February 20, 2024
Radio station operator Audacy Inc. received approval on Tuesday for its prepackaged Chapter 11 bankruptcy plan, allowing it to convert about $1.6 billion of debt to equity and emerge from bankruptcy following approval from the Federal Communications Commission.
February 09, 2024
Bankrupt radio station operator Audacy Inc. wants to sell two pieces of real estate near Boston for as much as $21.6 million to raise funds for its estate in Chapter 11, asking a Texas judge to approve the deals so that it can close on them by early March.
February 05, 2024
Audacy Inc. has agreed to drop a potential shareholder lawsuit over performing rights company Broadcast Music Inc.'s sale to an investor group in exchange for at least $25.4 million in stock under a settlement approved by a Texas bankruptcy judge on Monday.
January 08, 2024
A Houston bankruptcy judge Monday approved a bundle of first day motions that keeps radio broadcaster and media company Audacy Inc. on track to confirm its prepackaged Chapter 11 plan to cut $1.6 billion from its balance sheets in a debt-for-equity swap by February.
January 07, 2024
Radio broadcaster Audacy Inc. hit Chapter 11 on Sunday to the tune of $2 billion in liabilities, citing a decline in advertising revenue and plans to slash 80% of its obligations under a reorganization process expected to get a judge's blessing next month.