PURCHASE, N.Y., June 20,
2023 /PRNewswire/ -- Townsquare Media, Inc. (NYSE:
TSQ) (the "Company" or "Townsquare") announced that it is set to
join the broad-market Russell 3000® Index and the
Small-Cap Russell 2000® Index at the conclusion of the
2023 Russell indexes annual reconstitution, effective after the US
market opens on June 26, 2023,
according to a preliminary membership list. Preliminary membership
lists (reflecting any updates) were posted to the FTSE Russell
website from May 26 – June 16, 2023.
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of April 28, 2023,
ranking them by total market capitalization. Membership in the US
all-cap Russell 3000® Index, which remains in place for
one year, means automatic inclusion in the Large-Cap Russell
1000® Index or Small-Cap Russell 2000® Index
as well as the appropriate growth and value style indexes. FTSE
Russell determines membership for its Russell indexes primarily by
objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $12.1 trillion in assets are benchmarked against
Russell's US indexes. Russell indexes are part of FTSE Russell, a
leading global index provider.
For more information on the Russell 3000® Index and
the Russell indexes reconstitution, go to the "Russell
Reconstitution" section on the FTSE Russell website.
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 approximately 30,400 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 356 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.
About FTSE Russell
FTSE Russell is a global index
leader that provides innovative benchmarking, analytics and data
solutions for investors worldwide. FTSE Russell calculates
thousands of indexes that measure and benchmark markets and asset
classes in more than 70 countries, covering 98% of the investable
market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately
$20 trillion is currently benchmarked
to FTSE Russell indexes. For over 30 years, leading asset owners,
asset managers, ETF providers and investment banks have chosen FTSE
Russell indexes to benchmark their investment performance and
create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.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 the Company's current expectations. 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 "could," "would," "will,"
"plan," the negatives thereof and other words and terms. The
forward-looking statements contained in this Press Release include,
but are not limited to, statements related to the Company's
long-term business plan. By nature, forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from those projected or implied by the
forward-looking statements. Forward-looking statements are based on
current expectations and assumptions and currently available data
and are neither predictions nor guarantees of future events or
performance. You should not place undue reliance on forward-looking
statements, which speak only as of the date hereof or as of the
date specified herein. See "Risk Factors" and "Forward-Looking
Statements" included in the Company's Annual Report on Form 10-K
for the year ended December 31, 2022,
filed with the Securities and Exchange Commission (the "SEC") on
March 16, 2023, and subsequent
filings with the SEC, for a discussion of factors that could cause
the Company's actual results to differ from those expressed or
implied by forward-looking statements. The Company assumes no
responsibility to update any forward-looking statement as a result
of new information, future events or otherwise.
Investor Relations
Claire Yenicay
(203) 900-5555
investors@townsquaremedia.com
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SOURCE Townsquare Media, Inc.