Audacy is making ready to file for chapter inside weeks after declining promoting income made the radio community unable to service its practically $2 billion debt load, in line with folks accustomed to the matter.
Philadelphia-based Audacy has reached an settlement with its senior lenders for a prepackaged chapter plan, the folks stated. The lenders will present financing for the proceedings and are anticipated to personal the corporate following the restructuring, they stated.
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Source: wsj.com
