Audacy's Field Denies Report About Company Bankruptcy

RADIO ONLINE | Wednesday, August 31, 2022 | 1:13pm CT

Audacy

Audacy Chairman and CEO David Field is denying a report that the company is about to enter into backruptcy. He wrote in a company-wide email, "I am reaching out to address some fake news from an industry troll about Audacy that is currently circulating. An industry blog post published today falsely claimed that 'David Field confirms Audacy's bankruptcy.' That statement is categorically and unequivocally untrue."

The blog post was from Inside Music Media's Jerry Del Colliano that was titled, "David Field Confirms Audacy Bankruptcy." The headline was then posted on Twitter by WGBH and then later deleted, but not before being picked up by others in the Boston media.

Audacy then posted on Twitter, "A blog post published today falsely claimed that Audacy's CEO confirmed Audacy's bankruptcy. That statement is categorically untrue. Audacy intends to vigorously pursue all available remedies for false statements meant to cause damage to Audacy and its stakeholders."

The company indicated that it intends to go after Del Colliano for the "false statements" made. "Audacy intends to pursue all applicable remedies for false and defamatory statements meant to cause damage to Audacy, its employees and its stakeholders to the fullest extent of the law."

Audacy's stock has traded below $1.00 in recent weeks and the NYSE notified the company in a letter it was in danger of being delisted. Audacy's stock closed at 52 cents on Tuesday.