Radio and podcast giant Audacy has conducted another round of layoffs.
Reports indicate that several hundred employees from various radio stations nationwide, including some on-air personalities and content creators for Audacy, have announced their termination via social media.
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The announcement follows the departure of CEO David Field, who relinquished his post at the end of January. He stated then that the organization was “well-positioned both competitively and financially” and that it was the “perfect moment for a change in leadership.
In January 2024, Audacy went through a Chapter 11 bankruptcy proceeding, but by September 2024, it had reorganized itself as a privately-held entity, shedding a significant portion of its debt burden from its balance sheet in the process.
In order to exit bankruptcy, Audacy agreed to assign their radio licenses to a charitable organization that received funding from George Soros.
In his farewell message, Field highlighted that the company emerged from its restructuring in September with the most robust financial position within the industry.
Audacy houses a variety of well-known radio stations like KROQ and KRTH 101 from California, 100.3 Jack FM in Dallas, and WINS-FM in New York. Beyond radio, the company boasts a podcast division that features shows such as “Office Ladies,” “Fly On the Wall,” and “The goop Podcast.” This division encompasses Pineapple Street, offering titles related to TV and film, but underwent a 25% staff reduction in January 2024.
In the meantime, Board Member Kelli Turner will be stepping into the role of Acting CEO while the board conducts their search for a permanent chief executive officer.
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2025-03-07 18:54