WASHINGTON (Reuters) – The Federal Communications Commission said Monday it had voted to approve the transfer of radio station licenses to allow Audacy, one of the largest radio and podcast companies in the United States, to emerge from bankruptcy.
The company filed for bankruptcy in January in Houston, Texas, with a pre-negotiated debt deal that wipes out its existing equity shares and turns over control of the company to a lender group. The company’s bankruptcy restructuring was approved by a judge in February.
(Reporting by David Shepardson)