Audacy, Inc.
American radio broadcasting company / From Wikipedia, the free encyclopedia
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Audacy, Inc. is an American broadcasting company based in Philadelphia, Pennsylvania. Founded in 1968 as Entercom Communications Corp., it is the second largest radio company in the United States, owning over 220 radio stations across 47 media markets.[3]
Formerly | Entercom Communications Corporation (1968–2021) |
---|---|
Company type | Public |
OTC Pink Current: AUDA (2023–present) NYSE: AUD (2021–2023) NYSE: ETM (1999–2021) Russell 2000 component | |
Industry | Broadcasting |
Predecessors |
|
Founded | October 21, 1968; 55 years ago (1968-10-21) |
Headquarters | , United States |
Key people | |
Services | |
Revenue | $1.463 billion (2018) |
$250 million (2018) | |
-$361 million (2018) | |
Subsidiaries | |
Website | audacyinc |
Footnotes / references [1][2] |
In November 2017, the company merged with CBS Radio. The transaction was structured as an exchange offer whereby owners of CBS Corporation common shares (i.e., not the multiple-voting shares held by CBS Corp parent company National Amusements) at the time of the merger could elect to exchange their shares for Entercom shares corresponding to a 72% stake in the combined company.[4][5]
On January 7, 2024, Audacy announced that it had filed for a prepackaged Chapter 11 bankruptcy, citing approximately $1.9 billion in debt.[6]