Audacy kicked off New York Stock Exchange after price falls
Audacy has been removed from the New York Stock Exchange after its stock price fell below a required threshold.
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 been removed from the New York Stock Exchange after its stock price fell below a required threshold.
Net revenue during its first financial quarter was down nearly 6 percent, blamed on a weak ad market and higher operational expenses.
Mitch Thompson, whose traffic reporters aired on KCBS Radio for two decades, died this week at the age of 63.
Two key executives will step down from their roles at radio broadcaster Audacy this month, according to a report.
Audacy is exploring a plan that would allow users of its streaming radio app to listen to commercial-free music, news and sports programming for a monthly fee. [EXCLUSIVE]
Three major radio broadcasters have been nominated for potential Webby Awards this year.
Audacy has extended an online auction for the Radio.com domain name after its earlier efforts failed to produce at least $2.5 million in bids.
Audacy has sold six of its transmission towers for $17 million as the company works to bring in more capital amid a downturn in business.
Audacy has apparently decided to sell off the Radio.com web address that it acquired through its merger with CBS Radio several years ago.
A suspect with a lengthy criminal history was charged this week in connection with the murder of a radio news broadcaster in Michigan.