Audacy, Inc., Second-Largest U.S. Radio Broadcaster Files for Bankruptcy
In an astonishing blow, radio behemoth Audacy, Inc has declared bankruptcy, plagued by a staggering $1.9 billion debt. Even with media titans like WFAN and 1010 WINS under its wing, the company’s financial strife is clear proof of the headwinds traditional media faces against the digital tide. Yet, in the midst of financial doom, Audacy displays a notable resilience, planning a drastic 80% debt reduction, aiming towards a sustainable future – a testament to the indomitable spirit of American enterprise.