NEW YORK, Feb. 18, 2025 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO):
WHAT:
Travelzoo, the club for travel enthusiasts, will host a conference call to discuss the Company’s financial results for the fourth quarter ended December 31, 2024. Travelzoo will issue a press release reporting its results before the market opens on February 25, 2025.
WHEN:
February 25, 2025 at 11:00 AM ET
HOW:
A live webcast of Travelzoo’s Q4 2024 earnings conference call can be accessed athttp://ir.travelzoo.com/events-presentations. The webcast will be archived within 2 hours of the end of the call and will be available through the same link.
CONTACT:
Travelzoo Investor Relations
ir@travelzoo.com
About Travelzoo We, Travelzoo®, are the club for travel enthusiasts. We reach 30 million travelers. Club Members receive Club Offers personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with thousands of top travel suppliers—our long-standing relationships give us access to irresistible deals.
Luxembourg, Grand Duchy of Luxembourg, February 13, 2025 (GLOBE NEWSWIRE) – Codere Online Luxembourg, S.A. (Nasdaq: CDRO / CDROW) (the “Company” or “Codere Online”), a leading online gaming operator in Spain and Latin America, today announced that, by letter received on February 12, 2025, the Nasdaq Hearings Panel (the “Panel”) of The Nasdaq Stock Market LLC (“Nasdaq”) has determined to grant the Company’s request to continue its listing on Nasdaq, subject to the Company filing its annual report on Form 20-F for the year ended December 31, 2023 (the “2023 Annual Report”) on or before May 12, 2025.
The Panel’s determination follows a hearing on January 16, 2025, at which the Panel considered the Company’s plan to regain compliance with Listing Rule 5250(c)(1) (the “Rule”). The Company has and continues to work diligently with its new auditor to complete and file with the Securities and Exchange Commission (“SEC”) its 2023 Annual Report and expects to do so within the extension period granted by the Panel, thereby regaining compliance with the Rule.
Following this positive development, the Company will release its fourth quarter 2024 results prior to 8:30AM US Eastern Time on Thursday, February 20, 2025. At 8:30AM US Eastern Time on the same day, Codere Online’s management will host a conference call to discuss the results and provide a business update.
The Company’s earnings press release and presentation will be available on Codere Online’s website at www.codereonline.com. Dial-in details for the conference call as well as the audio webcast registration link are accessible on the Events & Presentations section of the website. A recording of the webcast will be available following the conference call.
About Codere Online
Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online, launched in 2014 as part of the renowned casino operator Codere Group, offers online sports betting and online casino through its state-of-the art website and mobile applications. Codere Online currently operates in its core markets of Spain, Mexico, Colombia, Panama and Argentina; this online business is complemented by Codere Group’s physical presence in Spain and throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence.
Forward-Looking Statements Certain statements in this press release may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the Company or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, including the Company’s expectations about the timing of completion and filing of the 2023 Annual Report, statements related to the Company’s plan, timing and actions taken to regain compliance with the Rule.
These forward-looking statements are based on information available as of the date of this document and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the Company’s or its management team’s views as of any subsequent date, and the Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
As a result of a number of known and unknown risks and uncertainties, the Company’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. There may be additional risks that the Company does not presently know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Additional information concerning certain of these and other risk factors is contained in Codere Online’s filings with the SEC. All subsequent written and oral forward-looking statements concerning Codere Online or other matters attributable to Codere Online or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
Contacts:
Investors and Media Guillermo Lancha Director, Investor Relations and Communications Guillermo.Lancha@codereonline.com (+34) 628.928.152
LIMASSOL, Cyprus, Feb. 13, 2025 (GLOBE NEWSWIRE) — GDEV Inc. (NASDAQ: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), today announced the appointment of Andrey Fadeev, GDEV’s founder and CEO and a member of the Company’s Board of Directors (the “Board”), as Chairperson of the Board, effective immediately. This appointment represents a strategic evolution in the Company’s leadership structure, designed to strengthen the alignment between strategic oversight and operational execution. As part of this planned transition, Natasha Braginsky Mounier, an independent non-executive director and chairperson of the Board will step down from her position as Independent Chairperson and depart from the Board. Ms. Braginsky Mounier will receive a severance payment from the Company, compensating her for her services as Chairperson and director of the Board for the term beginning with the last annual general meeting of the Company’s shareholders.
