Audacy ( (AUDAQ) ) has issued an announcement.
Audacy, Inc. has successfully emerged from Chapter 11 with a significantly deleveraged balance sheet, transforming from a debt of $1.9 billion to $350 million. This positions the company as a robust player in the audio sector, with a healthy leverage ratio and a #1 spot in exclusive audio content. The company is led by David J. Field as President and CEO, who also serves on the new Board of Directors. Audacy has maintained its growth momentum by investing in content and technology, resulting in a remarkable 128% increase in Adjusted EBITDA in the first half of 2024 and reaching over 200 million listeners monthly. The company’s portfolio includes local radio brands, podcasts, and partnerships with major sports teams and entertainment brands.
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