Audacy Wastes No Time: Bankruptcy Restructuring Approved.
WEB1 day ago · Audacy, which owns more than 220 radio stations in 45 markets, filed for bankruptcy to restructure its balance sheet. Under the plan approved by a federal judge in February, Audacy’s will emerge from the process with access to new loans and financing.
Audacy will head to bankruptcy court after months of delays …
WEB1 day ago · Audacy will head to bankruptcy court after the FCC agreed to conduct a foreign-ownership review with a new, post-bankruptcy version of the radio giant, a move that comes after months of delays ...
Audacy Successfully Completes Financial Restructuring; Emerges …
WEB2 days ago · PHILADELPHIA, PA – September 30, 2024 – Audacy, Inc. (the “Company” or “Audacy”) announced today that it has successfully completed its financial restructuring, implementing a fully consensual, deleveraging transaction that equitized approximately $1.6 billion of funded debt, a reduction of 80% from approximately $1.9 billion to $350 million.
FCC Approves Audacy Restructuring; Company Plans To Emerge …
WEB2 days ago · Audacy, which owns more than 220 radio stations, filed for bankruptcy in January to restructure its balance sheet. Under the plan, approved by a federal judge in February, Audacy’s business will remain intact and it will see $1.6 billion in debt wiped out. The deal also allows Audacy to emerge from the process with access to new loans and ...
Audacy going private after bankruptcy emergence, FCC approval
WEB1 day ago · Published Oct. 1, 2024, 2:56 p.m. ET. Philadelphia-based radio broadcaster Audacy has emerged from bankruptcy shedding about $1.6 billion worth of debt, and now plans to go private, following an FCC approval for its restructuring. “We are pleased to have successfully achieved all of our restructuring goals, emerging with an outstanding ...
Audacy emerges from bankruptcy as a private company - Axios
WEB1 day ago · Radio and podcast giant Audacy has emerged from Chapter 11 bankruptcy protection following the approval of a transfer of its radio station licenses from the Federal Communications Commission (FCC). Why it matters: The firm, which was delisted from the New York Stock Exchange in May, leaves bankruptcy …
FCC Approves Plan That Allows Audacy to Exit Bankruptcy
WEB2 days ago · Published: September 30, 2024. Audacy has exited Chapter 11 bankruptcy proceedings, after the FCC on Monday approved the necessary transfer of radio station licenses to the reconstituted company. Audacy is the second-largest radio company in the United States by revenue. It will continue to be led …
FCC Approves Audacy Bankruptcy Restructuring - RadioInsight
WEB2 days ago · September 30, 2024. The FCC has approved the Chapter 11 bankruptcy restructuring of Audacy allowing the company to complete the process. Upon closing two parties will hold attributable stakes in the new Audacy. Laurel Tree Opportunities Corporation will hold at 57% controlling stake in the company. Led by trustees Leonard Benardo, Maryann ...
Largest U.S. radio company, Audacy, files for bankruptcy ... - NBC News
WEBJan 7, 2024 · By CNBC. Audacy, the radio and podcast giant, said Sunday it filed plans for Chapter 11 bankruptcy protection in Texas to reduce its debt. The restructuring agreement will allow Audacy to...
Audacy Receives Court Approval of Reorganization Plan
WEBFeb 20, 2024 · Under the approved Plan, Audacy will equitize approximately $1.6 billion of funded debt, a reduction of 80% from approximately $1.9 billion to approximately $350 million. Trade and other unsecured creditors will not be impaired.