Audacy Requests Extension for Debtor-in-Possession Loans
The United States Bankruptcy Court for the Southern District of Texas Houston Division approved Audacy’s prepackaged plan for reorganization under Chapter 11 on February 20 of this year. But the company is
awaiting the FCC’s blessing on the plan to complete reorganization and its Debtor-in-Possession credit facility in the aggregate principal amount of $32 million matures on August 19, 2024. (This DIP Facility allows Audacy to function during the reorganization period.) Audacy is asking the Court to extend the maturation date to September 30, 2024. Audacy stated in its second quarter 2024 financial report that it expects to receive FCC approval in the third quarter of this year.
Under the Federal Communications Commission’s consideration is a proposal from Commander Communications Corporation that would create an FM broadcasting class known as “A10.” In addition to enhancing coverage in rural and underserved areas, it would grant power upgrades for roughly 1,400 Class A FMs, allowing a maximum of 10,000 watts. Approval would depend on a station’s geographical zone; tower height; and separation requirements. While the National Association of Broadcasters recognizes potential benefits for listeners – especially during emergencies – it urges caution owing to possible negative impacts. The NAB generally supports proposals designed to improve coverage areas, but says the “A10” proposal lacks technical analysis and information on how many stations may be upgradable. An NAB filing notes that, “While this could lead to improved service for additional listeners, it could also further squeeze the band in more markets and impact more FM services.” Also opposed is Cumulus Media, which cites an “unacceptable risk” to stations already competing against streaming services. Conversely, the Multicultural Media, Telecom & Internet Council favors the suggestion, stressing that many stations that would qualify for the upgrade are owned by minority and small-scale operators. This proposal would replace an earlier FCC one for a Class C4 FM station category. More than 100 independent and minority owners backed the idea, but it ran into opposition from larger companies and the NAB.
executive-level employee of the FCC to craft and advance a political playbook to influence the presidential election in favor of Donald Trump.” The Democrats say he may have violated ethics laws for federal employees and the Hatch Act. Carr tells Forbes that he sought counsel from FCC ethics officials prior to working on Project 2025 and they “approved of me participating in my personal capacity, which I did.” He also says they approved him using his FCC title in his biography. Forbes reports, “Carr’s chapter on the FCC calls for the agency to ‘change course’ and focus on reining in big tech and promoting national security. The FCC commissioner proposes overhauling legal protections that shield tech companies from liability for content posted on its platforms and supports Congress passing legislation similar to laws in Texas and Florida that punish social media companies for suspending or banning users based on their ‘viewpoints’ – part of broader claims by conservatives that social media companies are biased against them. Project 2025’s FCC agenda also calls for banning TikTok as part of a crackdown on infrastructure from China and calls for tech companies to provide greater transparency.” 
township of Lower Merion with regard to its former headquarters in Bala Cynwyd, Pennsylvania. The original amount to be paid by Audacy was $1.4 million however that figure was later deemed incorrect and now the company agrees to pay the township $2 million. Audacy is still awaiting final approval from the FCC to be able to operate its radio stations as the new Audacy.
ends Neuhoff’s time in the radio business after almost 70 years. At one time, Neuhoff owned 24 stations – plus digital assets – in five markets. Woodward Communications, Inc operates eight stations – including news/talk WHBY-AM – in Appleton and Green Bay, Wisconsin. Neuhoff family trustee Julian Hickman says, “This final sale is bittersweet for our family, reflecting both a proud legacy and an emotional farewell. Our grandfather, Roger Neuhoff, poured his heart into the broadcast industry since the mid-1950s. The stations have been a vital part of our family and community, and while we cherish the incredible journey, it is time to turn the page.” Trustee Makena Neuhoff adds, “We would like to thank the incredible teams of local broadcasters in Springfield and Bloomington. We will forever cherish the memories and the significant impact our stations had on the local communities.” 