The Board will maintain its independent majority, with three out of five directors continuing to serve as independent members, continuing to adhere to best practices for corporate governance and oversight of the Company’s operations. Ms. Braginsky Mounier’s membership positions on the GDEV Board’s Committees will, by resolution of the Board, be reassigned among its current independent members: Tal Shoham, who is able to read and understand fundamental financial statements in accordance with Nasdaq audit committee requirements, will take her place on the Audit Committee, while Marie Holive will join the Nomination and Compensation Committee.
“This is an exciting new chapter for GDEV as we continue to execute on our strategic vision and drive growth across our portfolio of studios,” said Andrey Fadeev, CEO, founder and newly appointed Chairperson of GDEV. “By aligning Board leadership more closely with our operational expertise, we are well-positioned to accelerate decision-making and capitalize on market opportunities while maintaining the highest standards of corporate governance.”
Mr. Fadeev continued: “On behalf of the Board of Directors and management team of GDEV, I would like to express our deep appreciation to Ms. Braginsky Mounier for her exemplary leadership and invaluable contributions during her tenure as Independent Chairperson. Under her guidance, GDEV has significantly strengthened its corporate governance framework, enhanced board effectiveness, and established robust oversight practices that will continue to benefit the Company for years to come. Ms. Braginsky Mounier’s dedication to promoting transparency and accountability has helped create a strong foundation for GDEV’s next phase of growth.”
The Company remains committed to maintaining open and transparent communication with its stakeholders, as the Board continues to prioritize long-term, sustainable growth while upholding the highest standards of corporate governance and oversight.
About GDEV GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 bln of bookings worldwide. For more information, please visit www.gdev.inc
Contacts: Investor Relations Roman Safiyulin | Chief Corporate Development Officer investor@gdev.inc
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2023 Annual Report on Form 20-F, filed by the Company on April 29, 2024, and other documents filed by the Company from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
RICHMOND, Va.–(BUSINESS WIRE)– Lucky Strike Entertainment (NYSE: LUCK), one of the world’s premier operators of location-based entertainment, today provided financial results for the second quarter of the 2025 Fiscal Year, which ended on December 29, 2024.
Quarter Highlights:
Revenue decreased 1.8% to $300.1 million from $305.7 million in the previous year
Same Store Revenue decreased 6.2% versus the prior year
Net income of $28.3 million versus prior year loss of $63.5 million
Adjusted EBITDA of $98.8 million versus $103.1 million in the prior year
From September 30, 2024 through February 5, 2025, opened four new builds and acquired one bowling location, six family entertainment centers and one water park. Total locations in operation as of February 5, 2025 is 364
“This most recent quarter came with heightened macroeconomic uncertainty. We began the quarter with the corporate events business on hold due to concerns over the election outcome. Compounding this was Thanksgiving falling later in the year, shortening the corporate holiday events window by about a third. And finally, New Year’s Eve fell into our next quarter vs being in the second quarter last year. Our sticky leagues business continued to grow, and retail walk-in customer traffic has been steady despite headlines of the weak consumer,” said Founder, Chairman, and CEO Thomas Shannon. “During this quarter, we opened four new Lucky Strike centers—two in Denver, one in the heart of Beverly Hills, and one in Ladera Ranch, California. Lucky Strike Beverly Hills and Lucky Strike Ladera Ranch each generated over $1 million in revenue within their first 30 days of operation. They represent an evolution of our best-in-class product that underscores our position as leaders in consumer entertainment. We also began the rebranding of centers to Lucky Strike, with four centers converted to date and the rollout ramping up.”
“In the quarter, we acquired Boomer’s which added six family entertainment centers and one stunning water park to our portfolio. Those assets operate at losses during the winter periods and generate significant cash flow during the summer months. We look forward to incremental earnings during our seasonally slow Fourth and First quarters,” said Bobby Lavan, Chief Financial Officer.
Share Repurchase and Capital Return Program Update
From September 30, 2024 through January 31, 2025, the Company repurchased 5.1 million shares of Class A common stock for approximately $56 million. The company has $101 million currently remaining under the share repurchase program.
The Board of Directors declared a quarterly cash dividend of $0.055 per share of common stock for the second quarter of fiscal year 2025. The dividend will be payable on March 7, 2025, to stockholders of record on February 21, 2025.
