CNN —
Radio network Audacy on Monday shared that it completed its financial restructuring, successfully reducing its approximately $1.9 billion of funded debt by 80%, to $350 million.
The Philadelphia-based company has seen bottom-line growth, which it said has been accomplished via gains in revenue shares, increased digital revenue growth, audience share gains and expense reductions.
Audacy will continue to be led by its current president and chief executive, David Field, as well as its existing management team.
“Today, Audacy embarks on our next chapter, capitalizing on our position as a scaled,
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