the FCC’s requirement to do a foreign ownership review and Audacy’s request that the FCC grant a limited waiver of that review in order to more speedily exit Chapter 11. This request is under heavy scrutiny due to the political aspects of the case. Carr recently told the Post that the FCC should not allow a “Soros shortcut” – a term used by the Media Research Center in its Petition to Deny filed with the Commission – but must follow FCC procedure. Audacy argued in its opposition to the Petition to Deny that there is nothing unique about this request, saying that the FCC “granting a limited waiver deferring its foreign ownership review to facilitate a licensee’s prompt emergence from bankruptcy is consistent with the Communications Act.” Audacy adds that the notion that the limited waiver is new “completely ignores longstanding precedent establishing the Commission-approved special warrant process used in a number of prior transactions to allow licensees to emerge from bankruptcy promptly, while affording the Commission sufficient opportunity to review foreign ownership issues post-emergence.” 
determined that granting a limited waiver deferring its foreign ownership review to facilitate a licensee’s prompt emergence from bankruptcy is consistent with the Communications Act.” Further, Audacy says, “According to the MRC, Audacy is attempting to employ an ‘entirely new’ and ‘vague and undefined’ special warrant process’ to delay the Commission review of Audacy’s proposed foreign ownership until ‘sometime down the road’ when the company ‘may choose’ to file a petition for declaratory ruling seeking such review. This specious claim not only mischaracterizes the company’s waiver request detailed in the Application, but completely ignores longstanding precedent establishing the Commission-approved special warrant process used in a number of prior transactions to allow licensees to emerge from bankruptcy promptly, while affording the Commission sufficient opportunity to review foreign ownership issues post-emergence.” Separately, FCC Chairwoman Jessica Rosenworcel responded to Congressman Nicolas Langworthy (R-NY) and Congressman Chip Roy (R-TX), who both wrote to her implying that the Commission is not going through “its normal, statutorily required process” and voiced concern over Soros Fund Management’s acquisition of Audacy debt. Langworthy wrote that Audacy being “owned by a deeply partisan individual [George Soros], could have a fundamental impact on the nature of local radio and potentially silence political viewpoints.” Rosenworcel’s response indicates she believes the Commission is handling the matter appropriately, saying, “The Bureau staff will review the record and decide if the transfer is in the public interest pursuant to Section 310(d) of the Communications Act.”
originate content using FM boosters and is intended to do so without raising the potential for harmful co-channel interference to the reception of the primary station’s signal outside the coverage area of the booster station or to previously authorized secondary stations.” GBS filed a petition on March 13, 2020, proposing to give FM broadcasters the option to use boosters to originate programming to specific zones within their stations’ service area, proposing to allow program origination for a limited period totaling three minutes per hour… During that limited period, GBS proposes that the FCC allow the booster to originate geo-targeted advertisements, promotions for upcoming programs, and other hyper-localized content, suggesting it would benefit small and minority-owned broadcasters, because potential advertisers that currently find it prohibitively expensive to buy spots reaching a radio station’s whole service area might purchase lower-cost airtime reaching a more targeted area, thereby becoming a new source of station revenue.”
reporting is operating results for 2023 it reveals net revenue of $1.16 billion, a decrease of 6.75% from the full year 2022. The company was hampered by an impairment loss of $1.3 billion in 2023, compared to the impairment loss of $180 million reported in 2022. That and other factors led to total operating expense soaring to $2.5 billion, compared to the total operating expense of $1.32 billion in 2022. The company posted a net loss of $1.13 billion in 2023, compared to the net loss of $140 million reported for 2022. 
February 20.” Audacy awaits FCC approval to complete its restructuring and plans to file its 2023 10-K later this month. The company says it experienced revenue growth of 1% in January, led by a 1% increase in radio revenue and a 7% increase in digital revenue. Audacy chairman, president and CEO David Field comments, “Audacy is off to a strong start in 2024, driving accelerated financial and operating performance, including solid early growth in revenues, key digital metrics, and audience and revenue shares. We look forward to a bright future, capitalizing on our best-in-class balance sheet and our scaled leadership position in the dynamic audio market, distinguished by our exclusive premium content and top positions across the country’s largest markets.”
Indeed, TikTok has been caught engaging in a pattern of illicit surveillance and making false statements about personnel in Beijing accessing sensitive U.S. user data. These facts were laid bare for the world to see when the House Energy and Commerce Committee held a TikTok oversight hearing last year. And that is why there is now a broad, bipartisan consensus that TikTok cannot continue to operate in the U.S. in its current form. I want to applaud the strong, bipartisan leadership that Members of Congress have shown in advancing this bill, which would definitively resolve the serious national security threats TikTok poses by banning the app or requiring that it genuinely sever ties to the CCP. This is a smart, threat-specific bill that would address a clear and present danger. I hope that this bill will soon become law.”