Fiscal Year 2025 Guidance
The Company reiterated financial guidance for fiscal year 2025. We expect total Revenue to be up mid-single digits to 10%+ year-over-year, which equates to $1.23 billion to $1.28 billion of total Revenue. Adjusted EBITDA margin is expected to be 32% to 34%, which equates to Adjusted EBITDA of $390 million to $430 million.
Investor Webcast Information
Listeners may access an investor webcast hosted by Lucky Strike Entertainment. The webcast and results presentation will be accessible at 10:00 AM ET on February 5, 2025 in the Events & Presentations section of the Lucky Strike Entertainment Investor Relations website at https://ir.luckystrikeent.com/overview/default.aspx.
About Lucky Strike Entertainment
Lucky Strike Entertainment is one of the world’s premier location-based entertainment platforms. With over 360 locations across North America, Lucky Strike Entertainment provides experiential offerings in bowling, amusements, water parks, and family entertainment centers. The company also owns the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Lucky Strike Entertainment, please visit IR.LuckyStrikeEnt.com.
Forward Looking Statements
Some of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risk, assumptions and uncertainties, such as statements of our plans, objectives, expectations, intentions and forecasts. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “confident,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and, in each case, their negative or other various or comparable terminology. These forward-looking statements reflect our views with respect to future events as of the date of this release and are based on our management’s current expectations, estimates, forecasts, projections, assumptions, beliefs and information. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. All such forward-looking statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document. It is not possible to predict or identify all such risks. These risks include, but are not limited to: our ability to design and execute our business strategy; changes in consumer preferences and buying patterns; our ability to compete in our markets; the occurrence of unfavorable publicity; risks associated with long-term non-cancellable leases for our locations; our ability to retain key managers; risks associated with our substantial indebtedness and limitations on future sources of liquidity; our ability to carry out our expansion plans; our ability to successfully defend litigation brought against us; our ability to adequately obtain, maintain, protect and enforce our intellectual property and proprietary rights and claims of intellectual property and proprietary right infringement, misappropriation or other violation by competitors and third parties; failure to hire and retain qualified employees and personnel; the cost and availability of commodities and other products we need to operate our business; cybersecurity breaches, cyber-attacks and other interruptions to our and our third-party service providers’ technological and physical infrastructures; catastrophic events, including war, terrorism and other conflicts; public health emergencies and pandemics, such as the COVID-19 pandemic, or natural catastrophes and accidents; changes in the regulatory atmosphere and related private sector initiatives; fluctuations in our operating results; economic conditions, including the impact of increasing interest rates, inflation and recession; and other factors described under the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) by the Company on September 5, 2024, as well as other filings that the Company will make, or has made, with the SEC, such as Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. We expressly disclaim any obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.
Non-GAAP Financial Measures
To provide investors with information in addition to our results as determined under Generally Accepted Accounting Principles (“GAAP”), we disclose Revenue Excluding Service Fee Revenue, Total Location Revenue, Same Store Revenue and Adjusted EBITDA as “non-GAAP measures”, which management believes provide useful information to investors because each measure assists both investors and management in analyzing and benchmarking the performance and value of our business. Accordingly, management believes that these measurements are useful for comparing general operating performance from period to period, and management relies on these measures for planning and forecasting of future periods. Additionally, these measures allow management to compare our results with those of other companies that have different financing and capital structures. These measures are not financial measures calculated in accordance with GAAP and should not be considered as a substitute for revenue, net income, or any other operating performance or liquidity measure calculated in accordance with GAAP, and may not be comparable to a similarly titled measure reported by other companies. Our fiscal year 2025 guidance measures (other than revenue) are provided on a non-GAAP basis without a reconciliation to the most directly comparable GAAP measure because the Company is unable to predict with a reasonable degree of certainty certain items contained in the GAAP measures without unreasonable efforts. For the same reasons, the Company is unable to address the probable significance of the unavailable information. Such items include, but are not limited to, acquisition related expenses, share-based compensation and other items not reflective of the company’s ongoing operations.
Revenue Excluding Service Fee Revenue represents total Revenue less Service Fee Revenue. Total Location Revenue represents total Revenue less Non-Location Related Revenue, Revenue from Closed Locations, and Service Fee Revenue, if applicable. Same Store Revenue represents total Revenue less Non-Location Related Revenue, Revenue from Closed Locations, Service Fee Revenue, if applicable, and Acquired Revenue. Adjusted EBITDA represents Net Income (Loss) before Interest Expense, Income Taxes, Depreciation and Amortization, Impairment and Other Charges, Share-based Compensation, EBITDA from Closed Locations, Foreign Currency Exchange Loss (Gain), Asset Disposition Loss (Gain), Transactional and other advisory costs, changes in the value of earnouts, and other.
