Audacy Restructuring Could Force Station Divestment
| RADIO ONLINE | Monday, March 18, 2024 |
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 Audacy |
Audacy is seeking approval from the FCC to emerge from Chapter 11 bankruptcy. In a move prompted by restructuring, Audacy is set to divest one of its stations in South Carolina. Since it is essentially becoming a new company, the transition means its forfeit its legacy status at its Greenville-Spartanburg cluster. The change necessitates the departure of an FM station there to comply with regulatory requirements, where it owns seven stations, five of which are FM stations, surpassing the legal limit by one.
Documents submitted to the FCC reveal plans to sell 100kW AC WSPA (Magic 98.9), previously known as WYRD-FM. This station has been part of Audacy's lineup since 1999, following Entercom's purchase of 41 stations from Sinclair Broadcast Group. WSPA is set to be transferred to "The Greenville Divestiture Trust," under the management of Kalil & Co.'s Kalil Holding Group LLC.
At present, Greenville and Kansas City, where it hold nine stations, are the only markets where Audacy might need to divest.
