Press Release

Seven Mountains Media is proud to announce the acquisition of Connoisseur Media’s Stroudsburg, Pennsylvania’s stations 93.5 WSBG and 840 WVPO.

In less than 5 years, Seven Mountains Media has acquired 41 signals serving seven markets in Pennsylvania and the Southern Tier of New York State. Owner and CEO Kristin Cantrell, is delighted with the rapid pace of growth and success across PA and NY. “We are honored and proud to continue the great tradition of radio by investing in our stations, our people and our towns, while also incorporating innovation and technology into every aspect of our operations. It is an exhilarating time to be in the radio business,” said Ms Cantrell.

Seven Mountains Media’s Chief Operating Officer, Jim Loftus said “WSBG and WVPO are heritage stations that will be a perfect fit into the 7MM family. As a lifelong Pennsylvania broadcaster and a resident of the Northern Poconos, I am thrilled to welcome these iconic stations and staff into Seven Mountains Media!”

Connoisseur Media CEO Jeffrey D. Warshaw said “With our Bridgeport/Allentown swap with Cumulus, we are pleased to find a local home for our Stroudsburg stations with a terrific broadcaster. We will miss the great people at these stations, but know they will be in good hands.”

Westport, CT – July 26, 2019 — Patrick Mendonca has been named Connoisseur Media of Maryland’s Digital Sales Manager. On May 20th, 2019, Connoisseur Media acquired the Frederick Maryland station from iHeartMedia. Shortly after, Patrick was promoted to Digital Sales Manager.

Patrick Mendonca is a tenured member of the team and has served in several roles at the station including on-air, marketing and promotions, and assisting the team with company-owned digital assets. Mendonca says, “I’m very excited about this opportunity and look forward to helping our clients and team achieve great success with their digital campaigns.”

Connoisseur Digital’s Vice President of Digital Sales, Robin Faller, is excited to welcome Mendonca to the team. Faller says, “Pat is incredibly bright and has always had an interest in Digital Marketing.  He is passionate about delivering best in class solutions to our clients to maximize their ROI.”

About Connoisseur Media

Connoisseur Media is headquartered in Westport, CT. Connoisseur owns/operates 23 radio stations in seven markets: Bridgeport, Stamford/Norwalk, and New Haven CT; Nassau-Suffolk (Long Island) NY; Frederick, MD, Stroudsburg-Wilkes-Barre, PA and Billings, MT.

Westport, CT – April 15, 2019 –4:00PM EST Connoisseur Media announced today that it has executed an asset exchange agreement with Cumulus Media Inc. whereby Connoisseur Media will acquire two stations in Southern Connecticut in exchange for four stations in and around Allentown, Pennsylvania.

The stations being acquired by Connoisseur Media are licensed to Westport (WEBE-FM) and Bridgeport (WICC-AM), Connecticut and the stations being traded to Cumulus Media are located in and around Allentown, Pennsylvania (WODE-FM, WWYY-FM, WEEX-AM, WTKZ-AM and translator W234AX). An LMA for the stations for each respective party will begin May 1, 2019. The exchange is expected to close in the third quarter of 2019, pending FCC approval.

“As a Connecticut-based company, this transaction represents an exceptional opportunity to continue to invest in the southern part of the state and will offer more ways for us to serve our listeners, clients and community,” commented Connoisseur Media CEO Jeffrey Warshaw. “As a resident of Westport, the home to WEBE 108, I am thrilled to add these legendary stations to our Connecticut operations.”

“As a lifelong Connecticut resident and the former General Sales Manager of WEBE/WICC, it is my privilege to lead these stations,” said Connoisseur Media SVP/Market Manager Kristin Okesson. “The combined reach of our portfolio will offer exciting opportunities for our partners and to the communities we serve. We are acquiring premier radio stations and a talented team which will allow us to expand our position in Fairfield County.”

Connoisseur Media has owned the Allentown stations being exchanged with Cumulus for the last six years. Connoisseur Media CEO Jeffrey Warshaw commented “We are very proud of our stations in Allentown and have a tremendous respect for their tradition of success and service to the community.” Connoisseur Media COO David Bevins added “We have terrific employees in Allentown and are sure they will carry that success to Cumulus.”