The Company considers Revenue Excluding Service Fee Revenue as an important financial measure because it provides a financial measure of revenue directly associated with consumer discretionary spending and Total Location Revenue as an important financial measure because it provides a financial measure of revenue directly associated with location operations. The Company also considers Same Store Revenue as an important financial measure because it provides comparable revenue for locations open for the entire duration of both the current and comparable measurement periods.
The Company considers Adjusted EBITDA as an important financial measure because it provides a financial measure of the quality of the Company’s earnings. Other companies may calculate Adjusted EBITDA differently than we do, which might limit its usefulness as a comparative measure. Adjusted EBITDA is used by management in addition to and in conjunction with the results presented in accordance with GAAP. We have presented Adjusted EBITDA solely as a supplemental disclosure because we believe it allows for a more complete analysis of results of operations and assists investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP. Some of these limitations are that Adjusted EBITDA:
do not reflect every expenditure, future requirements for capital expenditures or contractual commitments;
do not reflect changes in our working capital needs;
do not reflect the interest expense, or the amounts necessary to service interest or principal payments, on our outstanding debt;
do not reflect income tax (benefit) expense, and because the payment of taxes is part of our operations, tax expense is a necessary element of our costs and ability to operate;
do not reflect non-cash equity compensation, which will remain a key element of our overall equity based compensation package; and
do not reflect the impact of earnings or charges resulting from matters we consider not to be indicative of our ongoing operations.
Lucky Strike Entertainment Corporation Investor Relations IR@LSEnt.com
Purchase, NY – January 27, 2025 – Townsquare Media, Inc. (NYSE: TSQ), a leader in digital advertising and marketing solutions focused on markets outside of the Top 50 in the United States, announced today a strategic digital advertising partnership with Steel City Media, a multi-media company with market-leading media outlets in Pittsburgh and Kansas City. Townsquare teased this partnership in the pre-release of their estimated 2024 financial results last week.
“We could not be more excited to have the talented team at Steel City Media join our partnership program. They will now be able to leverage Townsquare Ignite’s cutting-edge digital advertising and marketing solutions to their expansive customer base, which importantly exists in markets that do not compete with ours,” said Todd Lawley, President of Townsquare Ignite, the Company’s Digital Advertising division. “Our expertise is coaching and training high performing broadcast sales teams to leverage our proprietary programmatic advertising platform and data-driven insights to deliver exceptional results for their clients. By sharing our proven strategies and dynamic approach, we look forward to helping Steel City strengthen their digital capabilities, driving growth and measurable success for their clients.”
Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for SMBs; a robust digital advertising division, Townsquare IGNITE, a powerful combination of a) an owned and operated portfolio of more than 400 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 345 local terrestrial radio stations in 74 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com and NJ101.5.com, and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com, and Loudwire.com. For more information, please visit www.townsquaremedia.com, www.townsquareinteractive.com, and www.townsquareignite.com.
RICHMOND, Va.–(BUSINESS WIRE)– Lucky Strike Entertainment (NYSE: LUCK), one of the world’s premier operators of location-based entertainment, will report financial results for the second quarter of fiscal 2025 on Wednesday, February 5, 2025, before the U.S. stock market opens. Management will discuss the results via webcast at 10:00 AM ET on the same day.
The live webcast, replay, and results presentation will be available in the Events & Presentations section of the Lucky Strike Entertainment Investor Relations website at IR.LuckyStrikeEnt.com.
About Lucky Strike Entertainment
Lucky Strike Entertainment is one of the world’s premier location-based entertainment platforms. With over 360 locations across North America, Lucky Strike Entertainment provides experiential offerings in bowling, amusements, water parks, and family entertainment centers. The company also owns the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Lucky Strike Entertainment, please visit IR.LuckyStrikeEnt.com.
Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for approximately 26,800 SMBs; a robust digital advertising division, Townsquare IGNITE, a powerful combination of a) an owned and operated portfolio of more than 330 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data, and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 321 local terrestrial radio stations in 67 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com, and NJ101.5.com and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com and Loudwire.com.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Preliminary Q4 results. The company announced preliminary Q4 results that were in-line with previously issued guidance. The company expects Q4 revenue to be in the range of $117 million – $119 million and adj. EBITDA to be approximately $31 million. Notably, the company’s digital segment is expected to increase revenue by 11% over the comparable year-earlier period.
In line results. The Q4 preliminary results exceed our revenue estimate of $115.0 million, and our adj. EBITDA estimate of $30.4 million. Preliminary results and our Q4 and full year 2024 forecasts are illustrated in Figure #1 & Figure #2, respectively.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
PURCHASE, N.Y., Jan. 21, 2025 (GLOBE NEWSWIRE) — Townsquare Media, Inc. (NYSE: TSQ) (“Townsquare”, the “Company,” “we,” “us,” or “our”) announced today preliminary estimated financial results for the fourth quarter and full year ended December 31, 2024.
“We are pleased to pre-announce our fourth quarter and full year 2024 estimated results that are directly in-line with the expectations and guidance we had previously outlined on our third quarter earnings call. We expect full year net revenue will be between $450 million and $452 million, within our guidance range of $448 million to $452 million. Therefore, we expect fourth quarter net revenue will be between $117 million and $119 million. In addition, we expect full year 2024 Adjusted EBITDA will be approximately $100 million, within our guidance range of $100 million to $101 million. Therefore, we expect fourth quarter Adjusted EBITDA will be approximately $31 million,” commented Bill Wilson, Chief Executive Officer of Townsquare Media, Inc. “As anticipated, our digital divisions had a very strong fourth quarter, as Townsquare Interactive returned to year-over-year revenue growth, and Digital Advertising net revenue accelerated to year-over-year growth rates in excess of +15%, helped by national digital advertising returning to revenue growth together with ongoing strength in our digital programmatic business. In total, we expect fourth quarter Digital revenue to increase approximately +11% year-over-year, and represent 52% of Townsquare’s net revenue in 2024, a true point of differentiation from others in local media, as we have evolved from a local broadcast radio company that was founded in 2010, to a Digital First Local Media Company with a world class team and a unique and differentiated strategy, assets, platforms and solutions. Further, we could not be more pleased to share that we are continuing to expand our Media Partnerships division, whereby we provide a white-label service that equips other local media companies with the digital advertising solutions that have driven Townsquare’s success. Following our October 2024 announcement that we partnered with SummitMedia, who operates in nine markets that do not overlap with Townsquare’s footprint, we have recently entered an agreement with another local media provider who operates in two additional non-overlapping markets. We expect that partnership to launch this summer.”
Mr. Wilson continued, “Given the cash generative nature of our business and our strong cash position, we were able to repurchase and retire approximately $12 million of our Senior Secured Notes in the fourth quarter (and $36 million in total in 2024), ending the year with $467 million of debt and $33 million of cash on hand. The combination of our healthy balance sheet, ongoing digital strength and momentum, Digital First Local Media strategy, and focus on markets outside of the Top 50 U.S. cities, reinvigorates my confidence in our business model and our path to long-term, sustainable growth and success.”
The information presented herein is based on internally available financial information that has not been audited or subject to regular period end closing procedures. As such, the financial guidance presented above reflects various assumptions and estimates based only upon information available to management as of the date hereof. This information should not be viewed as a substitute for full audited financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). As a result, while this information is presented with ranges and approximations that management considers to be reasonable, it remains in all cases subject to change pending finalization. It is very difficult to predict the impact of known factors and it is impossible for the Company to anticipate all factors that could affect its actual results. Actual results may differ materially from the estimates presented above due to developments or other information that may arise between now and the time the financial results for the fourth quarter and fiscal year are finalized. Therefore, you should not place undue reliance on estimated financial information provided herein, which speaks only as of the date hereof. Estimates of results are inherently uncertain and subject to change, and the Company does not undertake any obligation to update this information. The Company’s independent registered public accounting firm, BDO USA, P.C., has not audited, reviewed, compiled or performed any procedures with respect to any of the estimated financial information. Accordingly, BDO USA, P.C. does not express an opinion or any other form of assurance with respect thereto. The preliminary estimated financial information for the quarter and year ended December 31, 2024 is not necessarily indicative of the results to be achieved in any future period.
About Townsquare Media, Inc.
Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for SMBs; a robust digital advertising division, Townsquare Ignite, a powerful combination of a) an owned and operated portfolio of more than 400 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 345 local terrestrial radio stations in 74 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com and NJ101.5.com, and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com, and Loudwire.com. For more information, please visit www.townsquaremedia.com, www.townsquareinteractive.com and www.townsquareignite.com.
Forward-Looking Statements Except for the historical information contained in this press release, the matters addressed are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often discuss our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “aim,” “anticipate,” “estimate,” “expect,” “forecast,” “outlook,” “potential,” “project,” “projection,” “plan,” “intend,” “seek,” “believe,” “may,” “could,” “would,” “will,” “should,” “can,” “can have,” “likely,” the negatives thereof and other words and terms. Actual events or results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors. While it is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by us include the impact of general economic conditions in the United States, or in the specific markets in which we currently do business including supply chain disruptions, inflation, labor shortages and the effect on advertising activity, industry conditions, including existing competition and future competitive technologies, the popularity of radio as a broadcasting and advertising medium, cancellations, disruptions or postponements of advertising schedules in response to national or world events, our ability to develop and maintain digital technologies and hire and retain technical and sales talent, our dependence on key personnel, our capital expenditure requirements, our continued ability to identify suitable acquisition targets, and consummate and integrate any future acquisitions, legislative or regulatory requirements, risks and uncertainties relating to our leverage and changes in interest rates, our ability to obtain financing at times, in amounts and at rates considered appropriate by us, our ability to access the capital markets as and when needed and on terms that we consider favorable to us and other factors discussed in “Risk Factors” and “Forward-Looking Statements” in our 2023 Annual Report on Form 10-K, for the year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) on March 15, 2024, as well as other risks discussed from time to time in our filings with the SEC. Many of these factors are beyond our ability to predict or control. In addition, as a result of these and other factors, our past financial performance should not be relied on as an indication of future performance. The cautionary statements referred to in this section also should be considered in connection with any subsequent written or oral forward-looking statements that may be issued by us or persons acting on our behalf. The forward-looking statements included in this press release are made only as of the date hereof or as of the date specified herein. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Non-GAAP Financial Measures and Definitions In this press release, we refer to Adjusted EBITDA, which is a financial measure that has not been prepared in accordance with GAAP.
We define Adjusted EBITDA as net income before the deduction of income taxes, interest expense, net, gain on repurchases of debt, transaction and business realignment costs, depreciation and amortization, stock-based compensation, impairments, net loss (gain) on sale and retirement of assets and other expense (income) net. This measure does not represent, and should not be considered as an alternative to or superior to, financial results and measures determined or calculated in accordance with GAAP. In addition, this non-GAAP measure is not based on any comprehensive set of accounting rules or principles. You should be aware that in the future we may incur expenses or charges that are the same as or similar to some of the adjustments in the presentation, and we do not infer that our future results will be unaffected by unusual or non-recurring items. In addition, this non-GAAP measure may not be comparable to similarly-named measures reported by other companies. Net income, the most directly comparable GAAP measure to Adjusted EBITDA, and a reconciliation of Adjusted EBITDA to net income are not included herein because we are not able to estimate certain components of these measures without unreasonable effort. In addition, the Company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. The variability of the specified items may have a significant and unpredictable impact on our future GAAP results.
We use Adjusted EBITDA to facilitate company-to-company operating performance comparisons by backing out potential differences caused by variations in capital structures (affecting interest expense), taxation and the age and book depreciation of facilities and equipment (affecting relative depreciation expense), which may vary for different companies for reasons unrelated to operating performance. We believe that this measure, when considered together with our GAAP financial results, provides management and investors with a more complete understanding of our business operating results, including underlying trends, by excluding the effects of transaction costs, net loss (gain) on sale and retirement of assets, business realignment costs and certain impairments. Further, while discretionary bonuses for members of management are not determined with reference to specific targets, our board of directors may consider Adjusted EBITDA when determining discretionary bonuses.
The potential sale of TikTok’s U.S. operations is making waves across the business and investment community. With an estimated valuation of $40 billion to $50 billion, TikTok represents a significant opportunity and challenge for prospective buyers and investors. ByteDance’s consideration of selling TikTok’s U.S. unit is rooted in geopolitical tensions and national security concerns, making the situation both complex and impactful for markets.
