Townsquare Media has announced a shakeup of its senior leadership team. The company has promoted Bill Wilson and Dhruv Prasad as co-CEOs, and current CEO/founder Steven Price will take on a new role as executive chairman of the board of directors. In addition, Erik Hellum has been appointed as chief operating officer of local media.
Price co-founded Townsquare in May 2010 and previously served as chairman and CEO. Prior to founding Townsquare in 2010, Price was senior managing director at Centerbridge Partners, a private equity firm, where he led the firm’s investment efforts in telecom, technology and media. Before that, he held a similar position at Spectrum Equity Investors. From 2001–2004, Price served as deputy assistant secretary of Defense (Spectrum, Space and Communications), for which he was awarded the Secretary of Defense Medal for Outstanding Public Service. Price was formerly the president and CEO of LiveWire Ventures, a software and services company he founded in 1998, and the president and CEO of PriCellular Corp., a publicly traded cellular telephone operator. Earlier in his career, Price worked as an attorney at Davis, Polk & Wardwell and as an investment banker at Goldman Sachs. He is co-owner and alternative governor of the Atlanta Hawks and serves as an adjunct professor of marketing at Columbia Business School.
Wilson joined Townsquare in September 2010 and most recently served as executive vice president and chief content and digital officer. Previously, Wilson was president of AOL Media from 2006 to May 2010 where he had overall responsibility for global content strategy. In his nine years at AOL, he also served in roles including president of AOL programming and studios and executive vice president of AOL programming. Prior to joining AOL in 2001, Wilson served as senior vice president for worldwide marketing at Bertelsmann Music Group, which he joined in 1992, and was responsible for worldwide marketing including artist, digital and nontraditional marketing across more than 50 countries for artists including Dave Matthews Band, Outkast, Whitney Houston and Santana.
Prasad co-founded Townsquare in 2010 and most recently served as executive vice president of live events. Prior to co-founding Townsquare, he spent nearly a decade in private equity investing and corporate finance. He previously worked at Thomas H. Lee Partners and Spectrum Equity Investors, and began his career in the investment banking division of Salomon Smith Barney, where he worked in New York and Hong Kong.
Erik Hellum joined Townsquare in August 2010 following the acquisition of GAP Radio Broadcasting, where he served as president of GAP West from May 2008 to August 2010. Prior to joining GAP West, Hellum worked at Bonneville International Communications, where he was VP/ market manager of WIL(AM)/WRTH(AM) in St. Louis from October 2002 to November 2004 and spent four years as VP/market manager of KTAR(AM/FM) and KPKX(FM) in Phoenix from November 2004 to April 2008. Previously, Hellum was VP of sales for AM/FM and oversaw Clear Channel’s cross-platform sales. He began his career at Katz Radio, where he held positions in Boston, Philadelphia, Chicago, Los Angeles and New York.
Townsquare’s assets include 318 radio stations.