Townsquare Becomes an Instant Player in Maine Radio
On April 30, Townsquare Media of Greenwich, Conn., became a major factor in Maine radio. Townsquare, which specializes in small and medium markets, bought twelve stations in Bangor, Augusta and Presque Isle from Cumulus Media.
The total deal actually involved Townsquare buying fifty-five stations in eleven markets across the country. In return, Cumulus got ten stations in Illinois and $116 million.
In Bangor, Townsquare now owns country giant WQCB (106.5 FM), that market’s dominant station. It also acquired WWMJ (95.7 FM) and WBZN (107.3 FM), both among the Bangor leaders in the most recent Arbitron ratings, as well as WEZQ (92.9 FM) and WDEA (1370 AM).
In Augusta, Townsquare gets number one-rated WEBB (98.5 FM) and number two-rated WMME (92.3 FM), along with WJZN (1490 AM) and WTVL (1400 AM).
It’s Presque Isle holdings now include WOZI (101.9 FM), WBPW (96.9 FM) and WQHR (96.1 FM). The Presque Isle market isn’t rated by Arbitron.
Cumulus won’t vanish from Maine. The company, which said the sale was part of its effort to concentrate on larger markets, plans, at least for now, to hold on to its Portland stations, including the top commercial station WJBQ (97.9 FM), as well as WBLM (102.9 FM), WCYY (94.3 FM) and WHOM (94.9 FM).
Al Diamon can be emailed at email@example.com.