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Radio Conglomerate Audacy Files for Chapter 11 Bankruptcy Protection

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variety.com
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Todd Spangler NY Digital Editor Audacy, the troubled radio and audio-streaming company, said Sunday it filed plans for Chapter 11 bankruptcy reorganization to slash its debt.

Audacy is the second-largest radio broadcaster in the U.S. (after iHeartMedia) with 235 owned radio stations across 48 markets.

The company’s stations include L.A.’s KROQ, KNX and KRTH; New York’s WFAN sports-talk radio and 1010 WINS; Atlanta’s V-103 (WVEE) and 92.9 The Game (WZGC); Chicago’s Newsradio 780 WBBM and 670 The Score (WSCR); San Francisco’s Alice (KLLC) and KCBS; and Seattle’s KISW.

Through the restructuring, Audacy expects to eliminate about $1.6 billion of funded debt — a 80% reduction from approximately $1.9 billion — to $350 million.

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