Key Highlights of the Sale Scenario
Valuation and User Base: TikTok boasts a U.S. monthly mobile user base of 115 million, surpassing platforms like Snapchat and Pinterest, but trailing Instagram. This broad user base underpins its projected $50 billion valuation, though geopolitical issues and the absence of its proprietary recommendation algorithm in any sale could weigh on its appeal.
Potential Buyers: Among those reportedly interested are Elon Musk, whose acquisition would likely face intense regulatory scrutiny, and a consortium led by billionaire Frank McCourt and Kevin O’Leary, who estimate a lower bid of $20 billion.
Regulatory and Geopolitical Risks: The Supreme Court’s pending decision on banning TikTok in the U.S. and the Biden administration’s national security concerns pose significant uncertainties. These factors could impact valuations and the terms of any deal.
For investors, TikTok’s potential sale and the broader regulatory environment present both opportunities and risks:
Advertising Revenue Growth: TikTok has quickly become a dominant force in digital advertising. Companies expanding their ad spend on social platforms might find TikTok, under new ownership, a critical avenue for growth. A buyer capable of navigating regulatory concerns could unlock further advertising revenue potential, benefiting both private equity investors and public markets.
Impact on Competitors: Platforms like Instagram, Snapchat, and Pinterest might experience shifts in user engagement and ad revenue depending on the outcome of TikTok’s sale or a potential U.S. ban. Stock prices of these competitors could be directly affected by how TikTok’s future plays out.
Public Market Opportunities: If TikTok’s U.S. operations were to go public under a new owner, investors could gain direct exposure to one of the fastest-growing social media platforms. However, this would depend on resolving regulatory and national security concerns.
Regulatory Oversight: Heightened scrutiny of data privacy and national security may impact other tech companies reliant on foreign ownership or data-driven business models. This could lead to increased regulatory risks across the sector, affecting valuations and investor sentiment.
A forced sale of TikTok would send ripples through the broader market. Media and tech companies may see volatility as they adjust to potential competitive shifts, while private equity firms and institutional investors eye strategic opportunities.
Moreover, any large-scale acquisition of TikTok could spur merger and acquisition (M&A) activity in the tech sector, as companies reconfigure their strategies to align with changing market dynamics.
The fate of TikTok’s U.S. operations holds significant implications for investors, social media companies, and the stock market. Whether ByteDance chooses to sell or the Supreme Court enforces a ban, the outcome will shape the competitive landscape of digital media and advertising. For investors, the situation underscores the importance of monitoring regulatory developments, evaluating sector-specific risks, and being prepared to act on emerging opportunities.
As the story unfolds, it will not only test TikTok’s resilience but also provide valuable lessons for navigating geopolitical and regulatory challenges in today’s interconnected global markets.
Saga Communications, Inc. is a broadcast company whose business is primarily devoted to acquiring, developing and operating radio stations. Saga currently owns or operates broadcast properties in 27 markets, including 79 FM and 33 AM radio stations. Saga’s strategy is to operate top billing radio stations in mid sized markets, defined as markets ranked (by market revenues) from 20 to 200. Saga’s radio stations employ a myriad of programming formats, including Active Rock, Adult Album Alternative, Adult Contemporary, Country, Classic Country, Classic Hits, Classic Rock, Contemporary Hits Radio, News/Talk, Oldies and Urban Contemporary. In operating its stations, Saga concentrates on the development of strong decentralized local management, which is responsible for the day-to-day operations of the stations in their market area and is compensated based on their financial performance as well as other performance factors that are deemed to effect the long-term ability of the stations to achieve financial objectives. Saga began operations in 1986 and became a publicly traded company in December 1992. The stock trades on NASDAQ under the ticker symbol “SGA”.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Recent weak stock performance. The SGA shares are down roughly 24% over the past six months and nearly 50% over the past year to near current levels. The performance is in line with its peer group, which is down approximately 45% over the past year. We believe that investors have thrown the baby out with the bath water, given that SGA has virtually no debt, unlike its highly debt levered peers, and has better revenue and cash flow growth potential.
