Report: Giuliani Creditors Subpoena WABC’s John Catsimatidis
According to a report from Bloomberg, Rudy Giuliani’s creditors are subpoenaing WABC, New York owner John Catsimatidis to get documents “detailing his relationship with Giuliani, Giuliani’s
compensation from WABC, and documents about the shows Giuliani hosted.” The creditors are represented by a committee in Giuliani’s bankruptcy case and until 10 days ago, Giuliani worked at WABC hosting an afternoon radio talk show. The report notes that the creditors are looking for information about Giuliani’s “‘termination or suspension’ and about any statements he made regarding the Georgia poll workers who won a $148 million defamation judgment against him after he accused them of rigging election results.” Giuliani challenged that verdict in court, but his recent efforts failed, and he remains on the hook for the $148 million judgement. Read the Bloomberg Law story here.
received a substantially final form of agreement with respect to a consensual transaction relating to the Issuer’s funded indebtedness satisfactory to such lenders on or before December 15, 2023, the grace period extension expires after 45 calendar days. This is relevant to the following Credit Facility interest payments: approximately $17,000,000 originally due on October 31, 2023; approximately $785,592 originally due on November 8, 2023; and approximately $1,125,000 originally due on December 28, 2023. Regarding the Receivables Facility Amendment, it amends the cross-default that would otherwise occur under the Receivables Facility in respect of certain defaults in the payment of interest under the Credit Facility, with the effect that such interest payment defaults will not result in an event of default under the Receivables Facility until the expiration of the 68 or 45 calendar day grace periods… and extends certain related covenant accommodations with respect to the Company’s liquidity position through January 7, 2024.”
regarding a restructuring of the Company’s outstanding indebtedness,” it reaches agreements with investors and creditors to again extend the deadline after which it would be in default. Audacy gets an extension on the due date for interest payments on its Credit Facility to November 30 and on its Receivables Purchase Agreement for the October Audacy Party Payment to November 30 and the November Audacy Party Payment Due Date to December 8. 
notes due March 31, 2029 that extends the grace period before which a default in payment of interest on the 2029 Notes matures into an Event of Default by 30 days. The grace period for the interest payment under the 2029 Notes Indenture in the amount of approximately $18 million that was due on September 30, 2023, which, as previously disclosed, the Issuer elected to utilize, now ends on November 29, 2023. Additionally, Audacy is using the 30-day grace period under the existing indenture governing its 6.500% senior secured second-lien notes due May 1, 2027 for the interest payment in the amount of approximately $15 million that is due on Wednesday, November 1, 2023. Audacy intends to utilize the 3-business day grace period under the credit agreement, dated as of October 17, 2016, among the Issuer, the guarantors named therein, the lenders named therein and JPMorgan Chase Bank, N.A., as administrative agent for the lenders and collateral agent for the secured parties thereunder, for interest payments in the aggregate amount of approximately $17 million that are due on Tuesday, October 31, 2023.