Industry Speculation About Soros’ Plans for Audacy News and Talk Outlets Intensifies
Audacy, Inc. announced yesterday (9/30) that it has successfully completed its financial restructuring, implementing a fully consensual, deleveraging transaction that equitized approximately $1.6 billion of funded debt, a reduction of 80% from approximately $1.9 billion to $350 million. Sources at the radio giant – owner of more than 220 local stations including major all-news, news/talk, and sports talk outlets – say the company emerges as a “healthy, scaled, multi-platform leader in the dynamic audio sector, with total net leverage of approximately 2.7x, differentiated by its #1 position in exclusive, premium audio content.”
Audacy will continue to be led by David J. Field, its current president and CEO, and its existing management team. Field will also serve on the company’s new board of directors. Field states, “We are pleased to have successfully achieved all of our restructuring goals, emerging with an outstanding balance sheet, delivering industry-leading growth, serving our listeners and advertisers with excellence and honoring our commitments to employees and partners,” adding, “Today, Audacy embarks on our next chapter, capitalizing on our position as a scaled, multi-platform audio leader, differentiated by our exclusive, premium audio content, including our unrivaled leadership in sports audio, powered by our industry-leading financial strength and focused on accelerating our innovation and digital transformation. We are maximizing a broad set of opportunities to further accelerate our growth for the benefit of Audacy and all its stakeholders.” In conjunction with the completion of its restructuring, Audacy is expected to become a private company. Audacy’s restructuring comes after the FCC’s commissioners gave a thumbs up on the assignment of licenses held by the radio giant to a new, post-bankruptcy version of the company on September 18, allowing the radio giant to bypass the commission’s review, at least temporarily. According to reliable reports, the Soros Fund Management, led by billionaire investor and powerful supporter of liberal causes, George Soros, acquired over $400 million of the radio company’s debt, making it the largest contributor among a group of lenders looking to exchange loans for stock. Concern grows in the radio industry and related political circles, including some Members of Congress, that the influence of Soros’ political leanings might be felt in the programming of Audacy’s all news stations and predominantly conservative news/talk outlets.

Sid Rosenberg
NewsTalk 580/105.9 KMJ in Fresno, CA, joined forces with local agriculture company Gar Bennett to raise funds for the Central California Food Bank through the 11th Annual Feeding Families Fund Drive (9/20). KMJ listeners responded to the one-day broadcast with generous donations to help their less fortunate neighbors, raising over $200,000 in a single day. Gar Bennett matched every donation with 50 cents on the dollar, for a grand total of $493,000 going to the Central California Food Bank. Co-sponsor Farm Credit also pitched in with a large donation to the cause. The annual one-day event has raised more than $4.5 million for the Central California Food Bank, providing 20 million meals in 11 years. This year’s record-breaking fundraising effort will feed over two million people who struggle with hunger in the Central Valley. Pictured above (l-r): KMJ’s Ray Appleton; Kym Dildyne, CEO, Central California Food Bank, and KMJ’s Liz Kern.
What’s it like to be a self-made billionaire mogul with powerful ownership interests in the media, grocery, energy, real estate, political, and sports industries? TALKERS publisher Michael Harrison presents a candid one-on-one dialogue with Red Apple Group CEO and WABC, New York owner John Catsimatidis that covers all the above bases and then some. “Cats” discusses his ongoing plans for WABC Radio; the future of the AM radio dial; roots of the inflated cost of food and gasoline; his development of beach front condo properties in Coney Island, NY and St. Petersburg, FL; and what he describes as his “common sense” approach to today’s political environment. Catsimatidis’ life is the embodiment of the American Dream – a true rags-to-riches story of a Greek immigrant who came to New York City with his family at the age of six months and worked his way to success, starting in his parents’ humble grocery store, to become one of the most influential individuals in the nation. Harrison and Catsimatidis take the viewer on an amazing “fun” journey from the nostalgic sidewalks and baseball stadiums of old New York to the pinnacle of 21st century business, media, and technology. To view this exciting new entry on the TALKERSMEDIA YouTube channel, please
Phoenix Suns Ring of Honor member and legendary radio play-by-play announcer Al McCoy has passed away peacefully at the age of 91. The longest tenured team broadcaster in NBA history, McCoy was widely known as the “dean of NBA broadcasters” for his years of service and unique broadcasting style. He served 51 seasons as “The Voice of the Suns,” calling his first game on September 27, 1972 and his last on May 11, 2023. McCoy’s unforgettable calls of the most memorable moments in Suns history, including three trips to the NBA Finals, and his trademark phrases from “Shazam!” to “Zing Go the Strings” to “Heartbreak Hotel” have cemented his legacy throughout Arizona and the NBA. His distinctive voice, vivid descriptions and deep knowledge of the game created a unique style that remained a staple for more than five decades. McCoy will long be known as the Voice of the Phoenix Suns. His many contributions to basketball and sports broadcasting were recognized when he received the Curt Gowdy Media Award from the Naismith Basketball Hall of Fame in 2007. The first play-by-play announcer inducted into the Arizona Broadcasters Hall of Fame in 2004 and a 2009 inductee into the Arizona Sports Hall of Fame, McCoy earned the team’s highest honor when he became the 15th person inducted into the Suns Ring of Honor in 2017. Funeral services are pending.
