Audacy didn’t get rescued — it got taken and now the second-biggest radio group in America is being rebuilt from the inside out, under new owners who don’t need to make a profit.
- This is different from previous private equity plays that have left hedge funds filing bankruptcy and selling whatever assets they can because they have investors to worry about.
- Here’s why the FCC’s Brendan Carr’s pants are in a bunch – Audacy didn’t just restructure in bankruptcy, it underwent a total transfer of power — not just financial, but operational and strategic.
- They’re not in this for short-term profits -- if they were, they’d be in the wrong business.
- And the newly weaponized Brendan Carr FCC’s accusation that Soros is out to use Audacy as a political tool is obvious political fodder but not close to being the real motivation.
Go deeper: Bought to bleed / Real world precedent / Turner, Philips and Oliviero caught between strategy and salvage.
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