“The highlight of Townsquare Media’s third quarter was, without a doubt, the strength of our Local Marketing Solutions segment,” co-CEO Bill Wilson noted as the owner of radio stations and festival event marketing company revealed its Q3 earnings results.
That’s where the good news ends. Both net revenue and net income were down, and Townsquare missed Street estimates with its disappointing report.
The reason has nothing to do with its radio stations, and a big corporate review is underway that could see Townsquare become a radio pure-play.