Beasley Broadcast Group Inc. (Nasdaq: BBGI) has announced a 1-for-20 reverse stock split, effective September 23, 2024. But what does this mean for shareholders? A reverse stock split reduces the number of shares investors own while increasing the price per share. In BBGI’s case, for every 20 shares you hold, you’ll now own one share. For example, if you own 100 shares at $0.50 each, after the split, you’ll own five shares priced at around $10 each. Importantly, the total value of your investment stays the same before any market fluctuations. BBGI is conducting this reverse stock split to boost its stock price and comply with Nasdaq’s requirement for stocks to trade above $1.00. The split helps the company remain listed on the exchange. Shareholders don’t need to take any action – your broker will automatically adjust the number of shares. However, if you end up with a fractional share (e.g., owning 25 shares pre-split), you’ll receive cash for the fraction rather than owning a partial share. The reverse split will take effect on September 23, 2024, with shares trading at the new price starting September 24. While your share count decreases, the goal is to stabilize BBGI’s stock price and position the company for future growth. In summary, the reverse stock split is a technical adjustment, and the value of your investment remains the same. Keep an eye on the stock’s performance post-split to gauge its long-term impact.
The images accompanying the music will be a dynamic montage of individual radio talk hosts in the process of doing their shows. The group invites talk show hosts from around the country – local and syndicated – to contribute video clips of themselves in action on the mic. The clips need not be longer than one minute and show the face of the host on air in the studio (even if it is a home studio) and, if possible, show the station or program logo in the frame. Obviously, the group cannot guarantee inclusion in the final product, but every effort will be made to do so. Gunhill Road video producer (and TALKERS VP/associate publisher) Matthew B. Harrison states, “The members of Gunhill Road are so grateful for the attention and airplay they have received over the past five years from talk radio that they want to give something special back to the industry and its medium.” Interested hosts should send their video clips to
As millions of voters across Los Angeles County decide how to cast their ballots in the pivotal race for district attorney, Audacy’s KNX News 97.1 FM and the Los Angeles Times are joining forces to present a live debate between incumbent George Gascón and challenger Nathan Hochman on October 8 at 5:00 pm PT. Sources at Audacy Los Angeles tell TALKERS, “With criminal justice top of mind for voters across Southern California, the KNX News/L.A. Times debate will dig into the key issues impacting safety, equity, and quality of life for the residents of America’s most populous county ahead of the November 5 election. The one-hour, commercial-free debate will air on KNX News (97.1 FM & 1070 AM) with live video available on the digital and social platforms of KNX News and the Los Angeles Times. KNX News anchor Mike Simpson and chief correspondent Charles Feldman will moderate the debate. Panelists will include L.A. Times reporters James Queally and Brittny Mejia and KNX News reporter Emily Valdez. Media interested in attending should contact Alex Silverman at 


The live, one-hour program will air weekday mornings from 5:00 am – 6:00 am beginning September 16 and will be hosted by talk radio host and public speaker Nick Craig of the Carolina Journal.
The early morning show will focus on state-wide news, politics, and business stories that impact the lives of the residents of Charlotte and all of North Carolina utilizing the formidable resources of the Carolina Journal. Additionally, local traffic, sports, and weather reports from the well-established WBT News Team will be featured prominently in every show. “I am beyond excited about the incredible opportunity to work with the John Locke Foundation/Carolina Journal and the iconic WBT radio,” Craig tells TALKERS. “Bringing talk radio to a new generation is not just a personal passion of mine but a vital step in shaping the future of political discourse. I am eager to embark on this journey to elevate the level of political conversation for years to come.” Donna King, editor-in-chief of the Carolina Journal adds, “This powerful partnership will take the public conversation to a new level in North Carolina. Carolina Journal and WBT each have a long history of pioneering journalism, offering North Carolinians fact-based news and analysis that matters. Whether in politics, investigative stories, or public policy, the combined resources of our organizations ensure up-to-the-minute coverage and context that listeners truly cannot get anywhere else.” WBT PD Mike Schaefer tells TALKERS, “This new show is the next evolution of WBT’s already amazing live and local lineup, and it will deliver the news, information and analysis that our listeners have come to expect from us as they start the day.”
Across the nation, talk media hosts from radio, television, cable, podcasting, and YouTube channels were literally working overtime immediately before, during, and after the historic ABC News presidential debate between former President Donald Trump and Vice President Kamala Harris in Philadelphia. TALKERS received reports from across the talk industry that, unlike so many events of this nature that prove disappointing, this debate delivered an edge-of-the-seat, non-stop drama that evoked comparisons to an emotional sporting event like a 12 round heavyweight championship bout during the golden age of boxing. Legendary WPHT, Philadelphia midday host Dom Giordano was in attendance reporting for his station as well as hundreds of others across America that tapped into his swing state perspective on an ad hoc basis.
Giordano tells TALKERS, “Being in the Spin Room was like being in the middle of multiple simultaneous rugby scrums while trying to discuss the most sensitive issues for our country.” During post-debate coverage, lead election anchors Bret Baier and Martha MacCallum announced that FOX News Media sent letters to both the Harris and Trump campaigns around 7:30 pm before last night’s debate requesting the opportunity to host an additional debate in October. Here’s an excerpt from the letter:
as well as streaming on the WGMD app, and TalkOfDelmarva.com. That will be accompanied by a real-time, interactive blogging event at RealNewsTalk.com. FOX News Media will present live coverage surrounding the debate with special programming available across all of FOX News Media’s key platforms, including FOX News Channel (FNC), FOX Business Network (FBN), FOX News Digital, FOX News Audio and FOX Nation. Cumulus media/Westwood One host Dan Bongino will host a special live edition of his podcast on Rumble preceding and during the debate beginning at 8:00 pm ET.