Posted on 01/07/2024 5:17:01 PM PST by george76
Audacy, the radio and podcast giant, it filed plans for Chapter 11 bankruptcy protection to reduce its debt.
The restructuring agreement will allow Audacy to slash its total debt load by 80% to about $350 million from around $1.9 billion
...
Audacy , the radio and podcast giant, said Sunday it filed plans for Chapter 11 bankruptcy protection in Texas to reduce its debt.
The restructuring agreement will allow Audacy to slash its total debt load by 80% to about $350 million from around $1.9 billion
...
The Philadelphia-based company owns hundreds of radio stations and is one of the top radio broadcasters in the U.S. Audacy owns WFAN Sports Radio, New York’s 1010 WINS and KCBS.
(Excerpt) Read more at cnbc.com ...
All propaganda news on the radio. And, when Rush died it killed radio of days gone by.
Never heard of it. As long as Salem is ok I’m good.
Good Lord how does a radio company get $2 billion in debt?
I think the many radio stations I listen to are either Cummulus or Iheart , from what I know these two BIG station owners are fiscally sound? This is the first I ever even heard of this company.
They have an awful lot of terrestrial radio stations and almost all of them are operating at a substantial loss. They also spent a lot of money promoting their Audacy app via concerts, events, etc.
Audacy bought a bunch of those. Audacy is the old Entercom after they bought CBS Radio.
Here is a list of all the radio stations they own.
https://en.m.wikipedia.org/wiki/List_of_radio_stations_owned_by_Audacy,_Inc.
They overplayed 16 Tons.
Sounds like a good opportunity for a conservative businessman to buy these stations up and put some truth out on the airwaves.
You ever get the idea that maybe leveraging yourself to the hilt is not a good thing?
“ They overplayed 16 Tons.”
And what do you get
Another day older and deeper in debt.
Some of them, sure, but most of them are dead businesses walking. The majority of under-50s listen to streaming/podcasts/etc. or satellite radio. Few listen to broadcast terrestrial radio, the stations have problems getting advertisers as they have no way to accurately demonstrate how many people are exposed to an ad (which the other methods do) which is becoming a must have, especially after all the circulation/listener fraud cases coming out of the print media and broadcast media.
Slowly at first, then all at once.
The bottom line is that unless his middle name is Copper, he's lost the magic.
Audacy was in debt for $1.9 billion and the average cost of 30 second radio spot is $327.00.
Being generous and assuming radio stations work on a ten percent margin, Audacy would have to sell fifty nine million 30 second ads, just to recover their debt.
Radio is Dead.
Every person involved with leadership should be forced to forfeit every penny they have made off of this debacle.
Have you ever looked at how many trackers salem put on you when visiting their website? Not just Christian ones. Dozens upon dozens upon dozens... I have very rarely seen a company do that level of invasive tracking of its user base.
I only know it from radio,
Happens many times each economic cycle. Nothing unusual here; about 5% of companies with leverage (in their case, it was likely acquiring stations and making upfront payments to keep talent in place).
I noticed a lot of sports talk stations; they were likely very profitable in their day, but it got saturated in many markets and all the ESPN talk shows dug into the viewership.
They own WFAN in NY for example, and here they own WQAM, which was a big audience in its day, but a lot of infomercial slots now. Just simply a business that lost marketshare after the debt was acquired.
Radio is not dead, it’s just going to be like everything else and use the streaming model. Move the content providers over to there, and even Substack, which I am looking at.
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