Largest U.S. radio company Audacy files for bankruptcy protection
Written by Black Hot Fire Network on January 7, 2024
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 slash its total debt load by 80% to about $350 million from around $1.9 billion, the company said.
“Over the past few years, we have strategically transformed Audacy into a leading, scaled multi-platform audio content and entertainment company,” David Field, CEO of . . .