Connoisseur Media is headquartered in Westport, CT. Upon the closing of this asset exchange, and a previously announced asset exchange, Connoisseur Media will own and/or operate 23 radio stations in seven markets: Billings, MT; Bridgeport, Stamford/Norwalk and New Haven, CT; Nassau – Suffolk (Long Island), NY; Frederick, MD and Stroudsburg-Wilkes-Barre, PA.

On March 27th, 2019 iHeartMedia and the Aloha Trust announced a strategic station exchange with Connoisseur Media across two U.S. markets.

Under the agreement, iHeartMedia will acquire six radio stations from Connoisseur Media in Erie, Pennsylvania and one in Mina, New York and Connoisseur Media will acquire two stations from the Aloha Trust in Frederick, Maryland. The agreement is expected to close in the second quarter of 2019, subject to FCC consent and other customary closing conditions.

Under the agreement, WRTS-FM, WRKT-FM, WXBB-FM, WTWF-FM, WJET-AM and WFNN-AM in Erie and WLTM-FM in Mina will join iHeartMedia. These seven stations will also be available on iHeartRadio, the all-in-one digital music, on demand, podcasting and live streaming Radio service. Connoisseur Media will acquire WFRE-FM and WFMD-AM in Frederick from the Aloha Trust.

“iHeart is getting a remarkable team and an amazing array of brands. We have owned the stations for 13 years and have tremendous gratitude for the people of Erie. We are excited to enter the Frederick market with these legendary properties,” said Jeffrey Warshaw, CEO of Connoisseur Media. “We’re very pleased to have the opportunity to expand our reach and establish a presence in the Erie and Mina markets,” said Dan Lankford, Region President of Allentown/Harrisburg for iHeartMedia. “We can’t wait to add these seven amazing brands to our family of platforms, and we know that Connoisseur Media is looking forward to adding WFRE-FM and WFMD-AM to their company.”

Farmingdale, NY, October 30, 2018 – Connoisseur Media Long Island has appointed Rob Rush as Program Director, and Brian Orlando as Assistant Program Director, for WWSK (94.3 The Shark).

Rob Rush has been with the 94.3 FM frequency since December of 2003, and has served as Music Director for The Shark since August of 2017. A twenty year Radio veteran, Rush looks forward to continuing to shape the brand of The Shark, work with local organizations, and continue to move the brand ‘forward’ with both listeners and advertisers alike. “We’ll continue to be Everything That Rocks….and then some! I work with really awesome people, and we keep it grassroots, and are very involved with our listeners and the local communities we serve”.

Brian Orlando, 94.3 The Shark’s current morning show host, looks forward to taking on the additional responsibilities as Assistant Program Director. “94.3 The Shark has provided me the most and best opportunities of my career. I look at this as the next great adventure!”

The announcement was made by Jim Condron, SVP Regional Strategy/Market Manager, Long Island. “It is always a pleasure to be able to recognize and reward talents like Rob and Brian, both of these men live and breathe “The Shark”. We are very fortunate to have two such talented individuals expanding their roles with us.”

“It’s always exciting to see people rewarded for their passion and forward thinking. Rob and Orlando have long demonstrated that type of dedication. We are thrilled about their expanded roles working with Operations Manager Patrick Shea to execute and guide our brand strategy,” said Michelle Stevens, Connoisseur Media’s Director of Brand Management.

Connoisseur Media announced today that it has entered into an agreement with Townsquare Media, Inc. (NYSE: TSQ) who will purchase the company’s three radio stations in Trenton for approximately $17 million. The Acquisition will include leading CHR station WPST- FM.

Townsquare Co-Chief Executive Officer Dhruv Prasad commented, “We are very excited to announce the acquisition of these radio stations, particularly WPST, one of the Northeast’s most respected and highest-performing CHR stations. Combined with our market leading news/talk radio station based in Trenton, NJ 101.5, and our existing portfolio of ten other stations in the state of New Jersey, we believe these assets will enhance our ability to deliver high quality, engaging, local content and superior, multi-platform marketing solutions. This is the third strategic acquisition that we have announced within the past nine months, demonstrating our continuing commitment to investing capital at attractive values in our local media business.”

