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Soros Fund Management Becomes Primary Shareholder In Audacy
Soros Fund Management acquires a sizeable chunk of Audacy’s debt, roughly $414 million in total.
Six weeks after Audacy filed for bankruptcy, a corporate maneuver that sees Soros Fund Management emerge as the radio company’s primary shareholder. Soros Fund Management takes its seat at the head of the table after acquiring a sizeable chunk of Audacy’s debt, roughly $414 million in total. The Soros investment comes amid a turbulent time for Audacy, which on Jan. 7 said it would file for Chapter 11 bankruptcy protection to reduce debts.
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