Second-largest U.S. radio company Audacy files for bankruptcy protection
Publishing timestamp: 2024-01-08 15:03:07
Summary
Audacy, a radio and podcast giant, has filed for Chapter 11 bankruptcy protection in order to reduce its debt. The company plans to slash its total debt load by 80% through a restructuring agreement. The challenges in the advertising market have severely impacted Audacy's financial condition, leading to the need for balance sheet restructuring.
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Keywords: breaking news: technology, business, breaking news: business, radio, technology, new york, media, business news, audacy inc,