Townsquare Media Inc

Townsquare Media announced a strategic digital advertising partnership with Columbia, S.C.-based Midlands Media Group, expanding its digital advertising platform into another local media market. Under the partnership, Townsquare Ignite, its Digital Advertising segment, will provide Midlands Media Group with its proprietary technology, data-driven advertising strategies and digital marketing services. Townsquare said digital now contributes more than half of its total revenue and profit.

Townsquare Media declared a quarterly dividend of $0.20 per share. The dividend is payable on November 2 to shareholders of record as of October 2, with an ex-dividend date of October 2. The forward yield is 12.64%.

Townsquare Media is targeting $50 million in revenue at a 20% profit margin from its media partnership business within the next four years, while narrowing its full-year 2026 adjusted EBITDA guidance to between $87 million and $90 million. The company reported second-quarter net revenue of $115.4 million, roughly flat year-over-year, with adjusted EBITDA of $24.8 million. Digital advertising revenue rose 11% year-over-year, and digital now accounts for approximately 59% of total segment profit. Townsquare has expanded to 16 media partners covering 41 incremental markets, providing digital programmatic advertising in 115 U.S. markets, and completed its first licensing deal for proprietary technology with partner SummitMedia. Full-year net revenue is now expected between $425 million and $431 million, including about $8 million in political revenue, while the company recorded a net loss of $41.8 million in the quarter due in part to $26.6 million in non-cash impairment charges on FCC licenses.