Townsquare Media completes roll-up of GAP


Friday the 13th brought big changes to Townsquare Media, as it officially completed its acquisition of GAP Broadcasting and GAP West Broadcasting. All have been majority owned by Oaktree Capital Management, so the deal was essentially a roll-up of three entities into one.

Former GAP West President Erik Hellum and GAP President George Laughlin have joined Townsquare Media as Senior Vice Presidents overseeing the company’s two divisions (West and Central) and will report to Townsquare Media Chairman and CEO Steven Price. 

“The acquisition of GAP represents another step in the process of transforming Townsquare Media into the local media business of the future.  With this transaction, the company greatly expands its audience and advertiser reach.  New opportunities to capitalize on our scale are abundant,” said Price. “George and Erik bring a wealth of experience, talent, and energy and we are excited to welcome them to the team.  They will be an integral part of transforming our company into a new type of local media business.”

Townsquare is only a few months old, having been created to acquire the post-Chapter 11 assets of the former Regent Communications. In all, Townsquare now operates radio clusters in 36 markets.