Are you a sales curmudgeon? You know, that old-school, out-of-touch terrestrial radio ad sales rep who is too lazy to learn the new digital/social media sales world?
settled beforehand. Audacy expects to emerge from the Chapter 11 process after approval from the FCC. Audacy chairman, president and CEO David J. Field says, “Today’s announcement marks a powerful step forward for Audacy, positioning the company for an exciting future. As expected, we have achieved a speedy confirmation of our prepackaged Plan, which will enable Audacy to pursue our strategic goals and opportunities in the dynamic audio business. We aim to drive accelerated growth and financial performance, capitalizing on our scaled, leadership position, our uniquely differentiated premium audio content and the robust capital structure that we will have upon emergence. I also want to express my gratitude to our team, who continue their outstanding work to serve our listeners and customers with excellence and fulfill our commitments without missing a beat.” The company notes that under the Plan, trade and other unsecured creditors will not be impaired.
compliance reports to the Bureau through the remainder of the current license terms of the two stations, and pay a Civil Penalty to the United States Treasury in the total amount of $500,000.” The violations in question center on a program that aired on Townsquare’s news/talk outlets KIDO-AM, Boise and KLIX-AM, Idaho Falls from October 2021 through March 2023 in which they “broadcast a one-hour episode of, and 30-second advertisements promoting, the Program. The format of each episode nominally resembled a news interview/public affairs program produced and presented by the Stations. In fact, however, all episodes of the Program were paid political presentations. Townsquare was paid to broadcast episodes of the Program and related advertisements initially by and on behalf of the Idaho Republican Party, and later by Tom Luna on behalf of a company doing business as Tom Luna and Associates. The hosts of each episode (Tom Luna and Victor Miller, chairman of the Ada County (Idaho) Republican Party) were solely responsible for producing the Program, including selecting guests and determining program content. Neither station provided any on-air Sponsorship ID announcements for the vast majority of the episodes or promotional advertisements that they aired revealing to listeners the true nature of the broadcasts and the identity of those who paid for them. In addition, multiple episodes of the Program contained appearances that constituted uses by legally qualified candidates for public office and communicated messages relating to political matters of national importance. Neither station uploaded records of any such candidate uses or messages to their respective online political files.”
the Annual Report alone, without also uploading it to its intended destination in a timely manner, here more than nine months late, may, in certain circumstances, constitute (and here does constitute) a violation of the requirements to analyze the Stations’ EEO program. The length of time during which Cumulus failed to upload its Annual Report is persuasive evidence that Cumulus did not ‘routinely analyze the adequacy of their various EEO program elements in achieving broad outreach to all segments of the community’ and address any problems found as a result of such analysis… Consequently, given the specific circumstances of this case, we reject Cumulus’s argument that any self-evaluation it did in fact undertake was adequate and satisfied the self-assessment rule.” 
Folks in the Gen Z and millennial demographics are heavily 
program. The story notes that Slaten last worked at KFNS seven years ago and this will be his sixth stint with the station. Slaten has a reputation in the market for being controversial. He also hosts a conservative political podcast called “The King’s Court” and previously worked for the late Bob Romanik, a political raconteur whose talk station KQQZ-AM was shut down by the FCC after it was discovered that Romanik, a convicted felon, was illegally operating the station. In his new position with KFNS-AM, Slaten is agreeing to stick to sports talk. 
of the conservative Radio Mambí network of Spanish-language news/talk stations from TelevisaUnivision aggravated some conservatives who petitioned the FCC to deny the license transfers. The petition was rejected. The Radio Mambí format goes back to Amancio Víctor Suárez’s launch of programming created by anti-communist Cuban exiles in the mid-1980s. The group of 18 radio stations will gradually be turned over to Latino Media Network throughout this year. Company co-founder Jess Morales Rocketto is quoted saying, “We’re not the first business owners with our own political leanings,” while adding that they are focused on commercial success and not “imposing a political agenda.” 
