Audacy will head to bankruptcy court after months of delays …
WEB1 day ago · The licenses in question will be transferred, not to Soros, but to a post-bankruptcy Audacy of which Soros would be a majority shareholder and not the owner, the FCC clarified.
Soros-backed group gets OK to acquire licenses for Audacy stations
WEB1 day ago · Ashley Carman. Bloomberg. Audacy Inc., the bankrupt radio broadcaster, won regulatory approval for the transfer of its licenses to a nonprofit funded by billionaire George Soros, paving the way ...
WEEI's bankrupt owner Audacy gets FCC approval to transfer …
WEB1 day ago · PUBLISHED: September 30, 2024 at 7:31 p.m. Facing major pushback, the FCC has given the greenlight for WEEI’s owner Audacy to transfer its licenses to a George Soros-backed nonprofit, as the ...
George Soros-Backed Group Wins FCC Approval for Audacy …
WEB1 day ago · Audacy Inc., the bankrupt radio broadcaster, won regulatory approval for the transfer of its licenses to a nonprofit funded by billionaire George Soros, paving the way for the company to emerge ...
FCC Partisan Rift Grows Deeper Over Audacy Restructuring Vote
WEB1 day ago · Outside of the realm of Soros, the FCC’s approval also includes a temporary and limited waiver permitting Audacy to emerge from bankruptcy before filing a petition for a declaratory ruling ...
Soros-led takeover of Audacy gets FCC approval despite opposition
WEB1 day ago · The company's court-approved reorganization plan will hand control of Audacy over to a group of lenders headlined by Soros-led investment firm Laurel Tree Opportunities Corp., along with MBX ...
FCC Approves Plan That Allows Audacy to Exit Bankruptcy
WEB1 day ago · Philadelphia-based Audacy sheds about 80% of its debt through the process, down to $350 million, according to bankruptcy court filings. Soros Fund Management will command at least 40% of the stock in the new Audacy, according to the company. The fund is directed by Alex Soros, son of George Soros, the …
Audacy going private after bankruptcy emergence, FCC approval
WEB3 hours ago · The billionaire’s Soros Fund Management previously acquired about $415 million worth of Audacy’s debt. As part of the reorganization, a financial firm known as Laurel Tree Opportunities Corporation became a major shareholder in Audacy, holding at least 57% of Class A stock in the company, the FCC explained in its memorandum.
Audacy emerges from bankruptcy as a private company - Axios
WEB1 day ago · By the numbers: Audacy's debt is reduced by about 80% to $350 million, putting the company in a position to pursue its growth strategy without being slowed down by its debt. At the end of 2023, Audacy's debt-to-equity leverage was 20x, but it is now 2.7x. Field expects Audacy's leverage to be reduced …
FCC approves radio license transfers to allow Audacy to exit …
WEB1 day ago · A screen displays the company logo for Audacy, Inc. on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 16, 2023. REUTERS/Brendan McDermid/File Photo Purchase Licensing ...
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