Audacy as a Non-Profit
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.
Read the full article now
I went to synagogue and prayed for the future success of Audacy under ownership not aligned with the current illegitimate occupant of the White House. May his reign be scathing in its take-down of trump; may he return professionalism, propriety, and couth” to our honored form of communication.