Ron deCastro, Market President/Chief Revenue Officer of Townsquare Trenton, added, “We are excited to welcome the talented Connoisseur New Jersey team to Townsquare. We respect their accomplishments and are excited to join forces with them to operate the leading Radio brands in the region. We will now have even more market-leading assets at our disposal to deliver results to our customers.”

“This is a bittersweet deal for us. We are very proud of our talented team and their accomplishments in New Jersey. I’m confident that these stations will continue to thrive as part of the Townsquare family,” said Jeff Warshaw, Chief Executive Officer of Connoisseur.

In connection with the Acquisition, Townsquare is acquiring the assets of three radio stations (WPST-FM 94.5, WNJE-AM 920, and WCHR-AM 1040) from Connoisseur. These stations will join Townsquare’s existing Trenton, NJ station WKXW-FM NJ
101.5. In addition, Townsquare owns five stations in Monmouth-Ocean, NJ and five stations in Atlantic City, NJ. This is the Company’s third acquisition in the last nine months: Townsquare announced the acquisition of WOUR-FM in Utica, NY in February 2018 and closed the acquisition of a cluster of radio stations in Pittsfield, MA in September 2017. Pro forma for these acquisitions, Townsquare will own 321 radio stations in 67 markets, maintaining its position as the third largest owner of radio stations in the United States. The Company expects the Acquisition to close in the second quarter of 2018, subject to closing conditions and customary regulatory approvals.

About Townsquare Media, Inc.
Townsquare is a Radio, digital media, entertainment and digital marketing solutions company principally focused on being the premier local advertising and marketing solutions platform in small and mid-sized markets across the U.S. The company’s assets include 317 radio stations and more than 325 local websites in 67 U.S. markets, a digital marketing solutions company (Townsquare Interactive) serving approximately 12,400 small to medium sized businesses, a proprietary digital programmatic advertising platform (Townsquare Ignite), and approximately 350 live events with nearly 18 million attendees each year in the U.S. and Canada. Our brands include local media assets such as WYRK, KLAQ, K2 and NJ101.5; music festivals such as Mountain Jam, WE Fest and the Taste of Country Music Festival; touring lifestyle and entertainment events such as the America on Tap craft beer festival series and North American Midway Entertainment, North America’s largest mobile amusement company; and

leading tastemaker music and entertainment owned and affiliated websites such as XXLmag.com, TasteofCountry.com, and
Loudwire.com. For more information, please visit www.townsquaremedia.com, www.townsquareinteractive.com, and
www.townsquareignite.com.

About Connoisseur Media, LLC.
Connoisseur Media owns and operates 31 radio stations and numerous digital brands in 8 markets including Nassau-Suffolk, NY; Bridgeport, CT; Allentown, PA; New Haven, CT; Billings, MT; and Erie, PA. For more information please visit www.connoisseurmedia.com.

Forward Looking Statements
Statements in this press release that are not historical are forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon management’s current beliefs and expectations and are subject to uncertainty and changes in circumstances. They contain words such as “believe,” “intend,” “expect” and “anticipate” and include statements about expectations for the Company’s operations, markets, products, services, financial results and other risk factors discussed in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including under the “Risk Factors” section in the Company’s most recent Form 10-K and other SEC filings. Unless otherwise required by applicable laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information or future developments.

Connoisseur Media announced that we have entered into a Local Programming and Marketing Agreement (LMA) with Red Wolf Broadcasting to manage our Hartford stations and our New Haven translator 102.3. There are no programming changes, other than “Mod 102.3” becoming a simulcast of Bomba 102.3.

Additionally, Connoisseur Media has entered into an Asset Purchase Agreement with Red Wolf Broadcasting to purchase these same stations. Involved in the transaction are: WDRC-FM, WDRC-AM (Hartford), WSNG (Torrington), WMMW (Meriden) and Mod-102.3 (New Haven). Red Wolf is owned by local Connecticut broadcaster John Fuller. The sale will most likely occur in the next several months.

“We are so pleased that these stations will be part of a company that is so dedicated to local service. John is a terrific broadcaster”, Jeffrey D. Warshaw, Connoisseur’s CEO

Connoisseur currently owns/operates 38 radio stations and digital brands in 11 markets.