communication during emergencies.” At this week’s NAB Show in Las Vegas, Catsimatidis met with members of the FCC and FEMA and, at Catsimatidis’ request, former Vice President Mike Pence voiced a “Save AM Radio” spot for 77 WABC. Catsimatidis is offering the PSA to every radio station in America. Catsimatidis says, “The automotive industry is doing a huge disservice to Americans by even considering the removal of AM radio from cars. They are putting the safety of Americans at peril by putting profits before people. Americans deserve better. I am urging all AM and FM radio stations, the NAB, the RAB, and state broadcast associations to band together and bring common sense to Ford and other auto manufacturers.” 
the station’s carriage of the sports talk format branded as “CBS Sports 1360.”According to a 
Jones to pay $965 million in total damages to the families of eight victims of the Sandy Hook school shootings and an FBI agent. Additional damages covering attorneys’ fees will be determined next month. The verdict came after three weeks of testimony in a state court in Waterbury. Not sounding remorseful on yesterday’s radio show (Wednesday, 10/12), Jones railed against the jury’s decision, urging listeners to send money or buy supplements sold on his website. He stated, “They want to scare us away from questioning Uvalde or Parkland [but] we’re not going away, we’re not going to stop.” Jones actually cheered as the judge listed off millions in damages for each count. After one count was read, Jones said, “Get those numbers up.” At times he gave thumbs-up and raised his hand in the air. Jones and Free Speech Systems – parent of his Infowars content company – were held liable for defamation for spreading false stories that the Sandy Hook shootings were a hoax and the victims were actually “crisis actors,” who were following a script written by the government to build support for gun control. Fifteen plaintiffs were awarded damages in the case, one of three suits against Jones from his conspiracy theories about the shooting. The largest single award of $120 million went to Robbie Parker, whose six-year-old daughter, Emilie, was killed in the shooting. Jones spent years mocking Parker as an actor. The plaintiffs also included an FBI agent who responded to the shooting; he was awarded $90 million in damages. An earlier suit in Texas awarded one victim’s parents close to $50 million. Another case is going to the damages phase after Jones lost the suit.
Jim Bohannon is This Week’s Guest on Harrison Podcast. Longtime talk radio superstar Jim Bohannon is this week’s guest on the award-winning PodcastOne series, “The Michael Harrison Interview.” Yesterday (10/10), the radio industry was shocked and deeply saddened at the announcement by Cumulus Media’s Westwood One in TALKERS that one of its longest running, most successful and universally beloved syndicated talk show hosts would be hanging up his headphones on Friday October 14th due to health issues. It was a surprise to many – but industry insiders were already aware that this broadcasting legend was suffering from an advanced case of esophageal cancer… and the prognosis was increasingly grim. His career that spanned more than five decades including the past 30 as host of his solid late-night syndicated show is one of the greatest of all time. His achievements include induction into the NAB Broadcasting Hall of Fame, the Radio Hall of Fame, and the Missouri Broadcasters Association Hall of Fame. He has received the First Amendment Award from the Radio-Television Digital News Association and the Lifetime Achievement Award from TALKERS magazine; along with numerous other awards and honors. Michael Harrison interviewed Jim Bohannon this past Sunday (10/9) afternoon. It is candid, compelling and will no doubt be a historic audio document capturing a dramatic slice of radio history and culture – as well as deep insights into the human condition. After recording the interview and podcast, Michael Harrison stated, “It is with profound sadness and love that I have the honor of presenting this interview to the public.” Not to be missed! To listen to the podcast in its entirety, please click 
have honored individual talent and exemplary programming created by women, for women, and about women in radio, television, and digital media in news and entertainment. AWMF president Becky Brooks comments, “We are more committed than ever to honor the remarkable work by so many in our creative community. As our most important fundraiser of the year, the Gracies enables the Foundation to deliver on its promise to further the connection, education and recognition of women in media.” The 2023 Gracie Awards co-chairs are: The Weiss Agency executive vice president Heather Cohen; McVay Media Consulting president Mike McVay; and Hallmark Media chief communications officer Annie Howell. Emmy winner Vicangelo Bulluck has produced the Gracie Awards since 2016 and will return in that capacity for the 2023 awards. Entry eligibility air dates are January 1, 2022 through December 31, 2022; deadline for all entries is January 12, 2023 at 11:59 pm (ET).
