Townsquare Media, which owns four Utica/Rome radio stations, is increasing the size of its footprint in upstate New York. The company announced today plans to acquire most of Double O Radio, a company which owns more than two dozen radio stations in five states. That portfolio include 10 stations in and around Oneonta.
News of the deal was first reported by Radio-Info.com this morning. That website says Pilot Group, a major investor in Double O, will become a minority partner in Townsquare. The larger company says it expects the deal to close in the fourth quarter of this year.
According to Wikipedia, Double O's stations in New York State include the following:
Although Oneonta and Norwich are located within Nielsen's boundaries for the Utica television market and the other three communities are located within the Binghamton TV market, neither Otsego County nor Delaware County are considered part of any Arbitron radio market. As a result, the deal isn't expected to raise any red flags at the FCC, at least not for anything related to market ownership caps. In addition to its four Utica/Rome stations, Townsquare also owns the former Regent clusters in Albany and Buffalo.
When the Double O acquisition is complete, Radio-Info points out that Townsquare will become the country's fourth largest radio station owner in terms of the number of stations owned. The new addition will bring Townsquare's tally to 191 stations in 40 markets.
Corrected at 8:45pm to clarify Townsquare is buying most of Double O Radio's properties, but not the entire company. Certain stations in various out-of-state markets are excluded from the deal.