Audacy begins working with creditors to restructure debt
Audacy has engaged in discussions with two groups of creditors to restructure around $1.9 billion in debt, the company confirmed on Tuesday.
Audacy (formerly Entercom) [$AUD] is a national broadcast company that primarily owns local AM and FM radio stations in the United States.
Audacy consists of legacy Entercom stations and stations formerly owned by CBS Radio. The company also operates streaming service Radio.com. Audacy is based in Philadelphia, Pennsylvania.
Audacy has engaged in discussions with two groups of creditors to restructure around $1.9 billion in debt, the company confirmed on Tuesday.
Audacy has carried out a reverse stock split as it seeks to regain compliance with the NASDAQ stock exchange’s policies.
Bob Shannon, a well-known radio personality who spent most of his career at WCBS-FM, died Wednesday at the age of 74.
The bonuses were doled out this month, just weeks after Audacy was de-listed from the NASDAQ for its faltering stock price.
A former on-air reporter at KCBS Radio has left the station to join San Francisco’s flagship newspaper.
Audacy and TuneIn have reached a deal to bring more than 200 live radio streams to the digital audio platform.
Audacy revived the “Live 105” branding for its radio station at 105.3 FM in the San Francisco Bay Area on Monday.
The radio broadcaster wanted at least $2.5 million for the domain; despite interest, no one submitted a minimum bid.
It is the first totally-free, around-the-clock simulcast of the Weather Channel on a streaming platform.
Audacy has been removed from the New York Stock Exchange after its stock price fell below a required threshold.