United States, Barack Obama, visits his former aides Jon Favreau, Jon Lovett, Dan Pfeiffer, and Tommy Vietor for an interview that airs tomorrow (Friday, 10/14) at 7:00 pm as an episode of Sirius XM’s “Crooked Radio” (SiriusXM Progress). It will then be issued Saturday as a podcast. The former President’s “Pod Save America” appearance will be replayed tomorrow night (Friday, 10/14) at 9:00 pm and throughout the weekend. It will be his first on the show in exactly two years (10/14/2020). … Following a 24-year tenure at Los Angeles’ KNX “News 97.1 FM,” morning co-anchor/senior political correspondent Dick Helton (pictured at right) will retire tomorrow (Friday, 10/14) from the Audacy facility. Prior to joining KNX, Helton 
spent 29 years anchoring in Chicago at co-owned/similarly-formatted WBBM-AM. … Per a report in The Lincoln Journal-Star, Damon Benning succeeds Matt Davison as analyst on University of Nebraska football radio broadcasts. Formerly a host on NRG Media Omaha sports talk KOZN “1620 The Zone,” Benning played for the Cornhuskers from 1992 – 1996. Davison had been a Nebraska analyst the past 19 years. … As part of an intra-Pennsylvania transaction, 34 full-power stations and 12 translators in five “Keystone State” markets are changing hands. Forever Media is the seller; Kristen Cantrell’s Southern Belle Media Family/Seven Mountains Media Family is the buyer. Among stations being sold include: sports talk WQWK, news/talk WRSC, W279DK, and W227DV (all in the State College market); Altoona market news/talk WFBG; news/talk WNTJ, W230BK, and W283CX, and news/talk WNTI (all in the Johnstown market); news/talk WMGW, W264DK, news-talk WTIV and W287DC, and news/talk WFRA and W251CL (all in the Meadville-Franklin market) news/talk WKST, W250CW, and W248DJ (all in the New Castle market); and Lebanon market news/talk WLBR. The complete transaction is for $17.375 million in assumption of promissory notes to Kerby E. Confer, the Judith M. Confer Irrevocable Trust, and Confermation, LLP. Kerby E. Confer is Kristen Cantrell father.
Workhouse Media; Dat Dude Entertainment; and Jam Street Media, “More To It With Marcellus Wiley” will drop next Tuesday (10/18) on The Dan Patrick Podcast Network. Former co-host of FS1’s “Speak For Yourself” and ESPN’s “SportsNation,” all-pro defensive end Wiley played ten seasons in the NFL for four different teams. Patrick opines, “Marcellus’ frequent appearances on my show always stood out because he never showed up with cliché comments. He’s never been boring and I love that he brings something new to every conversation. I’m looking forward to listening to his new show and thrilled that he’s officially part of our family.” Wiley notes, “I’m honored to work with the legendary trailblazer Dan Patrick, whose path of success perfectly embodies the title of this podcast. I’m so excited to share these amazing journeys of perseverance and success with the world to inspire the inner power we all possess.” Wiley’s podcast will feature conversations with athletes, entertainers, and people with surprising stories that prove there’s more to everyone’s reality than meets the eye. It kicks off with an interview with rapper Lil Wayne. Future scheduled guests include Anthony Anderson, Charles Barkley, Snoop Dogg, Andrew Yang, Deion Sanders and Ben Horowitz.
Andrew Devall, presidents of Texas entities Falls Media and Q-Media Group, respectively, wrote they “were entirely unaware of our participation in this proceeding and did not knowingly consent to having our name included on such filings. We are relatively small radio broadcast operators with enormous demands on our limited time and resources. In general, we do not have the bandwidth to personally monitor activities at the FCC. Given this highly unusual circumstance, [we] respectfully request that the Commission remove the prior filings indicating our support for GBS’s requested rule change from the record.” According to Colorado broadcasters Scott Poese (Ranchland Broadcasting) and Warren Epstein (Pikes Peak College), comments filed under their names “do not accurately reflect our views. Contrary to what the comments indicate, [we] do not support the GeoBroadcast Solutions petition or believe it would benefit our stations or the public.”