Increased stake. Given the recent stock performance, Gate City Capital Management, LLC, a micro-cap focused investment firm, announced on January 8 that it nearly doubled its position during December 2024. Gate City Capital Management, LLC now owns 863,845 shares or approximately 13.8% of the total outstanding shares.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Key Points: – Disney to control 70% of combined streaming entity worth over $6 billion – Merger creates 6.2 million subscriber base across North America – Deal settles antitrust litigation and reshapes sports streaming landscape
The streaming TV landscape shifted dramatically today as Disney announced plans to merge its Hulu + Live TV business with sports-focused FuboTV, creating a powerhouse that will reshape how millions of Americans consume live content. The deal, which gives Disney a 70% controlling stake in the combined entity, marks 2025’s first major media consolidation.
The merger creates one of the largest digital pay-TV providers in North America, with over 6.2 million subscribers and projected revenue exceeding $6 billion. Under the agreement, the combined business will operate under the Fubo publicly traded company name, with current Fubo shareholders retaining 30% ownership.
David Gandler, Fubo’s co-founder and CEO, who will lead the new entity, emphasized the strategic benefits of increased scale. The merger provides Fubo with immediate access to $220 million in cash, plus an additional $145 million in committed financing available in January 2026, strengthening its position for future growth and investment.
The deal notably resolves Fubo’s ongoing antitrust litigation with Disney, Fox, and Warner Bros. Discovery regarding the Venu Sports platform. This settlement removes a significant obstacle to the planned sports streaming service and positions the combined company to offer more flexible content packages to consumers.
The merger addresses several key challenges in the streaming landscape. For Fubo, which has struggled with high content costs and subscriber churn, the partnership provides crucial financial stability and enhanced content access, including ESPN+ through new distribution agreements. For Disney, the deal strengthens its position in the increasingly competitive streaming market while expanding its reach in sports content delivery.
Looking ahead, the combined company plans to maintain distinct service offerings. Hulu + Live TV will continue its focus on entertainment-based cable replacement, while Fubo will expand its sports and news offerings. Gandler highlighted the potential for creating “skinnier” bundles tailored to specific consumer preferences, addressing a long-standing market demand for more flexible viewing options.
The market has responded positively to the announcement, with Fubo’s shares surging nearly 250% following the news. The combination is expected to achieve immediate positive cash flow, addressing previous profitability concerns in the streaming sector.
This strategic merger represents a significant evolution in the streaming industry’s maturation, potentially setting the stage for further consolidation as providers seek scale and profitability in an increasingly competitive market. The deal’s success could provide a blueprint for future media partnerships aimed at balancing content costs, subscriber growth, and sustainable business models.
The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating a better-informed world. As one of the nation’s largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of 61 stations in 41 markets. The Scripps Networks reach nearly every American through the national news outlets Court TV and Newsy and popular entertainment brands ION, Bounce, Defy TV, Grit, ION Mystery, Laff and TrueReal. Scripps is the nation’s largest holder of broadcast spectrum. Scripps runs an award-winning investigative reporting newsroom in Washington, D.C., and is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps has held for decades to the motto, “Give light and the people will find their own way.”
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Asset Sale. On December 30, the company completed the sale of its San Diego Tower sites to K2 Towers for $20 million and entered into tower space leases with the buyer for $1 million annually. We view the sale as a favorable step toward the company’s asset monetization strategy. The proceeds from the sales is expected to be used to pare down debt.
Asset monetization. Prior to the asset sale announcement, management highlighted that it had letters of intent for roughly $60 million in real estate transactions and is still shopping Bounce, a leading Over The Air (OTA) broadcast network. Notably, we believe Bounce could be worth more than $150 million. We believe that a sale of Bounce could be announced in the first half 2025.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for approximately 26,800 SMBs; a robust digital advertising division, Townsquare IGNITE, a powerful combination of a) an owned and operated portfolio of more than 330 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data, and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 321 local terrestrial radio stations in 67 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com, and NJ101.5.com and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com and Loudwire.com.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Digital revenue trends are improving. On December 4, Stu Rosenstein, CFO, presented at NobleCon20 at Florida Atlantic University (FAU) in Boca Raton, Florida, to the investment community. A replay of the presentation can be viewed here. Notably, we believe the company’s digital businesses are gaining momentum, and we anticipate an acceleration of revenue growth for Ignite and a swing towards positive growth for Interactive.
Townsquare Interactive posed to turn the corner toward revenue growth. Notably, the company’s Interactive business has been experiencing improving revenue trends and net subscriber growth throughout 2024. Furthermore, we believe the interactive business has turned the corner in Q3 and will swing towards positive revenue growth in Q4.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
