by Radio Ink
January 7, 2024
As expected, Audacy has filed for bankruptcy after a significant restructuring agreement with its debtholders. The company filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court for the Southern District of Texas on Sunday morning.
The proposed Plan of Reorganization, which incorporates the RSA’s terms, is subject to Court approval. The restructuring plan has the support of a supermajority of debtholders, who have committed to voting in favor of the Plan.
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