Posted by WYTZZ95FM on January 3, 2024, 11:07 am, in reply to "Audacy news"
This was inevitable.
The bankruptcy plan will see the debt holders finance the company through the Chapter 11 proceedings and take ownership of the company afterwards.
There is no good end to this.
"Take ownership of the company afterwards"
Debt holders are not in the business to run companies, grow them into the future. They want to get paid. Audacy will be a much smaller company or non existent after the fire sale.
Drunken sailors will walk away with parachute bonuses and make excuses that Covid and the economy wrecked them. The creditor stockholders and Audacy employees will pay the ultimate tough price on this.
Z
Re: Audacy news
Posted by PhilJSmith on January 4, 2024, 9:19 pm, in reply to "Re: Audacy news"
The debt holders will have Zoom calls where hardly any of the attendees ever listen to terrestrial radio, and they’ll treat Audacy like a buggy-whip maker after automobiles came along, Dump everything and everyone as fast as possible, shrink-wrap whatever you can for the bottom-feeder bidders, job well done, order larger yachts.
Yes, this is bad. We all knew these days would eventually come, but now it’s happening.
on January 3, 2024, 10:54 am