Townsquare Media Group to Buy AOL Music Assets and Comics Site

Townsquare Media Group has entered into an agreement to buy three music sites from AOL as well as its ComicsAlliance site. No financial terms were disclosed. The sites are The Boot, the BoomBox and NoiseCreep. Together with ComicsAlliance, they will join Townsquare Media Group’s national digital business, which reaches over 52 million U.S. monthly unique visitors. Based in Greenwich, CT, Townsquare Media Group is a portfolio company of Oaktree Capital Management.

PRESS RELEASE

Greenwich, CT, June 3, 2013
Townsquare Media Group announced today that it has entered into an agreement to acquire AOL Music assets The Boot, The BoomBox and NoiseCreep as well as ComicsAlliance from AOL Inc. The new digital properties will join Townsquare Media Group’s national digital business, a portfolio of premium music and entertainment websites which reach over 52 million US monthly unique visitors and include Taste of Country, PopCrush, ScreenCrush and Okayplayer.
AOL Music is considered a pioneer in digital music, creating The Boot, The Boombox and NoiseCreep to expand its scope into Country Music, Hip Hop and R &B and heavy metal, respectively.ComicsAlliance is one of the most important and established online voices in the comic book industry. The site, a three-time and 2013 nominee for the industry’s esteemed Eisner Award, has hosted its own panel at ComicCon and has been featured on The Daily Show and in New York Magazine.
“The acquisition of these assets from AOL represents the continued rapid growth of Townsquare Media’s portfolio of owned and operated music and entertainment websites,” commented Townsquare Media Group Chairman and CEO, Steven Price. “Adding these premium brands to Townsquare Media’s comprehensive offering propels our scale beyond today’s 52 million US monthly unique visitors, allowing advertisers and agencies even greater access to this highly engaged and demographically desirable audience.”
As part of the transaction, members of the AOL Music and ComicsAlliance teams will be working with Townsquare Media’s team going forward. Terms of the agreement were not disclosed.
About Townsquare Media Group
Townsquare Media Group creates and distributes original and motivating media experiences that connect communities seamlessly with content they love, people they trust, products they want, and things that matter. We attract, engage, and activate audiences on a local and national basis through our unique mix of market-leading marquee entertainment properties. Our local business owns and operates 242 radio stations, over 250 companion websites, an e-commerce business (SeizeTheDeal.com), and approximately 500 annual live events in 51 small and medium-sized markets across the country. Our national business owns and operates leading music and entertainment-focused digital properties including TasteofCountry.com, Loudwire.com, ScreenCrush.com, and Guyspeed.com; several leading multi-day music festivals, including Mountain Jam and the Taste of Country Music Festival; a digital advertising network which reaches over 50 million unique visitors monthly; and a marketing services business which provides a turnkey web presence for small and medium-sized businesses. We also operate Townsquare Cares, a non-profit organization dedicated to helping our troops and their families. Funds managed by Oaktree Capital Management are the Company’s largest shareholder