Business News Deals Live Business

Madison Square Garden Company buys into US radio and events firm Townsquare

By | Published on Friday 19 August 2016

Madison Square Garden Company

The Madison Square Garden Company has taken a 12% stake in US media firm Townsquare, it has been confirmed, with plans for the two companies to seek strategic alliances moving forward.

MSG spun off its own TV and radio company, MSG Networks, into a standalone company just last year. Townsquare, meanwhile, owns 310 radio stations and 325 websites, including various music sites it has acquired in recent years.

Though it is possibly that it’s more Townsquare’s live events business – which includes a number of country music festivals – that is of my interest to the MSG company, which now has its core operations in venues and sport.

According to the Wall Street Journal, as well as MSG taking the equity stake in Townsquare, the two companies hope to “jointly explore marketing, sponsorship and booking opportunities”.