In Phoenix, Audacy owns contemporary hits station Live 101.5 (KALV-FM), country station 107.9 (KMLE-FM) and classic hits station 94.5 (KOOL-FM).
PHOENIX — Audacy Inc. said it has deals in place to sell radio station assets in Phoenix and Boston as the Philadelphia-based audio content provider continues negotiations with its creditors to restructure $1.9 billion in debt and gain financial breathing room. If those talks fail, the company said a bankruptcy filing could be on the horizon.
In an Aug. 7 filing with the Securities and Exchange Commission, Audacy linked its declining advertising revenue to macroeconomic issues such as inflation. It noted that things are “to a large extent, outside our control” since lenders hold most of the cards with any potential restructuring, but the company gave a hint as to what direction it could go if it cannot reach such an agreement.
Audacy said it reached agreements on a pair of asset sales in the second quarter in Boston and Phoenix. It did not say what exactly it is selling, though it noted that it included land/land improvements, buildings, equipment and radio broadcasting licenses. In Phoenix, Audacy owns contemporary hits station Live 101.5 , country station 107.9 and classic hits station 94.5 .
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Audacy takes $10 million hit to exit “onerous” podcasting deal with APMAmerican Public Media confirmed that its multi-year partnership with the cash-strapped company will conclude a year early.
Read more »
CENTRAL TEXAS COMMUNITY FOUNDATION INC - Parmer Lane Fire Recovery Fund
Read more »
Suspect taken into custody following officer-involved shooting on Piestewa Freeway: Phoenix PDA suspect has been arrested following a 'critical incident' along the Piestewa Freeway in Phoenix, according to police.
Read more »
Suspect captured in Phoenix after SR 51 police shooting, pursuit, carjackings and crashesA suspect involved in an officer-involved shooting on State Route 51 is in custody after he allegedly led Phoenix police on a chase Thursday, carjacking multiple vehicles and crashing into several cars along the way.
Read more »
Eddington: Joaquin Phoenix and Ari Aster Seen Scouting for New MovieActor Joaquin Phoenix and director Ari Aster were recently seen scouting for their new movie Eddington together.
Read more »
Beyoncé reads ‘Trans is Beautiful' sign held by Boston drag performer at concertA Boston drag performer had a special moment with Beyoncé at one of her recent shows, when the pop superstar read her sign saying “Trans is Beautiful,” to tens of thousands of people inside of Met Life Stadium.
Read more »