Audacy, Inc.

Audacy, Inc. is an American broadcasting company based in <a href="/facts/Philadelphia/2bFFCCTU">Philadelphia</a>, <a href="/facts/Pennsylvania/HGqC5bBm">Pennsylvania</a>. Founded in 1968 as Entercom Communications Corp., it is the second largest radio company in the United States, owning over 220 radio stations across 47 <a href="/facts/Media_market/PtR9gTTw">media markets</a>.
In November 2017, the company merged with <a href="/facts/CBS_Radio/gPN81YYy">CBS Radio</a>. The transaction was structured as an exchange offer whereby owners of <a href="/facts/CBS_Corporation/TVj8Wy8Y">CBS Corporation</a> common shares (i.e., not the multiple-voting shares held by CBS Corp parent company <a href="/facts/National_Amusements/V5trotq8">National Amusements</a>) at the time of the merger could elect to exchange their shares for Entercom shares corresponding to a 72% stake in the combined company. The company changed its name from Entercom to Audacy on March 30, 2021. On April 9, the <a href="/facts/Ticker_symbol/zaalBdU6">ticker symbol</a> on the <a href="/facts/New_York_Stock_Exchange/XgSV32lk">New York Stock Exchange</a> changed from "ETM" to "AUD".
Audacy emerged from bankruptcy on September 30, 2024, and is now a privately-owned company. The new ownership group includes <a href="/facts/Soros_Fund_Management/C7QW6rxr">Soros Fund Management</a> (which has controlling interest) as part of their other audio investments.

Audacy, Inc. open-in-new

Audacy, Inc.