Townsquare Media Buys Gap Radio

[FilioScotia]

In an interesting twist on the old adage that little fish have big fish to bite'em, Cincinatti-based Townsquare Media, a "little fish" with just 60 radio stations, has bought Dallas-based Gap Broadcasting, a decidedly "bigger fish" with 111 radio stations.The little fish gobbled up the bigger fish.

Gap owned 37 stations in Texas, including five stations in its Lufkin/Nacogdoches cluster. We all know that new corporate ownership almost always means changes at the station level, one wonders what's going to change at those stations.

Gap Broadcasting has already taken down its website. Try to go to it and you're forwarded to Townsquare Media's site. Check out Gap on the WikiPedia, and you'll see that Gap is already Past Tense. Now owned by Townsquare. A deal of this size had to take many months to execute, and I must say that the Gap people really did a good job of keeping a lid on it until it was done. It really flew in under the radar.

Here's a link to the news release on Townsquare's website:
http://townsquaremedia.com/townsquare-media-acquires-gap-radio-broadcasting/

 

[fredcantu]

The little fish gobbled up the bigger fish.

As did CapCities when it bought ABC.

 

[fredcantu]

I think it was back in the 1970s that CapCities bought ABC, a decidedly bigger fish.

 

[fredcantu]

Remember when CapCities bought ABC?

 

[Garrett]

Nothing will change, its just the same company. Not really an aquisition:
"The Company’s majority shareholder is a fund managed by Oaktree Capital Management, L.P."

If I'm not mistaken, that was the majority shareholder before. George Laughlin is still in charge of half of the company. So in stead of Gap and Gap west, its now "Town" and "Square."

Same Titanic, different deck chairs.

 

[FilioScotia]

Same Titanic, different deck chairs.

LOLL Is that a prediction of their future? One big change is likely though. Station and Group Managers will have to fly to Connecticut instead of Dallas to meet with their corporate bosses.

 

[musicsweep]

Same Titanic, different deck chairs.

LOLL Is that a prediction of their future? One big change is likely though. Station and Group Managers will have to fly to Connecticut instead of Dallas to meet with their corporate bosses.

Great! I've always wanted to see New England!

 

[Garrett]

Same Titanic, different deck chairs.

LOLL Is that a prediction of their future? One big change is likely though. Station and Group Managers will have to fly to Connecticut instead of Dallas to meet with their corporate bosses.

Great! I've always wanted to see New England!

Didn't work for us when I was at Channel 13, Quorum was run out of an office in Boston. Hard to believe, since KLBK and KAMC looked nothing like the stations in Boston.