Audacy Expected to File for Bankruptcy: Report ...Middle East

Audacy is expected to file for Chapter 11 bankruptcy after reaching an agreement with its lenders, according to a report at the Wall Street Journal. The prepackaged bankrupcy would be financed by the lenders, who would take ownership of the radio company following the restructuring, the report said. An Audacy spokesperson had no comment when contacted by Billboard. Audacy, formerly named Entercom, is saddled by $2 billion in debt acquired primarily from its 2017 merger with CBS Radio. That deal expanded Audacy’s revenue but also increased its debt nearly fourfold from $468 million at the end of 2016 to $1.86 bill

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Last updated : 05 January 2024 clock 09:08 PM

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Audacy Expected to File for Bankruptcy: Report ...Middle East

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