Townsquare Media, Inc. (NYSE:TSQ) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01 Changes in Registrant’s Certifying Accountant
Townsquare Media, Inc. (NYSE:TSQ) Files An 8-K Changes in Registrant’s Certifying Accountant
On June 13, 2019, Townsquare Media, Inc. (the “Company”) notified RSM US LLP (“RSM”) that RSM was dismissed as the Company’s independent registered public accounting firm, effective June 13, 2019 and approved the engagement of BDO USA, LLP (“BDO”) as the Company’s new independent registered public accounting firm, effective June 13, 2019. The decision to change accounting firms was approved by the Audit Committee of the Board of Directors of the Company (the “Audit Committee”).
RSM’s audit reports on the Company’s consolidated financial statements for each of the two most recent fiscal years ended December 31, 2018 and 2017 did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles. During the Company’s two most recent fiscal years ended December 31, 2018 and 2017 and during the period from January 1, 2019 through June 13, 2019, the Company has not had any disagreement with RSM on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures, which disagreements, if not resolved to RSM’s satisfaction, would have caused RSM to make reference to the subject matter of disagreement in their reports on the Company’s consolidated financial statements. In addition, during such periods, there were no “reportable events” as that term is defined in Item 304(a)(1)(v) of Regulation S-K.
The Company’s management has authorized RSM to respond fully to the inquiries of its new independent registered public accounting firm regarding all matters.
The Company provided RSM a copy of this Current Report on Form 8-K prior to its filing with the Securities and Exchange Commission (“SEC”) and requested that RSM furnish it with a letter addressed to the SEC stating whether or not it agrees with the above statements in response to Item 304(a) of Regulation S-K. A copy of RSM’s letter, dated June 19, 2019, is filed as Exhibit 16.1 to this Current Report on Form 8-K.>
During the years ended December 31, 2018 and 2017 and the subsequent interim period through June 13, 2019, neither the Company nor anyone acting on its behalf consulted with BDO regarding either: (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s financial statements, and neither a written report nor>oral advice was provided to the Company that BDO concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue or (ii) any matter that was either the subject of a disagreement (as that term is defined in Item 304(a) (1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K) or a reportable event (as that term is defined in Item 304(a)(1)(v) of Regulation S-K).
Item 9.01 Exhibits.
(d) Exhibits
Townsquare Media, Inc. Exhibit
EX-16.1 2 exhibit161appointmentofaud.htm EXHIBIT 16.1 Exhibit Exhibit 16.1June 19,…
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EX-16.1 2 exhibit161appointmentofaud.htm EXHIBIT 16.1 Exhibit Exhibit 16.1June 19,…
To view the full exhibit click
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About Townsquare Media, Inc. (NYSE:TSQ)
Townsquare Media, Inc. is a media, entertainment and digital marketing solutions company principally focused on small and mid-sized markets across the United States. The Company operates through two segments: Local Advertising and Live Events. The Company’s Local Advertising segment offers broadcast, digital and mobile advertising within its local markets. The Company’s Live Events segment consists of a range of live events, which the Company creates, promotes and produces, including music concerts, multi-day music festivals, fairs, consumer expositions and trade shows, athletic events, lifestyle events and other forms of entertainment. The Company reports the remainder of its business in its Other Media and Entertainment category, which principally provides digital marketing solutions, e-commerce solutions and digital advertising services nationally. The Company’s assets include radio stations, live events, and digital, mobile, video and social media properties.