker symbol
A stock symbol or ticker symbol is a short abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. A stock symbol may consist of letters, numbers or a combination of both. "Ticker symbol" refers to the symbols that were printed on the ticker...
RGCI) was founded in 1996
1996 in radio
The year 1996 in radio involved some significant events.-Events:*WBOB and KQQL, both in Minneapolis, Minnesota are sold to Chancellor Communications....
by Terry Jacobs and Bill Stakelin. Jacobs later since retired from the company and Stakelin became its CEO.
On October 27, 2008
2008 in radio
Several events occurred in radio in 2008.- Events :* January 2: WWFT finished Christmas music stunting, rolling out the red carpet for Adult contemporary music branded as "Warm."...
Regent Broadcasting joined Radiolicious
Radiolicious
Radiolicious is an internet radio service created by MySimBook, based in Lafayette, Louisiana. Users are able to search and listen to terrestrial radio stations...
and began streaming on the iPhone
IPhone
The iPhone is a line of Internet and multimedia-enabled smartphones marketed by Apple Inc. The first iPhone was unveiled by Steve Jobs, then CEO of Apple, on January 9, 2007, and released on June 29, 2007...
and iPod Touch
IPod Touch
The iPod Touch is a portable media player, personal digital assistant, handheld game console, and Wi-Fi mobile device designed and marketed by Apple Inc. The iPod Touch adds the multi-touch graphical user interface to the iPod line...
. Regent is the first major radio group to contract for all of its streaming stations to be available through the Radiolicious
Radiolicious
Radiolicious is an internet radio service created by MySimBook, based in Lafayette, Louisiana. Users are able to search and listen to terrestrial radio stations...
application.
Regent filed Chapter 11 bankruptcy on March 1, 2010
2010 in radio
The following events occurred in radio in 2010.-Events:*Date Unknown: CHOI/Quebec City flips from Alternative Rock to News/Talk.*January 4: KJCS/Lufkin, Texas goes silent....
, with $211.3 million in debt, $166.5 million in assets, and a pre-arranged plan for exiting bankruptcy, with the United States Bankruptcy Court
United States bankruptcy court
United States bankruptcy courts are courts created under Article I of the United States Constitution. They function as units of the district courts and have subject-matter jurisdiction over bankruptcy cases. The federal district courts have original and exclusive jurisdiction over all cases arising...
for the District of Delaware
United States District Court for the District of Delaware
The United States District Court for the District of Delaware is the Federal district court having jurisdiction over the entire state of Delaware. The Court sits in Wilmington...
. The filing plan made Oaktree Capital Management
Oaktree Capital Management
Oaktree Capital Management, L.P. is a global investment management corporation with about US$82.4 billion of assets under management. Oaktree's mission is to provide management with a primary emphasis on risk control in a limited number of sophisticated investment specialties...
the majority owner of Regent after the bankruptcy and gave the old shareholders 12.8 cents per share. After the company privatization, the company was given its new name, Townsquare Media.
Oaktree Capital Management owned the radio group Gap Broadcasting. On August 13, 2010, Townsquare, which had about 62 radio stations in 13 radio markets in 2008, acquired Gap and its 111 stations in 23 markets. The combination gave Townsquare ownership of 171 radio stations in 36 markets.
On December 13, 2010, Townsquare launched a new country music news website called Taste of Country.
Townsquare acquired Double O Radio
Double O Radio
Double O Radio is a privately held media corporation with corporate headquarters in Charleston, South Carolina. The chief executive officer is Terry Bond. Double O Radio owns several radio stations in the United States....
in August 2011.
Townsquare is under common ownership with Triton Media Group
Triton Media Group
Triton Media Group, LLC, is a portfolio company of a fund managed by Oaktree Capital Management, L.P., a global investment management firm. It is based in Los Angeles.-Triton Radio Networks:...
, which controls an extensive network of syndicated and network radio programs.
Leadership
, prior to bankruptcy, the board of directorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of Regent included 7 members:
- William P. Sutter, Jr. (Chairman of the Board) — adjunct professor of finance at Northwestern UniversityNorthwestern UniversityNorthwestern University is a private research university in Evanston and Chicago, Illinois, USA. Northwestern has eleven undergraduate, graduate, and professional schools offering 124 undergraduate degrees and 145 graduate and professional degrees....
's Kellogg Graduate School of Management, and principal with Hopewell Ventures - William L. Stakelin — president and chief executive officer of Regent
- John H. Wyant — president of Blue Chip Venture Company
- Timothy M. Mooney (Chairman of the Audit Committee) — vice president of operations at St. Xavier High School (Cincinnati)
- Andrew L. Lewis IV — board member and advisor, Brynwood PartnersBrynwood PartnersBrynwood Partners is a private equity investment firm focused on leveraged buyout and other control investments.Since its founding in 1984, the firm—headquartered in Greenwich, Connecticut—has raised five investment funds, most recently raising a $250 million fund in 2005. Through these funds, the...
- John Ahn — principal, Riley Investment Management
- John DeLorenzon — CFO, Entravision CommunicationsEntravision CommunicationsEntravision Communications Corporation is a media company based in Santa Monica, California. Entravision primarily caters to the Spanish-speaking Hispanic community and owns television and radio stations and outdoor media, in several of the top Hispanic markets. They are the largest affiliate...
External links
- Townsquare Media — official site
- Taste of Country — country music news site owned by Townsquare